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What is Temper-Proof Transparent Technology

Chapter 11
Innovative and Agile Contracting for Digital Transformation and Industry 4.0
An associated concept with “tamper-proof” enforcement, which means that the smart contract cannot be stopped or modified. Such contract continues to operate irrespective of external events until its pre-set expiration date. It concerns performance and other contractual decisions.
Published in Chapter:
Using Blockchain for Smart Contracts
Sara Jeza Alotaibi (Institute of Public Administration, Saudi Arabia)
Copyright: © 2021 |Pages: 14
DOI: 10.4018/978-1-7998-4501-0.ch011
Abstract
Today's era of globalization and digital transformation has produced many modern technologies that have influenced modern societies, blockchain being one. This chapter will set out definitions and criteria related to what blockchain is, its advantages and limitations, and its relation to the modern techniques used in the conclusion of smart contracts; and the impact of this technology on fighting administrative and financial corruption. Within this chapter, the central focus is on a new form of contracts founded as a result of the challenge of aligning the current system of the contract with the application of blockchain technology (i.e., to replace the idea of credit intermediation in dealing [notary, bank, management] with another thought based on a peer-to-peer system to increase contractual security and to establish the principle of self-implementation of the contract without the need to mediate with others).
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