They are digital documents that define the terms and conditions among those involved in the contract, these are signed and verified cryptographically and are readable by both humans and computer systems.
- Human and software readable.
- It can be printed.
- All forms of documents (physical, virtual, encrypted) are equivalent.
- They are signed by all parties.
- They can be identified safely thanks to the has of each contract.
Blockchains operate under smart contracts, however, work is underway to include Ricardian contracts in the transactions of these networks. One of the main objectives is to convert the complexity of the code observed within Blockchain technology into a simpler language so that anyone could understand it.
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