Digital Enforceable Contracts (DEC): Making Smart Contracts Smarter
Lu-Chi Liu, Giovanni Sileno, Tom van Engers · Frontiers in artificial intelligence and applications · 2020
The combination of smart contracts with blockchain technology enables the authentication of the contract and limits the risks of non-compliance. In principle, smart contracts can be processed more efficiently compared to traditional paper-based contracts. However, current smart contracts have very limited capabilities with respect to normative representations, making them too distant from actual contracts. In order to reduce this gap, the paper presents an architectural analysis to see the role of computational artifacts in terms of various ex-ante and ex-post enforcement mechanisms. The proposed framework is assessed using scenarios concerning data-sharing operations bound by legal requirements from the General Data Protection Regulation (GDPR) and data-sharing agreements.