The bill from electronic records will promote the use of Blockchain in smart contracts in the state. Member of the Assembly Jan Calderon is going to update the current legislation in order to implement Blockchain in smart contracts and electronic signatures.
California is turning into a favorable place for Blockchain, along with other states, including Arizona and Wyoming, but it is California that can make a significant shift in this direction, since it has thirty eight million people, and this is the eighth of the total population of the United States of America. This is not to mention the economy in the amount of two trillion three hundred billion US dollars.
The new bill, which is based on existing legislation, called the Unified Electronic Transactions Act, opens the way for electronic records and signatures provided by Blockchain.
Now in Berkeley, California, is already working with Neighborly to run mini-bonds with Blockchain, currently launched ICO to raise money for housing and other projects.
Arizona does not lag behind its neighbor. Last year, Governor Doug Duce signed a bill on Blockchain, similar to California law, which makes the use of this technology legitimate in signatures and smart contracts. Arizona also supports the idea of allowing taxes to be paid using Bitcoin.
Author: Andrey, analyst Freedman Club Crypto News
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