An introduction to commitment based smart contracts using ReactionRuleML

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

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.
LanguageEnglish
Title of host publicationProceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018)
EditorsJaap Gordijn
Place of PublicationAmsterdam
PublisherCEUR
Pages149-157
Volume2239
ISBN (Electronic)1613-0073
Publication statusPublished - Feb 2018
Event12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) - Amsterdam, Netherlands
Duration: 26 Feb 201827 Feb 2018

Workshop

Workshop12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018)
Abbreviated titleVMBO 2018
CountryNetherlands
CityAmsterdam
Period26/02/1827/02/18

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Cite this

de Kruijff, J., & Weigand, H. (2018). An introduction to commitment based smart contracts using ReactionRuleML. In J. Gordijn (Ed.), Proceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) (Vol. 2239, pp. 149-157). Amsterdam: CEUR.
de Kruijff, Joost ; Weigand, Hans. / An introduction to commitment based smart contracts using ReactionRuleML. Proceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) . editor / Jaap Gordijn. Vol. 2239 Amsterdam : CEUR, 2018. pp. 149-157
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de Kruijff, J & Weigand, H 2018, An introduction to commitment based smart contracts using ReactionRuleML. in J Gordijn (ed.), Proceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) . vol. 2239, CEUR, Amsterdam, pp. 149-157, 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) , Amsterdam, Netherlands, 26/02/18.

An introduction to commitment based smart contracts using ReactionRuleML. / de Kruijff, Joost; Weigand, Hans.

Proceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) . ed. / Jaap Gordijn. Vol. 2239 Amsterdam : CEUR, 2018. p. 149-157.

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

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AB - Smart contracts gain rapid exposure since the inception of blockchaintechnology. Today's smart contracts are coded in non-mainstreamprocedural programming languages (e.g. Solidity for Ethereum),which lifts the requirement to draft enterprise ready smart contract toboth a legal professional and a programmer instead of only the former.In search for a smart contract language that reduces the threshold todraft one, this conceptual paper elaborates how business logic can beconverted to executable code for commitment-based smart contracts.Hereby, a contract is viewed as a set of reciprocal commitments. Thesmart contract ensures the automated execution of all or most of thesecommitments. In order to leverage its event processing capabilities,Reaction RuleML has been used to appropriately represent theelements and working of passive and active rules within acommitment based smart.

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de Kruijff J, Weigand H. An introduction to commitment based smart contracts using ReactionRuleML. In Gordijn J, editor, Proceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) . Vol. 2239. Amsterdam: CEUR. 2018. p. 149-157