A new ruling by the Chinese People's Supreme Court clarified how blockchain archives relate to court proceedings, establishing that blockchain registries are considered admissible evidence in court.
The new ruling concerning blockchain technology is particularly relevant to Internet-based legal cases that may present difficulties regarding the accuracy of evidence and information presented to the court.
The ruling, which arrived last Friday, is the last government decision that supports what many call "pro-blockchain, anti-crypto" by the Chinese government. The country has invested heavily in blockchain technology, while it continues to block the trade in cryptocurrencies and property, which is prohibited in the country.
Blockchain Records to be used for the "Internet courts" of China
The sentence on the blockchain the evidence comes more than a year after the country has devised a so-called "internet court", which focuses exclusively on the judicial cases related to Internet. As reported by the South China Morning Post, a section of the Supreme People & # 39; s Court explains that all "online tribunals recognize digital data as evidence if they are verified using methods such as digital signatures, timestamps and blockchains".
The first Internet court was established in Hongzhou last August and has since covered more than 10,000 Internet related disputes. The report also notes that the ruling on the use of blockchain evidence took place during a copyright infringement case last June, in which one of the parties attempted to use blockchain data as evidence.
The report discusses the expansion of internet courts, saying:
"China opened its first online court in the center of e-commerce in Hangzhou in August 2017, which has so far managed more of 10,000 Internet-related disputes in all, from lending to defamation to domain names In a premiere of the country, the court ruled in June a copyright infringement case that authenticated blockchain evidence is legally binding. "
Blockchain Ruling Unprecedented, it comes like China crashes on Crypto Usage
China is the first country to request that the blockchain data be marked as admissible evidence, although a similar ruling has been made in the courts State of Vermont in the United States.
Vermont has passed a law that accepts blockchain data as evidence in 2016, although it is limited to state courts, not to national cases. The Chinese ruling will only become more relevant in the coming months as the country moves to expand the number of Internet courts that the country has in the midst of the growing demand for court cases on Internet-based cases.
The positive position on the blockchain by the government comes as they continue their war against cryptocurrency, limiting the access of citizens to offshore trade that operates illegally in the country. The government has hailed their ban as a great success, reducing the global Yuan trading from 90% to less than 1%.
Citizens are using multiple methods, including virtual private networks and peer-to-peer cryptographic transactions, to illegally acquire and sell cryptocurrencies. The government's latest move is to further legitimize blockchain technology, and is consistent with the government's pro-blockchain, anti-cryptocurrency attitude.
Close-up image of Shutterstock.