Smart Contract Templates

Presentation to CoinDesk 25 April 2016

Lee Braine, Investment Bank CTO Office, Barclays

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Introduction

Smart legal agreements

Potential benefits

large cost reductions

efficiency improvements

risk reduction

Barclays internal team

Smart Contract Templates prototype

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Industry Challenge

Extremely complex challenge

Every bank maintains its own separate ledgers

Huge duplication of effort and cost

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Potential Solution

Smart Contracts

Blockchain / Shared Ledgers

Smart Contract

Templates

Our Focus

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Smart Contract Templates

Connect legal text to business logic

Simplify legal documentation processes

Drive standards adoption via reusable templates

Mutualise costs via common components

Paradigm shift – billions of pages of legal agreements

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Demonstration

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Prototype of investment banking application

Shows lifecycle of interest rate swap

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Collaboration and Open Innovation

Barclays Investment Bank

R3

University College London’s Centre for Blockchain Technologies

ISDA - International Swaps and Derivatives Association

Société Générale

Techstars

Smart Contract Templates

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Will take time to build, but potential benefits are enormous

Further collaboration is required – needs industry behind it

Smart Contract Templates summit in June