Jason Powell, a real estate broker and Democrat who has served in the Tennessee State Legislature for six years, became interested in cryptocurrencies in 2017 as the price of Bitcoin was spiking. Around the same time, he was hearing that an exciting new innovation called blockchain, the data structure for shared recordkeeping that underpins Bitcoin, was poised to create “incredible opportunities” in the real estate industry. In January, he introduced a bill to help bring the burgeoning blockchain industry to Tennessee.
The bill, which was signed by the governor on March 22nd, declares that records on a blockchain are considered electronic records, signatures using a blockchain are considered electronic signatures, and a contract will not...
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