Verifiable Smart Contract
noun
/,veɪ.rɪ'faɪ.ə.bəl smaʊt 'kɑn.trækt/
/,veɪ.rɪ'faɪ.ə.bəl smaʊt 'kɑn.trækt/
Definition:
1. A smart contract that includes
vLEI-derived cryptographically verifiable information about the legal
entity(ies) responsible for its creation or issuance, and audit
thereof where relevant, enabling automated regulatory compliance,
enhanced fraud prevention, and compromise recovery and prevention
mechanisms.
Usage:
"Regulated institutions are increasingly requiring verifiable smart
contracts to meet legal and compliance standards."
First Use:
Coined in "vLEI on-chain: Verifiable Smart Contracts (2025)" by the
Global Legal Entity Identifier Foundation (GLEIF),
Key State Capital, and the
Cardano Foundation
to describe a new class of identity-bound, compliance-ready, secure
smart contracts.