A Contract Service Provider Model for Virtual Assets

Abstract

With the recent rise in the cost of transactions on blockchain platforms, there is a need to explore other service models that may provide a more predictable cost to customers and end-users. We discuss the Contract Service Provider (CSP) model as a counterpart of the successful Internet Service Provider (ISP) model. Similar to the ISP business model based on peered routing-networks, the CSP business model is based on multiple CSP entities forming a CSP Community or group offering a contract service for specific types of virtual assets. We discuss the contract domain construct which encapsulates well-defined smart contract primitives, policies and contract-ledger. We offer a number of design principles borrowed from the design principles of the Internet architecture.