China’s Supreme Court Rules Blockchain Evidence Is Legally Binding
China’s Supreme Court has ruled evidence authenticated and presented using blockchain technology is binding in legal disputes.
This information was contained in an announcement made on Friday, September7. The decision by the court has been effected immediately and it clarified various issues relating to how internet courts in the country should review legal disputes.
DLT evidence now admissible in court
According to the announcement, internet courts in the country were ordered to recognize digital data that are submitted as evidence if relevant parties collected and stored these data via blockchain.
The collected data should have digital signatures, reliable timestamps and hash value verification or they can also be collected via a digital deposition platform.
This latest development means that data stored or collected using blockchain technology are now admissible in Court.
This ruling came as a response to questions that have sprung up since the first internet court in the country was established in Hangzhou last year.
The internet court was created with the aim of handling disputes around internet-based issues, generally involving digital data.
Back in July, the Hangzhou internet court ruled, in a copyright infringement case, that blockchain-based evidence was legally acceptable.
Hangzhou internet court a few days ago confirmed that the regulation was passed with consensus from the organization’s judiciary committee.
The announcement made by the Supreme Court has now clarified that China’s Internet courts conduct cases online, with litigation acceptance, delivery, mediation, evidence exchange, pre-trial preparation, court trial, and sentencing all settled on the web.
China is looking to forward to opening two more internet courts, in the country’s capital, Beijing, with the second one to be located in the southern city of Guangzhou.
China isn’t the only country that is making moves in this aspect. A few weeks ago, the U.K. Law Commission announced it would review legal frameworks. This is to ensure that British courts remain a competitive choice for businesses that use smart contracts.
China has favored Blockchain over cryptocurrencies
Even though the Chinese government has cracked down on cryptocurrencies over the years, they remain bullish on blockchain technology.
Recently, authorities in the country alongside internet giants Alibaba, Tencent, and Baidu have cracked down on cryptocurrency activities. Authorities in Beijing and Guangzhou banned all crypto-related activities in the region.
Ant Financial and WeChat Pay also stopped users from using their payment platforms to pay for cryptocurrencies. WeChat followed that up with banning all posts about ICOs and crypto trading on its platform.
Baidu made similar moves, banning cryptocurrency forums on Baidu Tieba, the firm’s Reddit-like online platform.
The story is different for Blockchain though which has received widespread adoption in the country.
Alibaba leads the other companies globally in filing Blockchain patents, with Tencent also filing patents of its own.
The country’s embrace of Blockchain technology is clear as 56% percent of all issued distributed technology-related patents in the world belong to companies there.