New York Assemblyman Clyde Vanel has introduced proposals in the state legislature for four laws which, if passed, could transform how the State of New York interacts with and views blockchain technology.

The first proposal, NY A08780, would amend the state’s technology law to allow for signatures obtained via blockchain technology to be recognized as valid electronic signatures, and for smart contracts to operate in commerce by defining a record or contract secured through blockchain technology as an electronic record. This is similar to efforts in other states (see, for example, a law recently enacted by Arizona on this issue).