An agreement protocol
Good to know: "The Ricardian contract, as invented by Ian Grigg in 1996, is a method of recording a document as contract at law, and linking it securely to other systems, such as accounting, for the contract as an issuance of value."
Sometimes explained as : "an agreement whose execution is both automatable and enforceable."
The agreement protocol is a Ricardian Contract implementation based on Semantic Contracts that are rendered as websites and uploaded to Ipfs by Issuers. These interactive contracts can be shared with Parties who may sign them with their Ethereum Wallet.
These contracts can be just simple agreements or legally binding service contracts, depending on the semantics.
Semantic Contracts can be tightly coupled to smart contracts using Ricardian Fabric, blurring the lines between traditional legal agreements and modern smart contracts. The acceptance of the semantic contract is connected to the signer wallet address which allows self fulfilling smart contracts to take action and execute the part of the agreement that is written in code and depends on accepting the semantics.
Last modified 1yr ago