Tennessee Code Title 48. Corporations and Associations § 48-250-101

(1) “Decentralized organization” means a decentralized organization, organized under this chapter;

(2) “Digital asset” means:

(3) “Distributed ledger technology” means a 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 that may include the use of electronic currencies or electronic tokens as a medium of electronic exchange;

(4) “Electronic,” relating to technology, means having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities;

(5) “Majority of the members” means the approval of more than fifty percent (50%) of participating membership interests in a vote for which a quorum of members is participating, excluding a person who dissociates from the organization as set forth in § 48-250-112;

(6) “Membership interest” means:

(7) “Publicly available identifier” includes, but is not limited to, a URL, contract address, published whitepaper, or other similar item that is available to the public;

(8) “Quorum” means a minimum requirement on the sum of membership interests participating in a vote for that vote to be valid;

(9) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form; and

(10) “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: