Formalizing and Securing Relationships on Public Networks

@article{Szabo1997FormalizingAS,
  title={Formalizing and Securing Relationships on Public Networks},
  author={Nick Szabo},
  journal={First Monday},
  year={1997},
  volume={2}
}
  • Nick Szabo
  • Published 1 September 1997
  • Computer Science
  • First Monday
Smart contracts combine protocols with user interfaces to formalize and secure relationships over computer networks. Objectives and principles for the design of these systems are derived from legal principles, economic theory, and theories of reliable and secure protocols. Similarities and differences between smart contracts and traditional business procedures based on written contracts, controls, and static forms are discussed. By using cryptographic and other security mechanisms, we can… 

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