,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #hebd  ,,in ,,the ,,house ,,of  
,,representatives  ,october #b1         
#bjbj,mr4 ,schweikert 7for himself and  
,mr4 ,soto7 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 #bjbj4  #b4  
,amendments to ,electronic ,signatures  
in ,global and ,national ,commerce ,act 
7a7 ,validity of electronic records1    
electronic signatures1 and smart        

contracts using blockchain ,section     
#aja7;a7 of the ,electronic ,signatures 
in ,global and ,national ,commerce ,act 
7#ae ,u4,s4,c4 #gjja7;a77 is amended--  
7#a7 in paragraph 7#a71 by striking 2   
and and inserting a semicolon2  7#b7 in 
paragraph 7#b71 by striking the period  
at the end and inserting 2 and2 and     
7#c7 by adding at the end the following3
  7#c7 an electronic record1 electronic 
signature1 or smart contract may not be 
denied legal effect1 validity1 or       
enforceability solely because it is     
created1 stored1 or secured on or       
through a blockchain4  4  7b7 ,exemption
 to preemption ,section #ajb of the     
,electronic ,signatures in ,global and  
,national ,commerce ,act 7#ae ,u4,s4,c4 
#gjjb7 is amended-- 7#a7 in subsection  
7a7-- 7,a7 in the heading1 by striking  
,in general and inserting ,electronic   
records and electronic signatures       
generally2 and  7,b7 in the matter      
preceding paragraph 7#a71 by inserting 1
 except for paragraph 7#c7 of section   

#aja7;a71 after the provisions of       
section #aja2  7#b7 by redesignating    
subsections 7b7 and 7c7 as subsections  
7c7 and 7d71 respectively2 and  7#c7 by 
inserting after subsection 7a7 the      
following3  7b7 ,electronic records1    
electronic signatures1 and smart        
contracts using blockchain ,a ,state    
statute1 regulation1 or other rule of   
law may modify1 limit1 or supersede     
paragraph 7#c7 of section #aja7;a7 with 
respect to ,state law only if such      
statute1 regulation1 or rule of law is  
substantially similar to such paragraph4
  4  7c7 ,definitions ,section #ajf of  
the ,electronic ,signatures in ,global  
and ,national ,commerce ,act 7#ae       
,u4,s4,c4 #gjjf7 is 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