Latest Blockchain Bill Signed into Law in Arizona
Governor Doug Ducey signed the Blockchain Bill, first introduced by Representative Jeff Weninger, on April 3rd that amends the Arizona Revised Statutes to recognize data written and stored on systems using the technology.
As a result, Arizona corporations can now hold and share data on a Blockchain.
The Arizona House passed the bill within eight days of its introduction as shown in the records, and the senate followed suit roughly a month later. The senate unanimously voted to pass the bill, four House Representatives voted against or abstained.
The amendments come a year after Arizona began recognizing signatures recorded on a blockchain and smart contracts as legal documentation. The law allows these signatures to qualify as legal electronic signatures, meaning individuals can sign records or contracts on a blockchain.