Rules have come into effect in China that for the first time stipulate the scope of validity of blockchain deposits. The People’s Court Online Litigation Rules, issued by the Supreme People’s Court, took effect yesterday.
Fast facts
- Three of the articles concern blockchain evidence, one clarifies the presumption of the effectiveness without tampering after data is stored on a blockchain, and the other two stipulate the authenticity of verification rules for blockchain evidence.
- Prior to this, China’s Supreme People’s Court had recognized in in a regulation issued in 2018 that blockchain data could be used as valid evidence. As of March 2021, 65 cases had involved the use of blockchain evidence in China, according to an article published by All Bright Law, a law firm.
- At present, blockchain evidence certification platforms recognized in Chinese court judgments include Baoquan.com, Ebaoquan.org and IP360.net, according to an article by law firm King & Wood Mallesons.
- Blockchain certifications have also started to permeate daily life. Tencent has added an IOU platform supported by blockchain technology to its WeChat application, providing users with electronic signature services for personal lending contracts.
