publication . Preprint . 2016

Smart Contract Templates: essential requirements and design options

Clack, Christopher D.; Bakshi, Vikram A.; Braine, Lee;
Open Access English
  • Published: 14 Dec 2016
Abstract
Smart Contract Templates support legally-enforceable smart contracts, using operational parameters to connect legal agreements to standardised code. In this paper, we explore the design landscape of potential formats for storage and transmission of smart legal agreements. We identify essential requirements and describe a number of key design options, from which we envisage future development of standardised formats for defining and manipulating smart legal agreements. This provides a preliminary step towards supporting industry adoption of legally-enforceable smart contracts.
Subjects
ACM Computing Classification System: ComputingMilieux_LEGALASPECTSOFCOMPUTING
free text keywords: Computer Science - Computers and Society, K.4.3, K.4.4
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25 references, page 1 of 2

[1] Axoni. Axoni Core, 2016. https://axoni.com/.

[2] L. Braine. Barclays' Smart Contract Templates, 2016. Barclays London Accelerator, https://vimeo.com/168844103/ and http://www.ibtimes.co.uk/barclays-smart-contracttemplates-heralds-first-ever-public-demo-r3s-corda-platform-1555329/.

[3] C.D Clack, V.A Bakshi, and L. Braine. Smart Contract Templates: foundations, design landscape and research directions. The Computing Research Repository (CoRR), abs/1608.00771, 2016. Also at arXiv.org: http://arxiv.org/abs/1608.00771/.

[4] ClauseMatch, 2016. http://www.clausematch.com/.

[5] Common Form, 2016. https://commonform.org/.

[6] CommonAccord, 2016. http://www.commonaccord.org/.

[7] Corda, 2016. https://www.corda.net/.

[8] Digital Asset. The Digital Asset Platform - Non-technical White Paper, 2016. Available at https://digitalasset.com/press/digital-asset-releases-non-technical-white-paper.html.

[9] ECMA International. The JSON Data Interchange Format, 2016. http://www.ecmainternational.org/publications/files/ECMA-ST/ECMA-404.pdf.

[10] Enterprise Data Management Council (EDM Council). Financial Industry Business Ontology, 2016. http://www.edmcouncil.org/financialbusiness/.

[11] Ethereum, 2016. https://www.ethereum.org/.

[12] Financial products Markup Language (FpML), 2016. http://www.fpml.org/.

[13] I. Grigg. The Ricardian Contract. In Proceedings of the First IEEE International Workshop on Electronic Contracting, pages 25-31. IEEE, 2004. http://iang.org/papers/ ricardian_contract.html.

[14] I. Grigg. The Sum of All Chains - Let's Converge!, 2015. Presentation for Coinscrum and Proof of Work. http://financialcryptography.com/mt/archives/001556.html.

[15] HotDocs, 2016. http://www.hotdocs.com/.

25 references, page 1 of 2
Abstract
Smart Contract Templates support legally-enforceable smart contracts, using operational parameters to connect legal agreements to standardised code. In this paper, we explore the design landscape of potential formats for storage and transmission of smart legal agreements. We identify essential requirements and describe a number of key design options, from which we envisage future development of standardised formats for defining and manipulating smart legal agreements. This provides a preliminary step towards supporting industry adoption of legally-enforceable smart contracts.
Subjects
ACM Computing Classification System: ComputingMilieux_LEGALASPECTSOFCOMPUTING
free text keywords: Computer Science - Computers and Society, K.4.3, K.4.4
Download from
25 references, page 1 of 2

[1] Axoni. Axoni Core, 2016. https://axoni.com/.

[2] L. Braine. Barclays' Smart Contract Templates, 2016. Barclays London Accelerator, https://vimeo.com/168844103/ and http://www.ibtimes.co.uk/barclays-smart-contracttemplates-heralds-first-ever-public-demo-r3s-corda-platform-1555329/.

[3] C.D Clack, V.A Bakshi, and L. Braine. Smart Contract Templates: foundations, design landscape and research directions. The Computing Research Repository (CoRR), abs/1608.00771, 2016. Also at arXiv.org: http://arxiv.org/abs/1608.00771/.

[4] ClauseMatch, 2016. http://www.clausematch.com/.

[5] Common Form, 2016. https://commonform.org/.

[6] CommonAccord, 2016. http://www.commonaccord.org/.

[7] Corda, 2016. https://www.corda.net/.

[8] Digital Asset. The Digital Asset Platform - Non-technical White Paper, 2016. Available at https://digitalasset.com/press/digital-asset-releases-non-technical-white-paper.html.

[9] ECMA International. The JSON Data Interchange Format, 2016. http://www.ecmainternational.org/publications/files/ECMA-ST/ECMA-404.pdf.

[10] Enterprise Data Management Council (EDM Council). Financial Industry Business Ontology, 2016. http://www.edmcouncil.org/financialbusiness/.

[11] Ethereum, 2016. https://www.ethereum.org/.

[12] Financial products Markup Language (FpML), 2016. http://www.fpml.org/.

[13] I. Grigg. The Ricardian Contract. In Proceedings of the First IEEE International Workshop on Electronic Contracting, pages 25-31. IEEE, 2004. http://iang.org/papers/ ricardian_contract.html.

[14] I. Grigg. The Sum of All Chains - Let's Converge!, 2015. Presentation for Coinscrum and Proof of Work. http://financialcryptography.com/mt/archives/001556.html.

[15] HotDocs, 2016. http://www.hotdocs.com/.

25 references, page 1 of 2
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