Smart Contract Templates

Lee Braine, Investment Bank CTO Office, Barclays

Presentation to CoinDesk
25 April 2016
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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
Contract
Templates
Smart Contracts
Blockchain /
Shared Ledgers

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Our Focus

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
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
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Smart Contract Templates
Will take time to build, but potential benefits are enormous
Further collaboration is required – needs industry behind it

Smart Contract Templates summit in June
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Related Interests