Nicolas Gomez del Campo
MIT EECS | Hudson River Trading Undergraduate Research and Innovation Scholar
Automating Financial Agreements on the Ethereum Blockchain
- Computer Systems
Smart contracts are self-executing contracts that have the terms of the contract between buyer and seller, written into lines of code. They represent business deals and financial transactions on a blockchain, eliminating the vast paperwork and oversight needed to maintain contracts. This leads to reduced risk, lower administration and service costs, and more efficient business processes.
These smart contracts can be used to represent contracts such as a forward contract on an OTC commodity market, a B2B loan, and an employee pension plan. The problem that remains is how to convert legal contracts into digital smart contracts and enable their verification and adjudication. My project aims to address this gap and develop a way to convert financial legal contracts into smart contracts.
“Smart contracts will revolutionize the way people do business. SuperUROP is an amazing opportunity for me to gain a working knowledge with this technology and position myself to make an impact in the world of fin-tech. I am excited to use the skills I have learned in my coursework and to learn how to write a research paper.”