CandleFocus Argentina Approves First Legally Binding Cardano Smart Contract
2024-10-15
Author: Content Editor
Argentina has embraced smart contracts in response to hyperinflation and currency devaluation. The country has declared the first Cardano-based smart contract legally binding, a significant milestone for digital assets. The contract involves a 10,000 ADA loan to be repaid with 10% interest and can be enforced in court if breached. The next step is to educate judges about the legal enforceability of smart contracts, which could be applied to various legal agreements. Argentina is also studying El Salvador's Bitcoin adoption and legal framework.
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