Distributed Intelligent Contract Enforcement System (DICES)
Read time: 8 minutes
Existing contract management systems have streamlined the contract creation and execution process, but contract enforcement remains an area of concern. Blockchain technology and its smart contracts inherently enable enforcement by providing means for rule-based peer-to-peer economic interactions while maintaining complete transparency. However, the current legal ecosystem will ﬁnd it challenging to adopt blockchain and smart contracts due to the technical expertise required.
To make the adoption easier, we are proposing a solution that uses Natural Language Processing (NLP) along with a mapping engine to create and deploy smart contracts directly from plain text contracts, without the need for in-depth knowledge of blockchain and smart contract languages. We propose to use NLP and blockchain technology to automate the enforcement of legal contracts in this Distributed Intelligent Contract Enforcement System (DICES)
Read the whitepaper to know more!