Ontologies for commitment-based smart contracts

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

11 Citations (Scopus)

Abstract

Smart contracts gain rapid exposure since the inception of blockchain technology. Yet there is no unified ontology for smart contracts. Being categorized as coded contracts or substitutes of conventional legal contracts, there is a need to reduce the conceptual ambiguity of smart contracts. We applied enterprise ontology and model driven architectures to abstract smart contracts at the essential, infological and datalogical level to explain the system behind computation and platform independent smart contracts rather than its functional behavior. This conceptual paper introduces commitment-based smart contracts, in which a contract is viewed as a business exchange consisting of a set of reciprocal commitments. A smart contract ensures the automated execution of most of these commitments.
Original languageEnglish
Title of host publicationOn The Move to Meaningful Information Systems
Subtitle of host publicationProceedings OTM 2017
EditorsH Panetto, C. Debruyne, W. Gaaloul, M. Papazoglou, A. Paschke, C.A. Ardagna, R. Meersman
PublisherSpringer Verlag
Pages383-398
Volume10573-10574
ISBN (Electronic)9783319694597
Publication statusPublished - Oct 2017

Publication series

NameLecture Notes in Computer Science
Volume10574

Keywords

  • blockchan
  • commitments
  • commitment-based smart contracts
  • enterprise ontology
  • model driven architecture

Fingerprint Dive into the research topics of 'Ontologies for commitment-based smart contracts'. Together they form a unique fingerprint.

Cite this