**Cardano Makes History with First Legally Enforceable Smart Contract in Argentina**

Cardano has achieved a significant milestone by hosting its first legally enforceable smart contract, under the jurisdiction of Argentina's courts. The contract, a loan agreement for 10,000 ADA tokens (worth $3,380), was signed by Cardano ambassadors Mauro Andreoli and Lucas Macchia. The loan is payable in four months with a 10% interest rate.

Andreoli announced the achievement on Oct. 8, highlighting its potential to streamline commercial agreements and establish favorable jurisprudence in Argentina. This development could pave the way for broader acceptance of smart contracts in various legal contexts, including rentals and purchase agreements.

Argentina already has a robust legal framework for commercial contracts, and this new step aims to educate judges about the benefits of blockchain technology. The contract's timing is notable, as Cardano founder Charles Hoskinson is set to meet Argentina's President Javier Milei at the Cardano Summit 2024 in Buenos Aires.

This move follows global trends, with courts in the U.S. and the U.K. also adopting blockchain technology for legal proceedings.