Arizona's Governor Signs Latest Blockchain Bill Into Law

NEWS
Nikhilesh De
Apr 5, 2018 at 08:00 UTC

Arizona corporations can now hold and share data on a blockchain following the signing of new legislation into law by the U.S. state's governor.

The bill, first introduced by Representative Jeff Weninger, amends the Arizona Revised Statutes to recognize data written and stored on systems using the technology, as previously reported. Governor Doug Ducey signed the measure on April 3.

The Arizona House passed the bill within eight days of its introduction, records show, and the senate followed suit roughly a month later. While the senate unanimously voted to pass the bill, four House Representatives voted against or abstained.

The amendments come a year after Arizona began recognizing signatures recorded on a blockchain and smart contracts as legal documentation. Also signed by Ducey, that law allows these signatures to qualify as legal electronic signatures, meaning individuals can sign records or contracts on a blockchain.

The new legislation comes amid increased interest in blockchain applications across U.S. state governments.

Lawmakers in Delaware advanced and passed similar measures in 2017, becoming the first U.S. state to provide a legal basis for trading stocks on a blockchain.

Also last year, a lawmaker in New York introduced four bills aimed at evaluating blockchain applications for data storage purposes, as previously reported by CoinDesk.

Similarly, a bill introduced to the Nebraska legislature earlier in 2018 would, if passed, also allow the state to recognize smart contracts and documents stored on a blockchain. The bill would also "authorize and define smart contracts," as well as allow the government itself to adopt distributed ledger technology.

Flags image via Shutterstock

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Smart ContractsArizonaUSLegislationBlockchain Data