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The Commerce Committee of the Connecticut General Assembly (CGA) proposes a bill that will authorize the use of smart contracts in commerce in the state, as per the official document released on March 7.
The CGA Commerce Committee’s House Bill 7310, suggests that blockchain-powered smart contracts could be used in commerce conducted or initiated in the United States state of Connecticut. The committee elaborated in the document introduced that the cryptographic signature or a record secured through distributed ledger technology (DLT) should be considered to be in an electronic form and an electronic record.
It was further emphasized that smart contracts relating to a transaction would not be denied a legal effect or validity only because it is processed through a smart contract instead of a tradition...
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