The Argentine judiciary has recognized the legal validity of smart contracts for the first time

Argentina's judiciary recently recognized the legal validity of blockchain-based smart contracts for the first time, marking a major breakthrough in the country's application of blockchain technology. This decision gives smart contracts legal feasibility in Argentina, paving the way for their application in commercial fields such as lease agreements and purchase payments. It is reported that the first legally recognized smart contract is a loan agreement built on the Cardano blockchain. The contract was reached by two Argentine Cardano ambassadors, Mauro Andreoli and Lucas Macchia, and involved a four-month loan of 10,000 ADA (about $3,430) with an annual interest rate of 10%.