Raising Arizona: Should New Zealand recognise blockchain signatures and smart contracts in our Electronic Transactions Act? (27 April 2017) (New Zealand)

Bell Gully

The State of Arizona has passed a ground-breaking law confirming that smart contracts and blockchain-based signatures have the protection of its Electronic Transactions Act.

The Arizona Electronic Transactions Act (the Arizona ETA) provides that records or signatures in “electronic form” cannot be denied legal effect and enforceability based on the fact they are in electronic form. The legislation was originally enacted in 2000 to confirm that electronic records and signatures can be as valid as conventional ‘hard copy’ manuscript records and signatures.

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