Related papers: Literature Review: Smart Contract Semantics
Implementing smart contracts to automate the performance of high-value over-the-counter (OTC) financial derivatives is a formidable challenge. Due to the regulatory framework and the scale of financial risk if a contract were to go wrong,…
In this note we describe the application of existing smart contract technologies with the aim to construct a new digital representation of a financial derivative contract. We compare several existing DLT based technologies. We provide a…
Formal verification entails testing software to ensure it operates as specified. Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code. They run on blockchain platforms and…
A smart contract is a computer program which allows users to automate their actions on the blockchain platform. Given the significance of smart contracts in supporting important activities across industry sectors including supply chain,…
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…
Smart contracts codify real-world transactions and automatically execute the terms of the contract when predefined conditions are met. This paper proposes SmartML, a modeling language for smart contracts that is platform independent and…
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…
Blockchain and Distributed ledger Technologies are increasingly becoming key enablers for vital innovation in financial services, manufacturing, government and other industries. One of the biggest challenges though is the level of support…
The blockchain constitutes a technology-based, rather than social or regulation based, means to lower uncertainty about one another in order to exchange value. However, its use may very well also lead to increased complexity resulting from…
Smart contracts are tools with self-execution capabilities that provide enhanced security compared to traditional contracts; however, their immutability makes post-deployment fault correction extremely complex, highlighting the need for a…
Smart Contracts use computer technology to automate the performance of aspects of commercial agreements. Yet how can there be confidence that the computer code is faithful to the intentions of the parties? To understand the depth and…
Nowadays, smart contracts have become increasingly popular and, as with software development in general, testing is the standard method for verifying their correctness. However, smart contracts require a higher level of certainty regarding…
Nowadays, sophisticated domains are emerging which require appropriate formalisms to be specified accurately in order to reason about them. One such domain is constituted of smart contracts that have emerged in cyber physical systems as a…
Smart contracts are programs that execute transactions involving independent parties and cryptocurrencies. As programs, smart contracts are susceptible to a wide range of errors and vulnerabilities. Such vulnerabilities can result in…
The ability to negotiate contracts for a wide range of aspects and to provide services conforming to them is a most pressing need in service-oriented architectures. High-level models of contracts are making their way into the area, but…
Smart contracts are blockchain-based algorithms that execute when specific criteria are satisfied. They are often used to automate the implementation of an agreement so that all parties may be confident of the conclusion right away, without…
The paper develops a logical understanding of processes for signature of legal contracts, motivated by applications to legal recognition of smart contracts on blockchain platforms. A number of axioms and rules of inference are developed…
The paper outlines ongoing research on logic-based tools for the analysis and representation of legal contracts of the kind frequently encountered in large-scale engineering projects and complex, long-term trading agreements. We consider…
We argue that there is a hierarchy of levels describing to that particular level relevant features of reality behind the content and behavior of blockchain and smart contracts in their realistic deployment. Choice, design, audit and legal…
Smart contracts manage blockchain assets and embody business processes. However, mainstream smart contract programming languages such as Solidity lack explicit notions of roles, action dependencies, and time. Instead, these concepts are…