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Code · Illinois · Chapter 205 — FINANCIAL REGULATION · Act 725

Sec. 5. Definitions.

69 words·~1 min read·/il/chapter-205/act-725/5

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Sec. 5. Definitions. As used in this Act:
"Blockchain" means an electronic record created by the use of a decentralized method by multiple parties to verify and store a digital record of transactions which is secured by the use of a cryptographic hash of previous transaction information.
"Blockchain technology" means computer software or hardware or collections of computer software or hardware, or both, that utilize or enable a blockchain.
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