Use of Blockchain for Evidence Deemed Legally Binded by China’s Supreme Court
China’s Supreme Court Defines Blockchain Evidence As Legally Binding
An interesting development for the blockchain technology has recently happened in China. According to local news sources, the Supreme People’s Court, which is the highest law court in the country, has recently defined evidenced stored on the blockchain as legally binding in any courts in China.
This new ruling will have immediate effect and can help the Chinese government to clarify many issues and legal disputes. This is part of a new regulation that internet courts in the country have to accept blockchain evidence as legal when used as a method for storage of authentication of digital evidence.
According to the official announcement of the Supreme Court, if the relevant parties were able to collect and store data via the blockchain technology and they have digital signatures and reliable timestamps as well as hash verification to prove that the information is true, it should be accepted.
Definition Comes As A Response For Requests
This ruling is, in part, a response to many questions that have appeared since a high profile case in Hangzhou last year. This was one of the first internet courts of the country and it handled issues involving digital data. Blockchain evidence was legally accepted on this trial, so a question remained whether it would be accepted in other cases as well.
According to the Supreme Court, the regulation was passed with consensus, as most of the judges understood that the technology could, in fact, be used for this. It is important to understand that this represents clarification for courts all over the country.
The institution believes that this will especially help in online “netcourts” which will judge everything on the internet. This new type of court is being used in China this year and it is said to be the first of its kind in the world.
Blockchain Disrupting The World
It is possible to clearly see how the blockchain technology is slowly shaping the world. Not only this type of technology is starting to be more widely accepted, it is also changing how common things work.
This is another point in favor of the blockchain technology as a force that will change the frameworks of the world and to help in many areas like law, logistics, administration, finances and others.