A bill to recognize blockchain signatures as legal electronics records could move swiftly through Tennessee’s legislature, lawmakers suggested during a hearing on Wednesday.
According to the Nashville Post, local stakeholders met with members of the Tennessee General Assembly to discuss the measure, which was submitted earlier this month state lawmaker Jason Powell, as previously reported by CoinDesk.
The bill stipulates that “a signature that is secured through blockchain technology is considered to be in an electronic form and to be an electronic signature,” and also contains language on the use of smart contracts as well. The proposed law is in the vein of other pieces of legislation filed in Florida and Nebraska in recent days.
As quoted by the post, lawmakers in the General Assembly have struck a positive tone about the bill and its prospects for passage.
“Tennessee is ready for blockchain,” said Rep. Pat Marsh, who added that he expected it to move through the legislature. “We are open for business.”
Among the startups to attend the hearing was Change Healthcare, represented by Emily Vaughn, the firm’s product development director. She argued that the state could benefit from enshrining the tech’s characteristics into state law.
“When you guys are considering ways in which Tennessee could benefit from this technology, there are opportunities to bring new businesses here and opportunities to grow our existing businesses,” she argued.
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