As used in this Act: "Blockchain" means an electronic record created by the use of a decentralized method by multiple parties to verify and store a digital record of transactions which is secured by the use of a cryptographic hash of previous transaction information. "Blockchain technology" means computer software or hardware or collections of computer software or hardware, or both, that utilize or enable a blockchain.
205 ILCS 725/5
Definitions
Known as the Blockchain Business Development Act
The act spans §§ 205-725-1 to 205-725-5 (4 sections).
P.A. 101-259, eff. 6-1-20.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.