Ohio Passes Blockchain Legislation

August 08

Last Friday, August 3, Ohio became the latest U.S. state to formally recognize blockchain technology.  Ohio’s Uniform Electronic Transactions Act states that “a record or contract that is secured through blockchain technology is considered to be in an electronic form and to be an electronic record.”  It also provides that, “[a] signature that is secured through blockchain technology is considered to be in an electronic form and to be an electronic signature.”  While these two provisions became law, it was a pared version of the originally proposed statute, which included (i) a definition “blockchain technology”, (ii) a definition of “smart contracts.”, and (iii) a statement that a person who places information they own on the blockchain maintains the same ownership rights as they had before doing so.

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David Zaslowsky has a degree in computer science and, before going to Yale Law School, was a computer programmer. He is currently the Chairman of the Litigation Department of the firm’s New York office. His practice focuses on international litigation and arbitration. He has been involved in cases in trial and appellate courts across the United States and before arbitral institutions around the world. Many of David’s cases, including some patent cases, have related to technology. Since 2008, David has been included in Chambers for his expertise in international arbitration.

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