The United States is gradually softening its hardline rules against the recognition of blockchain technology. This is as the state of Ohio recently passed a law recognizing the validity of data stored on the blockchain.
Amidst the growing rate of companies in the United States, who have been using blockchain for different aspects of their businesses, it was only natural for the government to toll the same line. While there are degrees of information relating that some states in the US have recognized the technology.
Information filtered in that the lawmakers, at the state of Ohio, in May initiated a bill that will recognize all data stored on the blockchain, and recognizing them as valid electronic records.
The bill, though initiated in May was passed into Law sometime in June, and the executive assent was inked recently to become a full-fledged law in the state of Ohio.
The new law in a way or two is an amended version of a previous rule that states that, “a record or contract, that is secured through blockchain technology is considered are to be in an electronic form and to be an electronic record.”
Though the use of electronic signatures is not new in the country, the new law now recognizes any form of electronic signatures that was signed on the blockchain platform. Henceforth, it will be regarded as a tangible means just like other signatures recognized by law.
The blockchain crusade has also spread to other states in America. With the state of Arizona legalizing all data stored on the blockchain. Sources have also revealed that lawmakers in California are having a roundtable discussion on the topic and soon, most states will join the queue.
Blockchain technology has proliferated in the United States. The worlds largest social media platform, Facebook, who recently lifted its embargo on crypto adverts with sources revealing that the company will toll the blockchain line soon.
Amazon, the biggest retail outlet in the world recently adopted blockchain oriented services on its Amazon Web Service (AWS). Also, IBM, Microsoft, Nestle, and other bigwigs have also benefitted from the blockchain in simplifying some processes.
Blockchain has been described as the next best thing after the internet and electricity, and its only normal for the most powerful country in the world to embrace the emerging technology.