Cardano Hosts First Legally Enforceable Smart Contract In Argentina As Hoskinson Asserts ADA Isn’t Dying ⋆ ZyCrypto
The post Cardano Hosts First Legally Enforceable Smart Contract In Argentina As Hoskinson Asserts ADA Isn’t Dying ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     The Cardano network has achieved a major feat by hosting its first legally enforceable smart contract signed in Argentina and under the jurisdiction of its courts. Input Output Global chief technology officer Romain Pellerin highlighted this historic feat in a recent post on X, stating: “Cardano paves the way of legally enforceable smart contracts in Argentina.” Cardano Runs First Smart Contract Legally Enforceable In Argentina Cardano ambassador Mauro Andreoli recently announced to the Cardano community the signing of the first legally and judicially enforceable contract on the Cardano network, over which Argentina’s courts have jurisdiction. The contract is a loan agreement between Andreoli and Lucas Macchia for 10,000 Cardano (ADA) tokens — valued at around $3,380 — with four-month repayment at a 10% interest rate. The pair also signed a legal document outlining important details of the smart contract loan, including the blockchain and wallet used and the Transaction ID. Advertisement   Andreoli posited in an Oct. 8 X post that this marks the first time an Argentine court can implement full payment in the ADA cryptocurrency from a Cardano smart contract: “We did it, we have just signed the first legally and judicially enforceable contract on the Cardano network, in full compliance with the laws of the Argentine Republic.” Andreoli further noted that the milestone could encourage Argentine courts to recognize smart contracts more widely as a technology for streamlining commercial transactions. “Legally, this establishes evidence and streamlines procedural steps, marking the initial phase of creating favorable jurisprudence in the country and facilitating commercial transactions.” “Cardano Is Thriving And Growing”: Hoskinson Addresses Critics In Bold Response Cardano creator Charles Hoskinson has reiterated his conviction in the Cardano blockchain amid negative sentiment escalation. “Cardano isn’t dying. It’s thriving and growing. It’s also one of the last cryptocurrencies…
Filed under: News - @ October 11, 2024 12:25 pm