1.  ’Blockchain’ means an electronic record of transactions or other data which is:

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

(a) Uniformly ordered;

(b) Processed using a decentralized method by which one or more computers or machines verify the recorded transactions or other data;

(c) Redundantly maintained by one or more computers or machines to guarantee the consistency or nonrepudiation of the recorded transactions or other data; and

(d) Validated by the use of cryptography.

2.  The term includes, without limitation, a public blockchain.