Washington State: Blockchain Records Are Legal and Valid
The state of Washington in the USA has officially passed a bill which recognizes the legal status of the electronic records, including the blockchain technology. The bill 5638 was signed by Governor Jay Inslee on April 26. The first version of the bill was read by the Washington state legislature on January 25, 2019. And now it passed with 96-1 and will go into effect at the end of July. It is a big step in the adopting of electronic devices and blockchain as a whole in the world. The new law will prevent discrimination against electronic records. The bill says:
“An electronic record may not be denied legal effect, validity, or enforceability solely because it is generated, communicated, received, or stored using distributed ledger technology.”
The bill also defines terms like “blockchain” and “distributed leger”. The same thing was previously done by the Tennessee legislature in March 2018. Governor Bill Haslam signed a bill that "recognizes the legal authority of blockchain technology and smart contracts in conducting electronic transactions.” We remind you that IBM received a patent for the blockchain data sharing system. Read details here: https://thecoinshark.net/ibm-received-a-patent-for-blockchain-data-sharing-system/ Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/