ABSTRACT
This chapter focuses on smart contract-driven business transactions and processes. Business processes that span organization boundaries pose a number of significant business and system level challenges. Once the legal contracts between the trading partners are established, those should be monitored, enforced, and managed. The contracts generally express the rights and obligations of the contract parties to each other, and also outlines the guidelines for handling contract violations, and the conditions of commencement, continuation, and termination of the contract. The choreography model can be used to execute the process, where the deployed smart contracts act as the trusted coordinator. Multiple business partners bound by legal contracts collaborate to realize these business processes, forming a business network. Business collaborations among untrusted parties require incorporating transparency and accountability into the relevant business processes. The supply chain business processes are often carried out as a set of multi-step business transactions.
