Clack, CD;
Bakshi, VA;
Braine, L;
(2016)
Smart Contract Templates: foundations, design landscape and research directions.
ArXiv: UK.
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Abstract
In this position paper, we consider some foundational topics regarding smart contracts (such as terminology, automation, enforceability, and semantics) and define a smart contract as an automatable and enforceable agreement. We explore a simple semantic framework for smart contracts, covering both operational and non-operational aspects, and describe templates and agreements for legally-enforceable smart contracts, based on legal documents. Building upon the Ricardian Contract, we identify operational parameters in the legal documents and use these to connect legal agreements to standardised code. We also explore the design landscape, including increasing sophistication of parameters, increasing use of common standardised code, and long-term research.
| Type: | Working / discussion paper |
|---|---|
| Title: | Smart Contract Templates: foundations, design landscape and research directions |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | https://doi.org/10.48550/arXiv.1608.00771 |
| Language: | English |
| Additional information: | c Barclays Bank PLC 2016 This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY). Provided you adhere to the CC BY license, including as to attribution, you are free to copy and redistribute this work in any medium or format and remix, transform, and build upon the work for any purpose, even commercially. BARCLAYS is a registered trade mark of Barclays Bank PLC, all rights are reserved. |
| Keywords: | smart contracts, blockchains |
| 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/1507924 |
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