Definitions

205 ILCS 725/5
in effect
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(205 ILCS 725/5) 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. (Source: P.A. 101-259, eff. 6-1-20.)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.ilga.gov/legislation/ilcs/ilcs.aspFetched: 10/17/2026

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