User Agreements. Next steps • Look at the agreements that exist today and determine how much those agreements need to change to accommodate the technology • Learn from currently existing electronic trading agreements • Explore the identity question as it relates to signatures • Continue dialogue with regulators • These must be done in parallel with the analysis of enforceability of smart contracts and the suitability of contracts for conversion into “smart contracts” UNRESTRICTED 119

2nd R3 Smart Contract Templates  Summit (All Slides) - Page 120 2nd R3 Smart Contract Templates Summit (All Slides) Page 119 Page 121