AR HB1944

Adds new section 25-32-122 to Arkansas Code Title 25, Chapter 32 defining blockchain technology, blockchain distributed ledger technology, and smart contracts.

Establishes that signatures secured through blockchain technology are considered electronic signatures and records secured through blockchain are considered electronic records.

Declares smart contracts to be commercial contracts and prohibits denial of legal effect, validity, or enforceability to contracts containing smart contract terms related to transactions.

Defines blockchain distributed ledger technology as a distributed, decentralized ledger that is either public or private, permissioned or permissionless, with data that is cryptographically protected, immutable, auditable, and provides uncensored truth.

Bill was approved on April 16, 2019.