Iowa House Says Yes to Blockchain and Smart Contracts
by Dalmas Ngetich, BTCManager
March 31, 2021
The State of Iowa House has unanimously passed a bill, Senate File (SF) 541, that facilitates electronic transactions. According to the Gazette, the bill formally recognizes smart contracts. It also confirms the blockchain as a secure and reliable ledger for storing information.
Smart Contracts and Blockchain Formally Recognized in Iowa
As per the update on Mar 29, the bill gained Senate approval earlier this month. With the bill’s express passing, the use of smart contracts—which is central to innovations like DeFi and the wildly popular NFTs, could open up more opportunities.
Precisely, the use of smart contracts in binding business terms and other negotiations would likely explode in popularity due to the accompanying clarity.
Besides, it is a step in the right direction, especially when crypto continues to find widespread adoption but with active obstacles slowing down progress due to the absence of fitting regulations.
SF541 Details ...
Grounds for Cryptocurrency Regulations ...
more, including links