(1) “Distributed ledger technology” means any distributed ledger protocol and supporting infrastructure, including blockchain, that uses a distributed, decentralized, shared, and replicated ledger, whether it be public or private, permissioned or permissionless, and which may include the use of electronic currencies or electronic tokens as a medium of electronic exchange; and
Terms Used In Tennessee Code 47-10-201
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(2) “Smart contract” means an event-driven computer program, that executes on an electronic, distributed, decentralized, shared, and replicated ledger that is used to automate transactions, including, but not limited to, transactions that:
(A) Take custody over and instruct transfer of assets on that ledger;(B) Create and distribute electronic assets;(C) Synchronize information; or(D) Manage identity and user access to software applications.
