Abstracting Business operations Can we do the same for smart contracts? Would it be possible to have a platform independent, legally binding means of defining the operation of smart contracts. For example, would it be possible to have a Delivery vs Payment (DVP) contract defined by the following tag: The rights and obligations of all parties entering into this DVP contract, along with the operation of the contract would be defined in legally enforceable language. Why would this be useful? 1. It would allow parties to enter into a fully defined legal contract, without having to worry about the code implementation 2. The legal definition would only need to be made once when the Tag is initially created / defined. 3. Developers would have a very clear business definition that describes exactly how the contract should operate and what they should code, leaving no room for misinterpretation 4. Operation across ledgers, while complex, would become a purely technical problem. Both parties will be agreeing to identical versions of the legal agreement, tags and parameters; this will not (if correctly coded) be affected by the underlying ledger technology. UNRESTRICTED 105