Gap Analysis for Smart Contract Standardisation

Abstract

Although smart contracts have emerged as a key innovation for industries, siloed development and deployment of smart contracts pose numerous challenges to mass adoption and interoperability. This paper presents a comprehensive gap analysis of cur- rent standardisation efforts in smart contracts, focusing on common requirements, data formats, schema, and software templates. Through an examination of existing standards, best practices, and identified gaps, this paper proposes contributions to address these challenges. By advocating for cross-platform compatibility, scalability, and maintainability, it aims to advance the standardisation of smart contracts and foster their broader adoption in the industry.