The Cardano network achieved a major milestone by hosting its first legally enforceable smart contract signed in Argentina and under the jurisdiction of its courts. Input Output Global chief technology officer, Romain Pellerin, highlighted this historic feat in a recent post on X, stating: “Cardano paves the way of legally enforceable smart contracts in Argentina.” Cardano ambassador, Mauro Andreoli, announced the signing of the first legally and judicially enforceable contract on the Cardano network, over which Argentina’s courts have jurisdiction.
The contract is a loan agreement between Andreoli and Lucas Macchia for 10,000 Cardano (ADA) tokens, valued at around $3,380, with four-month repayment at a 10% interest rate. Andreoli posited in a recent X post that this marks the first time an Argentine court can implement full payment in the ADA cryptocurrency from a Cardano smart contract.