How Can Smart Contracts Be Designed to Comply with Evolving Multi-Jurisdictional Regulations?
Designing compliant smart contracts requires a modular and upgradeable architecture. This allows legal and regulatory logic to be updated without redeploying the entire contract.
Integrating oracles that provide regulatory information as a data feed can help the contract adapt to changes in real-time. Another approach is to use permissioned blockchains where participants are known and subject to specific legal agreements.
Furthermore, embedding legal prose alongside the code, using standards like the Ricardian Contract, can provide clarity for legal interpretation across jurisdictions.