Argentina Makes History with First Legally Enforceable Smart Contract on Cardano
Argentina is making strides in embracing Bitcoin (BTC) and cryptocurrency.
Mauro Andreoli, a lawyer with the Buenos Aires Bar Association and a Cardano (ADA) ambassador, announced the signing of the first legally binding agreement on the Cardano network, fully aligned with Argentine laws.
The contract is a loan agreement for 10,000 ADA, carrying a 10% interest rate and a repayment term of four months. Andreoli emphasized that this landmark achievement will serve as a template for future legal smart contracts, enhancing the country’s judicial framework.
“This is a significant milestone for us,” Andreoli stated. He believes this development could accelerate the acceptance of smart contracts in Argentine courts, facilitating smoother commercial transactions.
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The implications extend beyond loans; this agreement can also be adapted for various legal applications, including property rentals and purchase contracts.
Argentina’s commitment to Cardano is further highlighted by President Javier Milei’s upcoming participation in the Cardano Summit on October 19, where he will meet with Cardano founder Charles Hoskinson in Buenos Aires.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
