The Supreme Court of China issues a ruling acknowledging blockchain records

[scrivenorr]

From now on, Chinese internet courts will treat blockchain-authenticated evidence as legally binding.

Such news arrived with the Supreme People’s Court of China ruling, wherein new policies were published, according to which the evidence authorized with use of blockchain innovations is eligible for admission in court. The local media reports that the internet courts that were established with aim of managing web-related disputes, from now on, will be able to engage in data recognition for the purposes of evidence using blockchain records for verification, as well as virtual signatures and time stamps.

https://base.info/news/the-supreme-court-of-china-issues-a-ruling-acknowledging-blockchain-records

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[BTalarmus]

This is good news, more and more getting closer beginning of everyday use of cryptocurrency. China is a big and influential country and if there is a strong development of blockchain, it will affect the whole world.

[Owee1989]

In china the government make a stable policy because they want the regular currency and the crypto flow same way. The court will publish a law that why both currency can work properly.

[Owee1989]

All in all this should be a good thing because this might reduce the level of scams and the attempts of hacking in the market too.

[peter0425]

This is good news, more and more getting closer beginning of everyday use of cryptocurrency. China is a big and influential country and if there is a strong development of blockchain, it will affect the whole world.

What has cryptocurrency something to do with China? We don't care how big or influential they are, Blockchain technology is already global we don't need countries to accelerate its growth. Did you really read the articles? It says China is acknowledging Blockchain Technology. Which should be a no brainer for everyone because they really love this technology but not bitcoin. Could be the first on its kind though, but I'm sure that the many applications of Blockchain will be 'exploited' by a lot of countries and companies globally.

[Barrycuda007]

The court of china and the administration make a steady arrangement since they need the customary money and the crypto stream same way. The court will distribute a law that why both cash can work appropriately.

[blackandwhite89]

This could bring a positive impact on blockchain technology of China that Supreme People’s Court of China ruling, wherein new policies were published, according to which the evidence authorized with use of blockchain innovations is eligible for admission in court.

[VK.point]

I think this is a bit of good news that we should give a standing ovation. China is one of the big countries in the world. And I just heard this time an internet court. Most of this will have a positive impact on the development of blockchain, which is becoming increasingly global and popular. Thank you for the news you shared. Very helpful.

[jpnl0008]

they have tested the power and the potential of the blockchain technology and they have seen beyond doubt that it is not just anything but a technology to be reckoned with. china will be among those pushing for the global mass adoption of the blockchain technology.

[billygarrison]

Good news, China is a developed country with a good economy, I also see many Cytptocurrency projects from China, an example of a successful project from China is NEO san GAS,

[jseverson]

That's pretty cool. How significant is this development for the current landscape though? I know that China in general has been very bullish on the development of blockchain applications, but as far as I know, the only application that currently works (which is cryptocurrencies) is essentially banned there. Doesn't that kind of make it useless at the moment?

Is this to prepare for the future, or are they going to use this as a weapon to prosecute certain individuals that are affiliated with cryptocurrencies? Genuinely asking, for those who are more knowledgeable about the situation.

[SwampRose]

The established Internet Court of China aimed to manage web-related debates will now be able to add blockchain records, as well as virtual signatures and data access to data recognition for verification. But we should always be concious about authentication.

[PoliteHyena]

Clearly, we can see that many economic nations accepting cryptocurrency and blockchain technology. Moreover, Asian countries adopting cryptocurrency. No wander why they are always step ahead in economic sector. Specially china has attention worldwide and other Asian countries as well.

[Cybora9]

we are able see that numerous financial countries tolerating crypto money and block-chain innovation. Additionally, Asian nations embracing crypto cash. No meander why they are continuously step ahead in financial segment. Uncommonly china has consideration around the world and other Asian nations as well. They are growing fast.

[RudeSlider]

As, we are ready see that various budgetary nations enduring crypto cash and block-chain development. Moreover, Asian countries grasping crypto cash. No wander why they are ceaselessly step ahead in money related section. Remarkably china has thought around the world and other Asian countries as well. They are developing quick.

[dothebeats]

With the increasing number of people engaging in cryptocurrencies in China, it is no doubt that they will produce such form of ruling concerning it, and one fine thing they did is acknowledging blockchain records since it cannot be forged easily and cannot be tampered in any way. Fraud and money laundering is still an issue in today's crypto world even though formal regulations have been set into place to address the issue. If you can't mitigate or lessen the number of frauds made concerning crypto, then find a way to use blockchain records to apprehend fraudsters and violators. A great move from China, and other countries should review this ruling since it will be a really good thing in apprehending those violators that think crypto is a safe haven from money launderers and fraud.

[avikz]

From now on, Chinese internet courts will treat blockchain-authenticated evidence as legally binding.

Such news arrived with the Supreme People’s Court of China ruling, wherein new policies were published, according to which the evidence authorized with use of blockchain innovations is eligible for admission in court. The local media reports that the internet courts that were established with aim of managing web-related disputes, from now on, will be able to engage in data recognition for the purposes of evidence using blockchain records for verification, as well as virtual signatures and time stamps.

https://base.info/news/the-supreme-court-of-china-issues-a-ruling-acknowledging-blockchain-records

Thank God that at least china has started the tradition by court rulling. Eventually every country will have to declare the same! Because the kind of transparency blockchain can provide, there is no other technology parallel to this!

Even Indian information Technology ministry has ordered the energy and power sector to explore the use of blockchain for the betterment of service. Moreover, this news was confirmed by Indian Prime Minister's Office.

So there's no doubt that blockchain is going to rule next few decades to bring transparency on the table.

[Brutea]

this is a great news for the investors.this would be better for the investor.in this wat transaction will more secure and also ligal for those people who involve in this market

[Patriode]

Blockchain is the most popular technology now a days and many country willing to use it's for their many persspective and recently count the blockchain technology as a legal one.

[pixie85]

It doesn't change anything. China is obviously still against cryptocurrencies. They are against exchanges and miners and all big companies had to move out and go to hong kong or other countries. I know that it's a step in the right direction but let's not get too excited.