The bill was signed on Thursday, as shown on the public records. Even if the process took months to complete, it was accepted unanimously by both chambers.
This is not a first, as Florida and Nebraska are also considering to implement laws to store legislative data on a blockchain. The voting process has not started for any of these states.
“As introduced, recognizes the legal authority to use blockchain technology and smart contracts in conducting electronic transactions; protects ownership rights of certain information secured by blockchain technology,” the bill reads.
The bill considers smart contracts to have a legal power,
“No contract relating to a transaction shall be denied legal effect, validity, or enforceability solely because that contract contains a smart contract term.”
Arizona governor also signed a bill allowing residents of Arizona to pay their state taxes with cryptocurrency.