• October 15, 2024

Stocks open mixed, financials lead as bank earnings roll out

US stocks are mixed at Tuesday's market open, with the Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) slightly above their flatlines while the Dow Jones Industrial Average (^DJI) edges deeper into negative territory. Morning Brief anchor Seana Smith surveys the market action following the opening bell, examining crude oil (CL=F, BZ=F) trends and the financial sector (XLF) after Bank of America (BAC), Goldman Sachs (GS), and Citigroup (C) posted third quarter earnings results this morning. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Luke Carberry Mogan.

  • October 15, 2024

Argentina Recognizes Legal Validity of Blockchain-Based Smart Contracts

According to BlockBeats, on October 15, the Argentine judiciary has officially recognized the legal validity of blockchain-based smart contracts for the first time. This landmark decision grants legal enforceability to smart contracts in Argentina, paving the way for their application in various commercial fields such as lease agreements and purchase payments.The first legally recognized smart contract is a loan agreement built on the Cardano blockchain. This contract was established by two Argentine Cardano ambassadors, Mauro Andreoli and Lucas Macchia, involving a four-month loan of 10,000 ADA (approximately $3,430) with an annual interest rate of 10%. Andreoli stated, "We have just signed the first legally and judicially binding contract on the Cardano network that fully complies with the laws of the Argentine Republic." He emphasized that any breach of this contract could be enforced in court, requiring obligations to be fulfilled in ADA.To ensure the legal validity of the smart contract, both parties also signed a supplementary legal document detailing the contract's content, the blockchain used, and the transaction IDs of the relevant wallet addresses. This approach may set a standard process for the future legalization of smart contracts.