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Cardano’s Shocking Admission That Smart Contracts Are Actually Law in Argentina (You Won’t Believe the ‘Interest’ Rate)

BlockchainCrypto NewsFeatured Barry Thompson October 10, 2024

A stylized illustration depicting two figures shaking hands in front of a Buenos Aires cityscape at sunset, with subtle blockchain-inspired patterns and lines emanating from their outstretched hands. A small loan agreement document is visible on top of a desk between them.

Just when you thought Cardano couldn’t get any more ‘ legit’… Argentinian courts are now hosting their first smart contract that’s literally been signed by a judge and has teeth (well sort of). Mauro Andreoli, aka the human version of Jemima Kelly , just hosted this monumental milestone on his network. He lent 10k ADA to Lucas Macchia in exchange for some IOU tokens – because what could possibly go wrong with that? The kicker is it’s got a legit interest rate and everything (just don’t expect any actual money changing hands, we’re still living in the crypto wild west here). This ‘milestone’ will supposedly educate Argentine courts on how to deal with smart contracts. Too little too late for me though – I’ve been saying this since 2018: Crypto is just a fancy way of describing .

Source: cointelegraph

Cardano hosts first smart contract legally enforceable in Argentina
https://cointelegraph.com/news/legally-enforcible-cardano-smart-contract-argentina
Cardano is hosting on its network the first legally enforceable smart contract signed in Argentina and under the jurisdiction of its 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 four months at a 10% interest rate.  It’s the first time an Argentine court can enforce full payment in ADA from a Cardano smart contract, Andreoli explained […]

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About the author

Barry Thompson

Barry’s crypto nightmare began when he bought Bitcoin at $3, thinking he’d stumbled upon the financial opportunity of a lifetime. He sold his stash at $100, only to watch in dismay as Bitcoin soared to absurd heights. Now, Barry channels his rage into scathing articles about the crypto circus, seething with resentment at the digital gold rush he barely missed. His motto: “I sold out at $100, but the joke’s on me because the real joke was believing in this absurd circus.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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