Abstract
Smart contracts gain rapid exposure since the inception of blockchain
technology. Today's smart contracts are coded in non-mainstream
procedural programming languages (e.g. Solidity for Ethereum),
which lifts the requirement to draft enterprise ready smart contract to
both a legal professional and a programmer instead of only the former.
In search for a smart contract language that reduces the threshold to
draft one, this conceptual paper elaborates how business logic can be
converted to executable code for commitment-based smart contracts.
Hereby, a contract is viewed as a set of reciprocal commitments. The
smart contract ensures the automated execution of all or most of these
commitments. In order to leverage its event processing capabilities,
Reaction RuleML has been used to appropriately represent the
elements and working of passive and active rules within a
commitment based smart.
technology. Today's smart contracts are coded in non-mainstream
procedural programming languages (e.g. Solidity for Ethereum),
which lifts the requirement to draft enterprise ready smart contract to
both a legal professional and a programmer instead of only the former.
In search for a smart contract language that reduces the threshold to
draft one, this conceptual paper elaborates how business logic can be
converted to executable code for commitment-based smart contracts.
Hereby, a contract is viewed as a set of reciprocal commitments. The
smart contract ensures the automated execution of all or most of these
commitments. In order to leverage its event processing capabilities,
Reaction RuleML has been used to appropriately represent the
elements and working of passive and active rules within a
commitment based smart.
| Original language | English |
|---|---|
| Title of host publication | Proceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) |
| Editors | Jaap Gordijn |
| Place of Publication | Amsterdam |
| Publisher | CEUR |
| Pages | 149-157 |
| Volume | 2239 |
| ISBN (Electronic) | 1613-0073 |
| Publication status | Published - Feb 2018 |
| Event | 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) - Amsterdam, Netherlands Duration: 26 Feb 2018 → 27 Feb 2018 |
Workshop
| Workshop | 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) |
|---|---|
| Abbreviated title | VMBO 2018 |
| Country/Territory | Netherlands |
| City | Amsterdam |
| Period | 26/02/18 → 27/02/18 |