Smart Contract Authoring with Decision Tables and Versioned Execution
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Solution Overview
Problem
Smart contracts face challenges such as technical complexity, programming errors, immutability, readability, resiliency requirements, capturing mutual agreement, trust in funds availability, and manual invocation, which hinder their user-friendly implementation and automation.
Innovation Solution
A system that allows business users to model smart contracts using decision tables and configuration parameters, generating a rule façade, multi-sign wallet, escrow account, and rules contract programs, enabling automated execution and version management on a distributed ledger.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Extent of automation
If smart contracts are implemented using traditional programming approaches, then automation and efficiency are improved, but technical complexity and difficulty of creation increase
Solution Approach 1:
The patent introduces an intermediary layer between the user and the smart contract execution engine. This intermediary translates natural language or simplified input into executable smart contract code, allowing users to create automated contracts without needing programming expertise. The intermediary handles the complexity of code generation, validation, and deployment while presenting a simple interface to the user.
2Manufacturing precision
If smart contracts are created with specialized technical skills, then programming precision is improved, but ease of manufacture deteriorates
Solution Approach 1:
The system enables self-service smart contract creation by automatically generating the contract code from user-provided parameters and templates. The automated code generation ensures programming precision through validated templates and syntax checking, while simultaneously making creation easy for users without technical expertise. The system serves itself by handling code compilation, deployment, and version management without manual intervention.
3Reliability
If smart contracts are deployed on blockchain, then security and transparency are improved, but adaptability and ease of updates deteriorate
Solution Approach 1:
The patent implements dynamic version management for smart contracts, allowing the contract logic to be updated while maintaining the same contract address on the blockchain. The system manages multiple versions of contract code and enables seamless switching between versions based on predefined conditions or administrative decisions. This dynamic approach maintains security through blockchain immutability while providing adaptability through version updates.
4Reliability
If smart contracts use immutable code, then reliability is improved, but ease of repair and updates deteriorate
Solution Approach 1:
The system performs preliminary actions by pre-compiling and validating multiple versions of smart contract code before deployment. Error detection and correction are performed in advance during the code generation and validation phases, rather than during execution. This allows the system to maintain immutable deployed contracts while having prepared updated versions ready for deployment, effectively enabling repair and updates through pre-validation of new code versions.
Data Source
AI summary
A computer-implemented user-friendly system and method of designing and managing smart contracts on a distributed ledger (blockchain). The system creates a number of computer programs that correspond to a business user's model of the contract terms. In this manner, the business user can generate the smart contract without needing to understand programming or involve third parties like developers.