SMART CONTRACTS AND DLT:
Smart contracts and DLT are often talked of in the same breath but are distinct technologies – albeit complementary and, in some instances, symbiotically linked13. However, the advent of DLT has created a platform on which smart contracts can be hosted and executed. This has brought smart contract concepts into the mainstream. One of the most powerful inter-relationships between smart contracts and DLT can be seen in answer to the following question: computers that can automatically execute code have been around for ages, so why haven’t smart contracts been previously developed? It is true that the automation of certain elements of existing legal contracts has been feasible for some time. Since the advent of computers in a mainstream context, it would have been perfectly possible (at least technically) for contracting parties to program a computer to automatically execute an event, such as a payment under a contract upon satisfaction of pre-defined conditions (for example, that a stock price hits a pre-defined price).
I have SmartContractDLT.com
Smart contracts and DLT are often talked of in the same breath but are distinct technologies – albeit complementary and, in some instances, symbiotically linked13. However, the advent of DLT has created a platform on which smart contracts can be hosted and executed. This has brought smart contract concepts into the mainstream. One of the most powerful inter-relationships between smart contracts and DLT can be seen in answer to the following question: computers that can automatically execute code have been around for ages, so why haven’t smart contracts been previously developed? It is true that the automation of certain elements of existing legal contracts has been feasible for some time. Since the advent of computers in a mainstream context, it would have been perfectly possible (at least technically) for contracting parties to program a computer to automatically execute an event, such as a payment under a contract upon satisfaction of pre-defined conditions (for example, that a stock price hits a pre-defined price).
I have SmartContractDLT.com
