Importance of Smart Contract Templates for Future Development

A report titled ‘Smart Contract Templates: foundations, design landscape and research directions’ was published recently, examining some areas of focus and interest for the future of smart contracts. Christopher D. Clack Centre, Blockchain Technologies Department of Computer Science at University College London; Vikram A. Bakshi and Lee Braine from Investment Bank CTO Office at Barclays, covered a framework for smart contracts with both operational and non-operational aspects.

In the document, the authors describe templates and agreements for legally-enforceable smart contracts, based on legal documents. Integral to this, the authors conclude, is a common language in both code and law to prevent the need for a new template to be drawn up each time a new contract is created, more efficient methods are ones that will attract and retain interest which is crucial for mass adoption.

 

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