Last Friday, 7th September it was ruled by the Chinese Supreme Court that blockchains can now be used as legally binding evidence. These new rules will take immediate effect and mark a new advancement for the acceptance of the technology, as more states and governments move to recognise the immutability of the data held within these blockchains and its realibity when it comes to legal disputes.
The court said in a statement, which can be viewed in full here:
“Internet courts shall recognize digital data that is submitted as evidence if relevant parties collected and stored this data via blockchain with digital signatures, reliable timestamps and hash value verification or via a digital deposition platform.”
This is of course provided that the parties involved can prove the legitimacy of the technology. As such it stands to reason that more centralised Blockchains or smaller networks where this evidence is stored may not be considered by the court as ‘legal’.
This new ruling comes off the back of a previous court case regarding copyright infringment where the Hangzhou internet court stated that evidence stored in blockchains are “legaly acceptable” and comes just as China is setting up two new internet courts, one in Guangzhou and the other in Beijing.