R3 claims progress on smart contracts standards

DLT consortium under pressure to show cohesion after JP Morgan departure

electronic standards
Search for clarity: consensus reached on need for industry standards around smart contracts

Distributed ledger consortium R3 claims its members have reached consensus on the need for industry standards to simplify the implementation of smart contracts – automated, tamper-proof agreements that some see as a source of future cost savings.

The huge alliance, which comprises more than 80 banks, buy-side firms, clearing houses, exchanges, central banks and others is under pressure to show the coalition can work, after the recent, high-profile departure of JP Morgan in April. It followed in

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