{"data":{"id":"us-ar/ark.-code-ann.-25-32-122","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 25-32-122","heading":"Signatures and records secured through blockchain technology - Definitions","body":"(a) As used in this section: (1) \"Blockchain distributed ledger technology\" means technology that uses a distributed, decentralized, shared, and replicated ledger that is: (A) Either: (i) Public; or (ii) Private; (B) Either: (i) Permissioned; or (ii) Permissionless; and (C) Contains data that is: (i) Securely protected with cryptography; (ii) Immutable; (iii) Auditable; and (iv) Provides an uncensored truth; (2) \"Blockchain technology\" means a shared, immutable ledger that facilitates the process of recording one (1) or more transactions and tracking one (1) or more tangible or intangible assets in a business network; and (3) \"Smart contract\" means: (A) Business logic that runs on a blockchain; or (B) A software program that stores rules on a shared and replicated ledger and uses the stored rules for: (i) Negotiating the terms of a contract; (ii) Automatically verifying the contract; and (iii) Executing the terms of a contract. (b) A signature that is secured through blockchain technology shall be considered to be in electronic form and an electronic signature. (c) A record or contract that is secured through blockchain technology shall be considered to be in electronic form and an electronic record. (d) (1) A smart contract shall be considered a commercial contract. (2) A contract that contains a smart contract term and relates to a transaction shall not be denied legal effect, validity, or enforceability. Added by Act 2019, No. 1061,§ 1, eff. 7/24/2019.\n\n(a) As used in this section: (1) \"Blockchain distributed ledger technology\" means technology that uses a distributed, decentralized, shared, and replicated ledger that is: (A) Either: (i) Public; or (ii) Private; (B) Either: (i) Permissioned; or (ii) Permissionless; and (C) Contains data that is: (i) Securely protected with cryptography; (ii) Immutable; (iii) Auditable; and (iv) Provides an uncensored truth; (2) \"Blockchain technology\" means a shared, immutable ledger that facilitates the process of recording one (1) or more transactions and tracking one (1) or more tangible or intangible assets in a business network; and (3) \"Smart contract\" means: (A) Business logic that runs on a blockchain; or (B) A software program that stores rules on a shared and replicated ledger and uses the stored rules for: (i) Negotiating the terms of a contract; (ii) Automatically verifying the contract; and (iii) Executing the terms of a contract.\n\n(1) \"Blockchain distributed ledger technology\" means technology that uses a distributed, decentralized, shared, and replicated ledger that is: (A) Either: (i) Public; or (ii) Private; (B) Either: (i) Permissioned; or (ii) Permissionless; and (C) Contains data that is: (i) Securely protected with cryptography; (ii) Immutable; (iii) Auditable; and (iv) Provides an uncensored truth;\n\n(A) Either: (i) Public; or (ii) Private;\n\n(i) Public; or\n\n(ii) Private;\n\n(B) Either: (i) Permissioned; or (ii) Permissionless; and\n\n(i) Permissioned; or\n\n(ii) Permissionless; and\n\n(C) Contains data that is: (i) Securely protected with cryptography; (ii) Immutable; (iii) Auditable; and (iv) Provides an uncensored truth;\nraphy; (ii) Immutable; (iii) Auditable; and (iv) Provides an uncensored truth;\n\n(A) Either: (i) Public; or (ii) Private;\n\n(i) Public; or\n\n(ii) Private;\n\n(B) Either: (i) Permissioned; or (ii) Permissionless; and\n\n(i) Permissioned; or\n\n(ii) Permissionless; and\n\n(C) Contains data that is: (i) Securely protected with cryptography; (ii) Immutable; (iii) Auditable; and (iv) Provides an uncensored truth;\n\n(i) Securely protected with cryptography;\n\n(ii) Immutable;\n\n(iii) Auditable; and\n\n(iv) Provides an uncensored truth;\n\n(2) \"Blockchain technology\" means a shared, immutable ledger that facilitates the process of recording one (1) or more transactions and tracking one (1) or more tangible or intangible assets in a business network; and\n\n(3) \"Smart contract\" means: (A) Business logic that runs on a blockchain; or (B) A software program that stores rules on a shared and replicated ledger and uses the stored rules for: (i) Negotiating the terms of a contract; (ii) Automatically verifying the contract; and (iii) Executing the terms of a contract.\n\n(A) Business logic that runs on a blockchain; or\n\n(B) A software program that stores rules on a shared and replicated ledger and uses the stored rules for: (i) Negotiating the terms of a contract; (ii) Automatically verifying the contract; and (iii) Executing the terms of a contract.\n\n(i) Negotiating the terms of a contract;\n\n(ii) Automatically verifying the contract; and\n\n(iii) Executing the terms of a contract.\n\n(b) A signature that is secured through blockchain technology shall be considered to be in electronic form and an electronic signature.\n\n(c) A record or contract that is secured through blockchain technology shall be considered to be in electronic form and an electronic record.\n\n(d) (1) A smart contract shall be considered a commercial contract. (2) A contract that contains a smart contract term and relates to a transaction shall not be denied legal effect, validity, or enforceability.\n\n(1) A smart contract shall be considered a commercial contract.\n\n(2) A contract that contains a smart contract term and relates to a transaction shall not be denied legal effect, validity, or enforceability.","path":["AR Code","Title 25","Chapter 32"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"e7fc7af18331b3b39e92242f3db8dc113f2176dd30b5119f807dca260cf5c852","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-25-32-120","next":"us-ar/ark.-code-ann.-25-33-101"},"notice":"GroundRules: Original legal text. Not legal advice."}