Mattereum consultants assist clients in the design and implementation of dispute resolution and enforcement for smart contract systems
infographic
Self-executing smart contracts
Business depends on contracts – legally binding commercial agreements. Blockchain technology enables suppliers and customers to automate their legally binding commitments to one another, using smart contract code:
  • payments and transfers of digital assets are performed automatically;
  • evidence of transfers of physical assets or performance of services are recorded on a shared blockchain;
  • accounting is consistent and transparent;
  • smart contracts allow the automation of business processes between organizations, as well as within them.
Ricardian contracts

Payments and transfers of digital assets can be performed immediately using smart contracts. But to use smart contracts in relation to goods and services in the material world, additional legal infrastructure is required.

The Ricardian contract was developed by our Chief Scientist, Ian Grigg, in the 1990s. It combines smart contract code with a written legal contract to connect real world assets and obligations to their digital representations and to ensure the correct interpretation in cases such as:

  • software bugs,
  • blockchain forks,
  • human error,
  • unanticipated circumstances,
  • cross-border disputes.
Dispute resolution
Using Mattereum’s decentralized dispute resolution and enforcement platform, claims are resolved by technically competent, independent arbitrators whose decisions are internationally recognized and can be directly enforced in the countries where businesses or assets are located:
  • design of dispute resolution procedures, including multiple tracks for dispute resolution, ranging from cost-effective procedures for small claims to optional case management and an expedited procedure for more complex cases;
  • a global training programme and technical accreditation for arbitrators, building an international pool of technically competent arbitrators;
  • collaboration with major arbitration associations worldwide;
  • design of commercial and financial contracts to take advantage of the Mattereum Smart Property Register, enabling counterparties to commit real world assets as security for contractual obligations.