A California legislator recently introduced a bill that, if passed, would update the electronic records law to include blockchain signatures and smart contracts.
House Bill 2658, introduced by Assemblyman Jan Calderon, expands the definitions of electronic records and signatures. In particular, the document stipulates: “An electronic record is a record protected by blockchain technology.” Essentially, a blockchain signature will be legal if the bill is signed into law by California Governor Jerry Brown.
The bill also states: “a signature secured by blockchain technology is an electronic signature.” The term "contract" now includes smart contracts and pieces of code that are triggered under certain conditions." The document also addresses the storage of information on the blockchain. It is assumed that persons who use the blockchain to store personal information may not share this information when conducting international or foreign trade.
Calderon's bill is not the only one of its kind at the moment. Florida introduced a similar document, and the state of Arizona in the past passed a law that included information on the blockchain and smart contracts However, given that California's economy is the largest in the United States, this bill is particularly noteworthy. California's GDP is approximately equal to that of France.
According to https://www.coindesk.com
You May Also Like
The Chinese branch of Amazon announced its cooperation with the Qtum blockchain.
According to a press release issued by the Qtum team, AWS users will now be able to “quickly, efficiently and cheaply” develop and run their own smart contracts using Amazon Machine Image (AMI).
Blockchain was declared unsuitable for holding elections
Researchers from the Initiative for CryptoCurrencies and Contracts, who study traditional and blockchain voting, do not share the enthusiasm of many and believe that blockchain will not only not help improve the voting process, but will also significantly worsen the situation.
