Connecticut May Legalize Blockchain Smart Contracts

The Lawmakers of US state Connecticut have filed house bill 7310 in Commerce Committee of the Connecticut General Assembly with aim to make blockchain smart contracts should be authorized for commerce in the state. According to the bill: “No contract relating to a transaction shall be denied legal effect, validity or enforceability solely because such contract is executed through a smart contract.”

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Connecticut May Legalize Blockchain Smart Contracts

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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