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.
See also:
legal entity identifier, provenance, decentralized identity, KERI,
vLEI
