2018-7-30 19:07 |
The Dubai International Financial Centre Courts and Smart Dubai have partnered on a “Court of the Blockchain” initiative that includes refining smart contracts for the legal system
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The new platform, called the “Ethereum time machine,” extends Ethereum’s programming capabilities by allowing smart contracts to execute transactions based on uncertain or not-guaranteed future events.
The contracts will exist on a sidechain built on XRPL, developers said in a Tuesday post.
The "Protocol 20" upgrade, which adds support for Ethereum-style smart contracts to the decade-old payments-focused blockchain, had been delayed by three weeks due to precautions after a bug was found.
In the aftermath of Fantom’s $550,000 hack in October, a security researcher found that the attacker could have stolen as much as $170 million.
The service industry needs blockchain for enhanced security, transparency and efficiency in managing transactions, contracts and customer data.
The European Parliament said on Nov. 9 that it has voted in favor of a Data Act that will set out rules in various areas, including smart contract development. The current announcement says that the act has been adopted with 481 votes in favor and 31 votes against, with 71 abstaining votes.