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Cardano has achieved a significant milestone by hosting its first legally enforceable smart contract in Argentina.
Input Output Global CTO Romain Pellerin highlighted this milestone in a recent tweet, saying: "Cardano paves the way of legally enforceable smart contracts in Argentina."
Cardano ambassador Mauro Andreoli recently informed the Cardano community of the signing of the first legally and judicially enforceable contract on the Cardano network, in full compliance with the laws of the Argentine Republic.
The contractual object was a loan of 10,000 ADA between Andreoli and Lucas Macchiain, with repayment in four months at a 10% interest rate. The transaction was notarized with the Transaction ID.
Andreoli and Macchia also signed a legal document outlining key details of the smart contract loan, such as the blockchain and wallet used and the transaction ID.
This means that thanks to the legal framework and process in place, any breach of obligations can be enforced in court and in ADA.
Tomiwabold OlajideSpeaking further on the milestone, Andreoli stated in an X reply: "We are only one step away of a Legal Smart Contract, with some technical support and taking care of some details, as an ecosystem we are only one step away from that goal."
"Cardano isn't dying": Charles Hoskinson
Cardano founder Charles Hoskinson has reaffirmed his belief in the Cardano blockchain in the face of rising criticism. "Cardano isn't dying. It's thriving and growing. It's also one of the last cryptocurrencies that still wants to be a real cryptocurrency and not the patron of Blackrock and Wall Street for number go up preferences," Hoskinson wrote.
In a tweet, Hoskinson called attention to the negative sentiment surrounding Cardano on X: "You all may have noticed that the Twitter sentiment around Cardano has been more negative lately. This change isn't a reflection of our project somehow failing, but rather the desired result of Voltaire."
Hoskinson cited a seeming reason for this: "There have been years of pent-up grievances, unexplored road map items, unfunded growth strategies, and needed partnerships that haven't been addressed due to Cardano's governance not scaling to meet the needs of the ecosystem."
Vladislav Sopov
Godfrey Benjamin
Dan Burgin
U.Today Editorial Team