Smart Legal Contract
A legally binding agreement where natural language clauses are paired with executable code that automatically enforces the terms.
A standard smart contract is just code; it often lacks legal standing in a court of law. TUC utilizes "Ricardian Contracts" or Smart Legal Contracts, where the code acts as the automated administrator of a document signed effectively by the parties. If a shipment is late, the code reads the Oracle data and automatically executes the penalty clause defined in the legal text. This merges the efficiency of software with the enforceability of law, reducing legal overhead and dispute resolution times by orders of magnitude.
Related Concepts
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DePIN
Decentralized Physical Infrastructure Networks—protocols that incentivize the rollout of real-world hardware (sensors, solar panels, wifi) using cryptographic tokens.
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Zero-Knowledge Rollup
A Layer 2 scaling solution that bundles hundreds of transactions off-chain and generates a cryptographic proof of validity.
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Account Abstraction
ERC-4337 standard that upgrades simple wallets into smart contract wallets with programmable logic.