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Smart Contract Templates: legal semantics and code validation

Clack, C; (2018) Smart Contract Templates: legal semantics and code validation. Journal of Digital Banking , 2 (4) pp. 338-352.

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Abstract

Smart Contract Templates support legally-enforceable smart contracts, using operational parameters to connect legal agreements to standardised code. The standardised code is derived from legal documentation and performs some or all of the provisions of that contract. For financial contracts such as derivatives agreements the legal documentation may be extensive and the standardised code to perform the contract may be substantial. An important issue is how to validate whether the smart contract code will correctly perform the provisions of the legal contract. This requires an understanding of the semantics of legal text, and is an important step towards supporting industry adoption of legally-enforceable high-value smart contracts.

Type: Article
Title: Smart Contract Templates: legal semantics and code validation
Publisher version: https://www.henrystewartpublications.com/jdb/v2
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Smart Contract, Smart Contract Templates, Semantics, Automation, Distributed Ledger
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Computer Science
URI: https://discovery.ucl.ac.uk/id/eprint/10074622
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