Intelligent Contracts Broadening the Boundaries of Corporate Collaboration

Richard Holden, a professor in Economics of the University of New South Wales and experts in contract theory, gave a speech on the theme of “intelligent contracts broadening the boundaries of corporate collaboration.” Current business contracts are incomplete and do not cover all economic activities. The risks of being tied up devalue transactions. Blockchain and other new technologies allow for more complete and intelligent contracts, as everything is explicitly stipulated from the very beginning and thus eases mistrust. Anonymity also guarantees objective arbitration when there are disputes. Businesses previously had to be handled within are now feasible to externalities through market-oriented cooperation, which breaks the boundaries of companies and make market-based transactions more attractive than asset ownership.

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