Abstract
The fast pace in blockchain development introduced the concept of Smart Contract as a way to deploy digital contracts as pieces of code on the blockchain network. Smart contracts differ from the traditional ones in many aspects related to their automated execution. Still, there are many open issues, such as legal frameworks and regulatory aspects. The study of agreement technologies and agent-based market systems have already dealt with some of these issues and can help us discuss solutions for the future. In this paper, we present an overview of the agreement pipeline, considering regulation-enabled systems and compare the implementation of auction agreements purely on the blockchain with a hybrid approach where markets are active agents that can ensure regulation outside the contractual phase and contract execution runs on blockchain. We have compared the cost of failing negotiations, that is always charged in the blockchain case.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
Similar to the fat client and fat jar concepts used in software engineering.
- 2.
- 3.
References
Calvaresi, D., Dubovitskaya, A., Calbimonte, J.P., Taveter, K., Schumacher, M.: Multi-agent systems and blockchain: results from a systematic literature review. In: Demazeau, Y., An, B., Bajo, J., Fernández-Caballero, A. (eds.) PAAMS 2018. LNCS (LNAI), vol. 10978, pp. 110–126. Springer, Cham (2018). https://doi.org/10.1007/978-3-319-94580-4_9
Cardoso, H.L.: Virtual organization support through electronic institutions and normative multi-agent systems. In: Handbook of Research on Nature-Inspired Computing for Economics and Management, pp. 786–805. IGI Global (2007)
Lopes Cardoso, H., Oliveira, E.: A contract model for electronic institutions. In: Sichman, J.S., Padget, J., Ossowski, S., Noriega, P. (eds.) COIN -2007. LNCS (LNAI), vol. 4870, pp. 27–40. Springer, Heidelberg (2008). https://doi.org/10.1007/978-3-540-79003-7_3
Chen, T., Li, X., Luo, X., Zhang, X.: Under-optimized smart contracts devour your money. In: 2017 IEEE 24th International Conference on Software Analysis, Evolution and Reengineering (SANER), pp. 442–446. IEEE (2017)
Galal, H.S., Youssef, A.M.: Verifiable sealed-bid auction on the ethereum blockchain. In: Zohar, A., et al. (eds.) FC 2018. LNCS, vol. 10958, pp. 265–278. Springer, Heidelberg (2019). https://doi.org/10.1007/978-3-662-58820-8_18
Governatori, G., Idelberger, F., Milosevic, Z., Riveret, R., Sartor, G., Xu, X.: On legal contracts, imperative and declarative smart contracts, and blockchain systems. Artif. Intell. Law 26(4), 377–409 (2018)
Ossowski, S.: Coordination in multi-agent systems: Towards a technology of agreement. In: Bergmann, R., Lindemann, G., Kirn, S., Pěchouček, M. (eds.) MATES 2008. LNCS (LNAI), vol. 5244, pp. 2–12. Springer, Heidelberg (2008). https://doi.org/10.1007/978-3-540-87805-6_2
Porru, S., Pinna, A., Marchesi, M., Tonelli, R.: Blockchain-oriented software engineering: Challenges and new directions. In: 2017 IEEE/ACM 39th International Conference on Software Engineering Companion (ICSE-C), pp. 169–171. IEEE (2017)
Rúbio, T.R.P.M., Lopes Cardoso, H., Oliveira, E.: Agent process modelling. In: Demazeau, Y., Matson, E., Corchado, J.M., De la Prieta, F. (eds.) PAAMS 2019. LNCS (LNAI), vol. 11523, pp. 277–280. Springer, Cham (2019). https://doi.org/10.1007/978-3-030-24209-1_30
Rúbio, T.R., Kokkinogenis, Z., Cardoso, H.L., Oliveira, E., Rossetti, R.J.: ResMAS-a conceptual MAS model for resource-based integrated markets. In: Bajo J. et al. (eds.) Highlights of Practical Applications of Cyber-Physical Multi-Agent Systems. PAAMS 2017. CCIS, vol. 722, pp. 117-129. Springer, Cham (2017). https://doi.org/10.1007/978-3-319-60285-1_10
Singh, M.P., Chopra, A.K.: Violable contracts and governance for blockchain applications. arXiv preprint arXiv:1801.02672 (2018)
Sklaroff, J.M.: Smart contracts and the cost of inflexibility. U. Pa. L. Rev. 166, 263 (2017)
Skowroński, R.: The open blockchain-aided multi-agent symbiotic cyber-physical systems. Future Gener. Comput. Syst. 94, 430–443 (2019)
Szabo, N.: Formalizing and securing relationships on public networks. First Monday 2(9) (1997)
Wood, G., et al.: Ethereum: A secure decentralised generalised transaction ledger. Ethereum project yellow paper 151, 1–32 (2014)
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2019 Springer Nature Switzerland AG
About this paper
Cite this paper
Rúbio, T.R.P.M., Kokkinogenis, Z., Cardoso, H.L., Rossetti, R.J.F., Oliveira, E. (2019). Regulating Blockchain Smart Contracts with Agent-Based Markets. In: Moura Oliveira, P., Novais, P., Reis, L. (eds) Progress in Artificial Intelligence. EPIA 2019. Lecture Notes in Computer Science(), vol 11804. Springer, Cham. https://doi.org/10.1007/978-3-030-30241-2_34
Download citation
DOI: https://doi.org/10.1007/978-3-030-30241-2_34
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-30240-5
Online ISBN: 978-3-030-30241-2
eBook Packages: Computer ScienceComputer Science (R0)