ENFORCEABILITY OF “SMART” LEGAL CONTRACTS • “Smart” legal contracts are not the first contracts to rely on data and promises memorialized in an electronic format • In the early 1960’s Ed Guilbert develops an electronic message format for sending information about cargo between Du Pont and Chemical Leahman Tank Lines. • 1965, the Holland- America steamship line begins sending trans-Atlantic shipping manifests using telex messages and converting the messages into tape that could be loaded into their computers • Today, over one hundred thousand companies in the United States use an EDI solution to communicate with their business partners. UNRESTRICTED 143
2nd R3 Smart Contract Templates Summit (All Slides) Page 143 Page 145