System and method for blockchain-based network transitioned by a legal contract
A system and method for transitioning a distributed ledger network according to a legal contract that includes: establishing a contract, which comprises generating a set of programmable clauses for the contract by implementing a templating system comprised of a template model that contains the logic of each programmable clause of the set of programmable clauses; operating a distributed ledger network between participants, wherein the distributed ledger network is configured with an application model that maps to the template model; updating the contract state; updating the distributed ledger network according to the application model; in response to at least one update to the contract state, recording an update to the distributed ledger network; and in response to at least one contract-associated update in the distributed ledger network, initiating execution of at least one programmable clause of the contract and recording a subsequent update to the distributed ledger network.
1. A method comprising:
updating a state of an electronic document, the electronic document comprising a programmable clause implemented using a template model defining input data to execute the programmable clause and defining data output by the programmable clause, wherein the template model is mapped to an application model recorded in a blockchain network;
in response to updating the state of the electronic document, recording a first update to the blockchain network using the application model;
in response to recording the first update to the blockchain network:
determining, based on the input data defined by the template model, a value for the input data; and
invoking execution logic of the template model, wherein the execution logic of the template model is configured to, in response to the invoking, generate a second update based on the determined value of the input data; and
recording the second update in the blockchain network.
2. The method of claim 1 , wherein updating the state of the electronic document comprises determining a change for a value for a variable of the electronic document.
3. The method of claim 2 , wherein determining the change for the value comprises polling data.
4. The method of claim 2 , wherein determining the change for the value comprises accessing data in response to an event.
5. The method of claim 2 , wherein determining the change for the value comprises receiving a data update from a network-connected device.
6. The method of claim 1 , wherein the execution logic of the template model is configured to generate the second update based on the determined value of the input data and further based on one or more of an external action or an internal integration.
7. The method of claim 6 , wherein the programmable clause is a first programmable clause, wherein the electronic document comprises a second programmable clause, and wherein the internal integration comprises a call from the first programmable clause to the second programmable clause.
8. The method of claim 6 , wherein the external action comprises calling an application programming interface, pushing an object to the blockchain network, or calling an on-chain script.
9. The method of claim 1 , further comprising:
creating an application programming interface endpoint of the programmable clause; and
receiving, at the application programming interface endpoint of the programmable clause, a callback request from at least one application model object in the blockchain network.
10. A system comprising one or more processors having access to memory, the one or more processors configured to:
update a state of an electronic document, the electronic document comprising a programmable clause implemented using a template model defining input data to execute the programmable clause and defining data output by the programmable clause, wherein the template model is mapped to an application model recorded in a blockchain network;
in response to updating the state of the electronic document, record a first update to the blockchain network using the application model;
in response to recording the first update to the blockchain network:
determine, based on the input data defined by the template model, a value for the input data; and
invoke execution logic of the template model, wherein the execution logic of the template model is configured to, in response to the invoking, generate a second update based on the determined value of the input data; and
record the second update in the blockchain network.
11. The system of claim 10 , wherein to update the state of the electronic document, the one or more processors are configured to determine a change for a value for a variable of the electronic document.
12. The system of claim 11 , wherein to determine the change for the value, the one or more processors are configured to poll data.
13. The system of claim 11 , wherein to determine the change for the value, the one or more processors are configured to access data in response to an event.
14. The system of claim 11 , wherein to determine the change for the value, the one or more processors are configured to receive a data update from a network-connected device.
15. The system of claim 10 , wherein the execution logic of the template model is configured to generate the second update based on the determined value of the input data and further based on one or more of an external action or an internal integration.
16. The system of claim 15 , wherein the programmable clause is a first programmable clause, wherein the electronic document comprises a second programmable clause, and wherein the internal integration comprises a call from the first programmable clause to the second programmable clause.
17. The system of claim 15 , wherein the external action comprises calling an application programming interface, pushing an object to the blockchain network, or calling an on-chain script.
18. The system of claim 10 , wherein the one or more processors are further configured to:
create an application programming interface endpoint of the programmable clause; and
receive, at the application programming interface endpoint of the programmable clause, a callback request from at least one application model object in the blockchain network.
19. Non-transitory computer-readable storage media storing executable instructions that, when executed by one or more processors, cause the one or more processors to:
update a state of an electronic document, the electronic document comprising a programmable clause implemented using a template model defining input data to execute the programmable clause and defining data output by the programmable clause, wherein the template model is mapped to an application model recorded in a blockchain network;
in response to updating the state of the electronic document, record a first update to the blockchain network using the application model;
in response to recording the first update to the blockchain network:
determine, based on the input data defined by the template model, a value for the input data; and
invoke execution logic of the template model, wherein the execution logic of the template model is configured to, in response to the invoking, generate a second update based on the determined value of the input data; and
record the second update in the blockchain network.
20. The non-transitory computer-readable storage media of claim 19 , wherein to update the state of the electronic document, the instructions cause the one or more processors to determine a change for a value for a variable of the electronic document.