China’s Supreme Court Recognizes Legitimacy Of Data Stored On Blockchain
The Supreme People's Court of China authorized the Internet courts to use the data on blockchain in rendering of verdicts, CoinDesk reports referring to the decision of the legal body.
The regulatory act indicates that regional Internet courts can consider blockchain a lawful data storage. All such information can be accepted by the courts as evidence, as long as the parties to proceedings can prove the legitimacy of the technology used. The decision was adopted by the juridical commission of the Chinese Supreme Court.
Parties involved in a trial can provide judges with information on the distributed ledger with digital signatures, accurate time stamps, hashing, on condition that the authenticity of blockchain is proven, according to the decision of the highest court of the country.
Last year in Hangzhou the authorities opened the first Internet court in China, designed to render verdicts on cases related to various aspects of online activities — digital information, copyright, etc. The Hangzhou court had already dealt with blockchain in June when considering one of the cases, so the decision of the Supreme Court of China was taken duly. Moreover, similar Internet courts are to be opened in the near future in two other large cities of the country.
State organizations of the People's Republic of China are increasingly paying attention to blockchain. As previously reported, the Central Bank of China launched its own blockchain platform for financial procedures in a test mode. The People's Insurance Company of China also announced the introduction of distributed ledger technology into its work.