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- W4381734021 abstract "Smart contract platforms are part of broader technological development. Such platforms, and the smart contracts that exists thereon, cannot be considered in isolation. The relevant social and technological context in which the broader technological development takes place is a relevant circumstance that helps to understand the goals and purpose of those who design such instruments. This chapter explores the distributed nature of such platforms from a purely technological perspective and does so with special attention to the public-key cryptography that forms the foundation for such platforms. The manner in which cryptography can be used to introduce transparency will be illustrated. Additionally, the ways in which trust can be created in a pseudonymous environment and the manner in which this aligns with the ideals of those who drove such developments will be outlined. Additionally, the immutable nature of the platforms will be explored. Additionally, this chapter will show how smart contracts work and explain their core-characteristics. On the basis of this exploration, it will be shown why smart contracts are, first and foremost, technical concepts rather than legal concepts. Lastly, decentralised autonomous organizations as an application of smart contracting technology will be explored. This serves as an example of the potential of the technology, and serves to illustrate the questions that might arise from this technology and the potential legal implications. This chapter aims to illustrate how the technology under investigation in this book differentiates itself through five aspects: immutability, transparency, pseudonymity, automatic execution, and automatic enforcement." @default.
- W4381734021 created "2023-06-24" @default.
- W4381734021 creator A5004804616 @default.
- W4381734021 date "2023-01-01" @default.
- W4381734021 modified "2023-09-26" @default.
- W4381734021 title "Technology" @default.
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- W4381734021 doi "https://doi.org/10.1007/978-3-031-35407-6_2" @default.
- W4381734021 hasPublicationYear "2023" @default.
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