Smart Contracts Now Recognized Under Tennessee Law

The governor of Tennessee has signed a bill that legally recognizes blockchain data and smart contracts under state law.

Governor Bill Haslam signed the measure on Thursday, public records show, capping a months-long process that saw Tennessee become the latest U.S. state to pursue such legislation. According to data from LegiScan, the bill had sailed through the legislature since its introduction in January, passing both chambers unanimously.

As the text of the bill explains:

“As introduced, recognizes the legal authority to use blockchain technology and smart contracts in conducting electronic transactions; protects ownership rights of certain information secured by blockchain technology.”

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