California State lawmakers have introduced a new bill to legalize blockchain contracts, signatures, and transactions. An American lawmaker serving in the California State Assembly, Ian Calderon wants blockchain contracts and transactions to be included in the California law. He says that these contracts cannot be denied as they are in digital form.
The bill states people who carry out interstate and foreign commerce with blockchain technology i.e, through Bitcoin, Litecoin, Ethereum, Ripple and other cryptocurrencies, should have the right to secure their own personal data on the blockchain.
Allan Hikens, a lawyer at a well-recognized firm in NYU says:
“It’s a good thing that the states in America are accepting the change in a positive way and are laying out the proper rules and regulation for Bitcoin and Blockchain Technology instead of showing cowardice like others.”
Write: Sara Bauer