Definitions
205 ILCS 730/5
in effect(205 ILCS 730/5) 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. "Cryptographic hash" means a mathematical algorithm which performs a one-way conversion of input data into output data of a specified size to verify the integrity of the data. "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. "Electronic record" means a record created, generated, sent, communicated, received, or stored by electronic means, including a blockchain or a smart contract. "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. "Smart contract" means a contract stored as an electronic record which is verified by the use of a blockchain. (Source: P.A. 101-514, eff. 1-1-20.)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.ilga.gov/legislation/ilcs/ilcs.aspFetched: 10/17/2026