Regulating Blockchain Smart Contracts with Agent-Based Markets

• Type: Article in International Conference Proceedings Book
• Date: 2019

Authors

Thiago R. P. M. Rúbio (Author) Other; Zafeiris Kokkinogenis (Author) FEUP; Henrique Lopes Cardoso (Author) FEUP; Rosaldo J. F. Rossetti (Author) FEUP; Eugénio Oliveira (Author) FEUP

Conference proceedings International

Title: Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)

Pages: 399-411

19th EPIA Conference on Artificial Intelligence, EPIA 2019

3 September 2019 through 6 September 2019

Indexing

Scopus - 1 Citation

Other information

Authenticus ID: P-00R-4HS

DOI: 10.1007/978-3-030-30241-2_34

Abstract (EN): The fast pace in blockchain development introduced the concept of Smart Contract as a way to deploy digital contracts as pieces of code on the blockchain network. Smart contracts differ from the traditional ones in many aspects related to their automated execution. Still, there are many open issues, such as legal frameworks and regulatory aspects. The study of agreement technologies and agent-based market systems have already dealt with some of these issues and can help us discuss solutions for the future. In this paper, we present an overview of the agreement pipeline, considering regulation-enabled systems and compare the implementation of auction agreements purely on the blockchain with a hybrid approach where markets are active agents that can ensure regulation outside the contractual phase and contract execution runs on blockchain. We have compared the cost of failing negotiations, that is always charged in the blockchain case. © Springer Nature Switzerland AG 2019.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 13