Cardano is host to the first smart contract where Argentina’s courts have jurisdiction after the country legalized crypto as a payment method in commercial contracts last December.
Cardano is now host to the first legally enforceable smart contract on its network, which was signed in and is under the jurisdiction of Argentina’s courts.
The contract is a loan agreement between Cardano ambassadors Mauro Andreoli and Lucas Macchia for 10,000 Cardano (ADA) tokens — worth $3,380 — payable in 4 months at an interest rate of 10%.
It’s the first time an Argentine court could enforce full payment in ADA from a Cardano smart contract, Andreoli explained in an Oct. 8 X post.
