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The R3 blockchain consortium, representing over fifty major corporations from around the world, is leading a group of banks, and other institutions to develop master templates for smart contracts. Barclays, the International Swaps and Derivatives Association (ISDA) are among those collaborating in exploring smart contracts operating on distributed and shared ledgers.
The group explain their longer term goals include working with the legal community and academics to investigate how to take smart contracts to a point where they can be admissible in court and used for entry into dispute resolution.
Richard Brown, Chief Technology Officer at R3, commented: “The promise of distributed ledger ... (read more)