The jurisdiction in Argentina has recognized the enforceability of smart contracts, marking a significant milestone for the use of blockchain technology in the country. The first Cardano-based smart contract has been approved as legally binding, allowing it to be used for executing rental agreements, purchase payments, and other legal contracts. The contract, which involved a four-month loan repaid with a 10% interest, was issued for 10,000 ADA. While a complementary legal document was required due to the digital nature of smart contracts, this event sets a precedent for the use of smart contracts in Argentina. The crypto community aims to educate national judges and create favorable jurisprudence to facilitate commercial transactions using smart contracts.



Other News from Today