A new consortium that includes Australia’s best known research organisation aims to build a platform allowing businesses to take advantage of ‘smart’ contracts with self-executing clauses.
smart contracts - News, Features, and Slideshows
The Commonwealth Bank of Australia has participated in what the bank describes as a world first: A global transaction employing a ‘smart contract’ that uses a distributed ledger inspired by the design of Bitcoin’s blockchain.
Contract law has been a fundamental cornerstone of the formation of modern human society. Smart contracts, an expression coined by Nick Szabo, represent a digital evolution of contracts.