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The Supreme Court of China recognizes blockchain as legal evidence

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According to CoinDesk reported that Chinese Supreme People’s Court on Friday issued new regulations, approved block chain of authenticity, that it can be used as legal evidence for Chinese legal disputes.

According to reports, the new rules of the court will take effect immediately after it is released on Friday. The new rules clarify various issues related to how Chinese Internet courts should review legal disputes. It stipulates that the Chinese Internet Court should recognize the legitimacy of the blockchain as a method of storing and authenticating digital evidence, provided that the parties can prove the legitimacy of the blockchain technology used in the process.

“If the parties collect and pass blockchains with digital signatures, reliable timestamps and hash verification, or collect and store such data through digital deposition platforms, Internet courts should acknowledge the digital data submitted as evidence and may Prove the authenticity of the technology used,” the Supreme Court said.

The ruling is in response to various problems that have arisen since China established its first Internet court in Hangzhou last year — a problem that deals with Internet-based issues, often involving digital data.

CoinDesk reported in June that the Hangzhou Internet Court ruled in a copyright infringement case that evidence based on blockchain is legally acceptable.

The court said that the new regulations were unanimously agreed by the judging panel of the organization at the most recent meeting on September 3.

The report believes that the ruling is timely, as China is preparing to establish two new Internet courts in Beijing and Guangzhou.

This article is writing on 10 Sept 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: support@coinworldstory.com Or Whatsapp Us- +13098896258

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