The almost unlimited potential of smart contract use cases in real world appears to be limited in practice to those related to the ecosystem. This article shows problems blocking such expansion that are fundamentally difficult for any smart contract party to solve on its own, but can be solved with the correct standardization.
The problems addressed here are: software bugs together with unfamiliarity towards limitations as business’ concern and high decision making and mental transaction costs as customers’, while both carry high bargaining costs.
What the Verifiable Standardized Smart Contracts aims to achieve is to improve more use case viability through standardized contracts that should be certified with as little trust as possible, providing a better solution for both commercial and technical aspects.
Verifiable Standardized Smart Contracts.pdf (136.9 KB)
Also, the paper wasn’t academic-founded so I’m asking, if possible, for peer-review.