Smart contracts provide automation in blockchain solutions. They are immutable, decentralized and deterministic, which make them ideal to remove third-parties and let peer-to-peer interactions. Once agreed between the parties and deployed on a distributed ledger, their activities and outcomes can be verified, so they can be trusted by all stakeholders. Everybody involved in DLTs are interested in smart contracts and the benefits they bring, but are also worried because there are many aspects about smart contracts they don't understand including legal and ethical insecurities. The main goal of this workgroup will be to give an academic perspective to this research topic and in parallel make clear to users, developers, researchers, businessmen, decision makers and others interested in smart contracts practical ways to utilize them on the different DLTs that are under the Hyperledger umbrella and explore all potentials from deploying them in everyday software solution scenarios.
Please see Charter for the full text of the charter..
The scope is to define concepts regarding smart contracts and to produce material to describe the various aspects and meanings, trying to come up to standards or good practices. The audience for smart contracts is large and spans from researchers, developers, businessmen, decision makers, policy makers, law makers, software users, citizens to governments, banks, financial institutions, insurance providers, etc
Two main research topics and separation of interests are:
Models of and mechanism for computation
Formal guarantees on outputs of smart contracts
Smart contract packaging, code reuse, and dependency auditing
Generation of smart contracts from existing artifacts (natural language, business process, state machines, non smart-contract code)
Data structures and state
Tooling and compilers for existing virtual machines
Design Patterns for Smart Contracts
Upgradeability of smart contracts
Smart contracts as representatives of obligations and fulfillment
Smart contracts law enforcement cascading actions
Please see Extended Scope for an extended version of Technology and Law topics.
These are the mechanisms that this working group uses to communicate.