Tennessee Might Also Recognize Blockchain Data Through Proposed Law
A lawmaker in Tennessee has filed a new bill that recognizes a blockchain signature as a kind of legal electronic record.
A lawmaker in Tennessee has filed a new bill that recognizes blockchain signatures as legal electronic records, marking the latest legislative effort to do so in recent weeks.
The measure states:
Like the other pieces of legislation, the bill clarifies that smart contracts – or self-executing agreements that trigger when certain conditions are met – would also have legal bearing within Tennessee.
"No contract relating to a transaction shall be denied legal effect, validity, or enforceability solely because that contract contains a smart contract term," the text reads.
The move highlights the growing interest among state lawmakers in the concept, with Arizona's government finalizing a similar law last spring. Indeed, it points to a push to harmonize state laws around electronic records with blockchain-based data.
But as with the efforts in Florida and Nebraska, it remains to be seen how other lawmakers will react as the measures move through the debate process.
A draft version of the bill can be found below:
Tennessee 2017 HB1507 Draft by CoinDesk on Scribd
Image Credit: Nagel Photography / Shutterstock.com
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