RATE Group | Bringing Ethereum Smart Contracts to the Mainstream
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Bringing Ethereum Smart Contracts to the Mainstream

19 Oct Bringing Ethereum Smart Contracts to the Mainstream

Posted at 01:29h in Ethereum News by

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Media conglomerate Thomson Reuters, one of Canada’s leading brands, is eyeing an opportunity to bring the possibilities of Ethereum smart contracts into the mainstream.

The effort comes as part of a partnership with OpenLaw, the ConsenSys-backed builders of an open source and peer-to-peer protocol for automating legal agreements.

Revealed on October 17th, the first fruit of the partnership is a proof of concept (PoC) system dubbed Smart Contract Express, which melds Thomson Reuters’s document automation service Contract Express with smart contract functionalities using Ethereum and decentralized oracle project Chainlink.

Thomson Reuters

The OLE Stack

The PoC allows for users to take a Practical Law Company contract template and run it through Contract Express, at which point the most important data from the contract — like dates and payment obligations — can be permanently hashed onto Ethereum.

Accordingly, the point of the PoC system is not to dump the entirety of a traditional legal contract…

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