The Tezos Foundation is pleased to announce that it will issue a grant to Clause Inc. to develop a smart legal contract layer on top of the Tezos blockchain.
Clause is a US-based startup that enables its users to negotiate, execute, and monitor the performance of smart legal contracts that connect to web services, enterprise software, and blockchain systems using its platform. Clause uses technology developed by the Accord Project, an open-source software initiative it established composed of 40+ leading law firms, IBM, R3, and others that are building tools for legally enforceable smart contracts in an effort to institute common specifications.
With this grant, the Clause team will develop an Ergo to Michelson compiler to enable a smart legal contract layer on Tezos. Ergo is a domain-specific language that captures the execution logic of legal contracts, and Michelson is a language used to write smart contracts on Tezos. Such technology will enable Tezos to support commercial transactions and practices that are legally enforceable. Jerome Simeon, Chief Scientist at Clause, stated: “We are very excited to be developing a legal layer for Tezos. Compiling Ergo to Michelson will allow users to transparently and safely deploy legal contracts from Clause onto the Tezos blockchain.”
The Tezos Foundation’s core mission is to support the long-term success of the Tezos protocol and ecosystem. By funding projects imagined by scientists, researchers, developers, entrepreneurs, and enthusiasts, the Foundation encourages decentralized development and robust participation. Projects in need of immediate consideration for a grant from the Foundation are invited to submit grant proposals and contribute to Tezos.