Smart Contract Templates: Legal semantics and code validation

Christopher D. Clack
Additional contact information
Christopher D. Clack: University College London, UK

Journal of Digital Banking, 2018, vol. 2, issue 4, 338-352

Abstract: The Smart Contract Templates project supports 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.

Keywords: smart contract; Smart Contract Templates; semantics; automation; distributed ledger (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://hstalks.com/article/3028/download/ (application/pdf)
https://hstalks.com/article/3028/ (text/html)
Requires a paid subscription for full access.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aza:jdb000:y:2018:v:2:i:4:p:338-352

Access Statistics for this article

More articles in Journal of Digital Banking from Henry Stewart Publications
Bibliographic data for series maintained by Henry Stewart Talks ().