September 4, 2017 Preprint Open Access

Sel, Marc; Diedrich, Henning; Demeester, Sander; Stieber, Harald

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{
  "publisher": "Zenodo", 
  "DOI": "10.5281/zenodo.884497", 
  "title": "How smart contracts can implement \"report once\"", 
  "issued": {
    "date-parts": [
      [
        2017, 
        9, 
        4
      ]
    ]
  }, 
  "abstract": "<p>This paper explains the main features of and motivation for the \u201creport once\u201d demonstrator1 shown at the 2017 Data For Policy conference. It shows how Ethereum2 smart contracts, based on the semantics and algorithmic representations defined in ACTUS3 can implement \u201cdigital doppelg\u00e4ngers\u201d of financial contracts. \u00a0\u00a0<br>\n\u00a0<br>\nThe implementation makes use of a private4 Ethereum blockchain, with smart contracts written in Solidity.5 The limitations of using ACTUS in a semi real-time scenario are explored, as well as how to overcome these limitations. \u00a0<br>\n\u00a0<br>\nThe major innovation, visualized by the demonstrator, is that compliance reports can be generated in semi realtime, using the information present in the \u201cdigital doppelg\u00e4ngers\u201d, residing in the blockchain. \u00a0<br>\n\u00a0<br>\nThe demonstrator supports various use cases, illustrated through the narration of stories. In these stories, Alice, Bob and Eve are contracting parties, Romeo acts as regulator, and the narrator tells the stories. \u00a0The stories cover trading a Bond, trading an Interest Rate Swap (IRS), the defaulting of a party (i.e. a payment stop), and various types of regulatory reports. \u00a0<br>\n\u00a0</p>", 
  "author": [
    {
      "family": "Sel, Marc"
    }, 
    {
      "family": "Diedrich, Henning"
    }, 
    {
      "family": "Demeester, Sander"
    }, 
    {
      "family": "Stieber, Harald"
    }
  ], 
  "id": "884497", 
  "event-place": "London", 
  "type": "article", 
  "event": "Data for Policy 2017: Government by Algorithm (Data for Policy)"
}