Ohio Political Subdivisions Must Adopt Credit Card Use Policies by February 2019

Many political subdivisions in Ohio have credit card use policies to ensure that credit card accounts are only used for authorized purchases and to establish procedures for the issuance, management, use, and cancellation of credit card accounts. These polices will need to be reviewed and updated to comply with a new Ohio law (House Bill 312) that became effective this month and which is aimed at fighting credit card abuse in Ohio’s local governments. The main provisions of the bill are outlined below: [More]

New Smart Contracts on Blockchain Increase Efficiency and Security

Smart contracts are becoming a very viable option today as blockchain technology emerges in the marketplace.
In simple terms, a smart contract is a computer program with conditions encoded into its language. Once agreed upon, it is placed on blockchain – a digital ledger that records transactions in cryptography. Each transaction is recorded chronologically and publicly. Blockchain is highly resistant to modification, so smart contracts allow trackable, irreversible transactions without third-party intermediaries. [More]