The term “smart contract” has been coined to describe computer protocols that facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts can be used to make loans, issue securities or perform any number of more complex financial transactions. Many contractual arrangements include clauses that are triggered by data-driven events that could activate, shut down or change the terms of the agreement. Data standards, like XBRL, will play an important role in facilitating smart contracts.
Attend this one-hour session to hear experts about the proposed infrastructure for smart contracts, how they work and what kind of digital agreements we can expect to see in the future.
- Jeff Billingham, VP, Markit
- Seth Philips, Bankchain Product Manager, itBit