A language to specify digital contracts
CSL (Contract Specification Language) is a computer language to specify and control the execution of legal contracts.
How it works
Digital contracts, written in CSL, are a passive and mathematically verifiable protocol to validate mutually agreed business actions between partners.
Deon Digital technology enables the interaction of backend systems with the peers of a distributed ledger network via Nodes. The peers form a business network which guarantees a consistent view of the current obligations across all parties.
Peers participate in a business network and gain shared control over data. A governance/KYC process may be implemented for the participants in order to satisfy potential regulatory requirements and/or to assure that the parties of a digital contract can trust each other.
In business networks formed by peers of a permissioned distributed ledger, confidentiality regarding the state of the digital contracts, as well as the real-world identities can be achieved through a selective distribution of data and the use of public-key cryptography.
Parties cannot falsify a contract.
Calculate the future obligations, rights, and processes.
The Distributed Ledger Technology ensures that only contract parties have access to data.
During the past few years many different solutions have been proposed for what’s commonly referred to as Smart Contracts Technologies. At the base of each proposition there is a language. Deon Digital’s proposition is based on CSL (Contract Specification Language), but what are its main characteristics and how does it compare to the other available proposition on the market? Find below our landscape analysis.