Cardano Hosts First Legally Enforceable Smart Contract in Argentina As Hoskinson Says ADA Isn't Dying
Cardano hosted its first legally binding smart contract signed in Argentina and under its courts.
InputOutput Global chief technology officer Romain Pellerin said on X that âCardano paves the way of legally enforceable smart contracts in Argentina.â
First enforceable smart contract from Cardano In Argentina
Mauro Andreoli, Cardano ambassador, recently announced the signature of the first legally binding contract on the network, over which Argentina's courts have authority.
Andreoli and Lucas Macchia loaned 10,000 Cardano (ADA) tokens, worth $3,380, for four months at 10% interest.
The two also signed a legal document detailing the smart contract loan's blockchain, wallet, and Transaction ID.
In an Oct. 8 X post, Andreoli said this is the first time an Argentine court can execute complete ADA coin payment via a Cardano smart contract:
We executed the first legally and judicially binding Cardano contract in complete line with Argentine law.
The milestone may persuade Argentine courts to acknowledge smart contracts as a tool to streamline business transactions, Andreoli said.
Legally, this provides evidence and reduces procedural stages, starting the process of improving national law and enabling business.
âCardano Is Thriving And Growingâ: Hoskinson Boldly Addresses Critics
Cardano developer Charles Hoskinson defended the blockchain despite growing criticism.
âCardano lives. Growing and flourishing. One of the final cryptocurrencies that aspires to be a true coin rather than a Blackrock and Wall Street sponsor for number go ups, Hoskinson stated.
Hoskinson said on X that Cardano's current decline is ârather the desired result of Voltaireâ rather than âsomehow failing.â Cardano entered the Age of Voltaire on Sept. 1.
