,i  #aaeth ,,congress  #b;d ,session    
,h4 ,r4 #gjjb  ,,in ,,the ,,house ,,of  
,,representatives  ,september #bh1      
#bjah,mr4 ,schweikert introduced the    
following bill2 which was referred to   
the ,committee on ,energy and ,commerce 
,a ,,bill  ,to amend the ,electronic    
,signatures in ,global and ,national    
,commerce ,act to clarify the           
applicability of such ,act to electronic
 records1 electronic signatures1 and    
smart contracts created1 stored1 or     
secured on or through a blockchain1 to  
provide uniform national standards      
regarding the legal effect1 validity1   
and enforceability of such records1     
signatures1 and contracts1 and for other
 purposes4  #a4 ,short title ,this ,act 
may be cited as the ,blockchain ,records
 and ,transactions ,act of #bjah4  #b4  
,amendments to ,electronic ,signatures  
in ,global and ,national ,commerce ,act 
7a7 ,exception to exemption from        
preemption for blockchain recognition   
,section #ajb of the ,electronic        

,signatures in ,global and ,national    
,commerce ,act 7#ae ,u4,s4,c4 #gjjb7 is 
amended--  7#a7 by redesignating        
subsections 7b7 and 7c7 as subsections  
7c7 and 7d71 respectively2 and  7#b7 by 
inserting after subsection 7a7 the      
following3  7b7 ,exception for          
blockchain recognition ,subsection 7a7  
shall not apply to a ,state statute1    
regulation1 or other rule of law that   
modifies1 limits1 or supersedes the     
provisions of section #aja1 unless such 
statute1 regulation1 or rule of law     
gives electronic records1 electronic    
signatures1 and smart contracts created1
 stored1 or secured on or through a     
blockchain legal effect1 validity1 and  
enforceability1 whether express or      
implied1 that is equivalent to the legal
 effect1 validity1 and enforceability   
granted by this title and title ,,ii4  4
  7b7 ,definitions  7#a7 ,electronic    
,paragraph 7#b7 of section #ajf of the  
,electronic ,signatures in ,global and  
,national ,commerce ,act 7#ae ,u4,s4,c4 

#gjjf7 is amended by inserting 1        
including a blockchain before the period
 at the end4  7#b7 ,electronic agent    
,paragraph 7#c7 of such section is      
amended by adding at the end the        
following3 ,such term includes a smart  
contract44  7#c7 ,electronic record     
,paragraph 7#d7 of such section is      
amended by adding at the end the        
following3 ,such term includes a        
blockchain and a smart contract or other
 record created1 stored1 or secured on  
or through a blockchain44  7#d7         
,electronic signature ,paragraph 7#e7 of
 such section is amended by adding at   
the end the following3 ,such term       
includes a signature created1 stored1 or
 secured on or through a blockchain44   
7#e7 ,blockchain2 smart contract ,such  
section is further amended--  7,a7 by   
redesignating paragraphs 7#ab7 and 7#ac7
 as paragraphs 7#ad7 and 7#ae71         
respectively2  7,b7 by redesignating    
paragraphs 7#a7 through 7#aa7 as        
paragraphs 7#b7 through 7#ab71          

respectively2  7,c7 by inserting before 
paragraph 7#b7 7as so redesignated7 the 
following3  7#a7 ,blockchain ,the term  
blockchain means software that uses a   
distributed digital ledger of           
cryptographically signed transactions   
that are grouped into blocks1 each of   
which--  7,a7 is cryptographically      
linked to the previous block after      
validation and undergoing a consensus   
decision2 and  7,b7 when added as a new 
block1 makes any older blocks more      
difficult to modify and is replicated   
across all copies of the ledger within  
the relevant network1 with any conflicts
 in such blocks resolved automatically  
using established rules4  2 and  7,d7 by
 inserting after paragraph 7#ab7 7as so 
redesignated7 the following3  7#ac7     
,smart contract ,the term smart contract
 means a computer program that reflects 
an agreement1 in whole or in part1      
between two or more parties to execute  
transactions automatically based on the 
occurrence of agreed-upon events4  4