According to an official document presented on March 7, a committee of Connecticut State legislature has proposed to authorize the use of smart contracts in the state.
The Consortium Committee of the Connecticut General Assembly (CGA) has introduced House Bill 7310, which suggests that blockchain-operated smart contracts can be used in commerce organized or started in the United States of Connecticut state.
The Committee elaborately said that any cryptographic signature or record secured through distributed cryptographic technology (DLT) should be considered in electronic form and electronic records.
The CGA Commerce Committee emphasized that any smart contract related to the transaction should not be denied solely by legal effect or legality because it processed through a smart contract rather than a conventional method to secure transaction data. is done.
A smart contract is a protocol designed to contribute, verify, or implement a contract or display of a contract. Block-powered smart contracts allow parties to make reliable transactions directly without third parties. Smart contract transactions are traceable and irreversible, while incorporating all the data about the terms of the contract.
On March 6, the General Assembly of the U.S. State Colorado introduced a bill to investigate the possibility of implementing blockchain technology in water rights management.
Earlier in February, said that the two blockchain-related bills were passed in the US state of Wyoming. Both the bills, the token house house 185 and the bill related to blockchain compliance, House Bill 74, were introduced in January this year and are ready to be implemented later in 2019.