Illinois bill plans to interfere with blockchain’s immutability aspect
The crypto community has mocked a recently introduced Illinois Senate Bill for its “unworkable” plans to push blockchain miners and validators to do impossible things, such as reverse transactions if ordered to do so by a state court.
Titled the Digital Property Protection and Law Enforcement Act, the bill would allow courts to order a blockchain transaction executed via a smart contract to be altered or rescinded if the attorney general or a state attorney makes such a request.
From the synopsis:
Provides that a blockchain network that processes a blockchain transaction originating in the State at any time after the effective date of the Act shall process a court-ordered blockchain transaction without the need for the private key associated with the digital property or smart contract.
From the above article:
The bill also appears to require anyone who uses a smart contract to deliver goods and services to include code in the smart contract that can be used to abide by court orders.
OK, this smells like one more law that is designed to both destroy the current crypto market and, at the same time, usher in the controlled-crypto as envisioned by the banksters and the totalitarian elite.
I mean, a central bank would not wish to be seen aiding any fraud, hence may well include some form of reversibility within their CBDC, or at least demand such a thing from their bankster brethren managing the wallets of the great unwashed.
There is the stench of a plan, as the jigsaw pieces of the new digital prison start to fit together.
I never understood the fun of doing large jigsaw puzzled when you know what the picture is supposed to be!!
Much more interesting figuring out the full picture ;-)
What node, lol come back with a warrant. Going to be cute watching them try to regulate the miners and node operators lol