Florida Bill Would Legally Recognize Blockchain Signatures, Smart Contracts

Florida Bill Would Legally Recognize Blockchain Signatures, Smart Contracts

A lawmaker in Florida has introduced a bill that, if passed, would create a legal foundation for blockchain data and smart contracts in the U.S. state. House Bill 1357 introduces multiple stipulations that blockchain ledgers and smart contracts be treated as legally-binding methods of data storage – provided that such measures do not break any pre-existing laws or regulations. Notably, the bill states that a "record or contract that is secured through blockchain technology is in an electronic form and is an electronic record," and confirms that a signature recorded through a blockchain also qualifies as a valid electronic […]