Arizona’s Corporations & Blockchain Technology Law, One Year On…

Arizona’s Corporations & Blockchain Technology Law, One Year On…

Bitcoin, Blockchain, Corporations, FinTech, Uncategorized
UPDATE: The Arizona Corporation Commission has informed us that, as of May 21, 2018, the new upgraded E-filing Database System (which will hopefully resolve some of the issues mentioned in this post) will be going live. A year ago, Arizona Governor Doug Ducey signed HB 2417 into law. The law was intended to clean up confusion over the enforceability of transactions utilizing blockchain technology and smart contracts under Arizona law.  Specifically, the law aimed at transactions involving the sale of goods, leases, and documents of title governed respectively under Uniform Commercial Code (UCC) Articles 2, 2A and 7. In doing so, Arizona took a major step forward relative to its sister states in supporting blockchain technology, including moving closer to allowing corporations to submit data through the decentralized, distributed ledger…
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