Breach of Smart Contracts
Breaches in online contracts (Service Level Agreements, SLAs) are usually compensated by gift vouchers at present, however as the online contracts emerge towards smart contracts, the breaches could potentially lead to court injunctions over blockchains.
The Parallel Computing and Optimisation Group proposes Probability based Factor Model (PFM) that can be implemented over the blockchain to automatically identify breaches that can cause substantial damage and have high probability for recurrence. PFM can also issue court injunctions for the breaches. The underlying concept in PFM is built upon the notion of unsupervised machine learning and stochastic modeling from the discipline of Data Science.
High performance computing (HPC) cluster at University of Luxembourg (HPC@Uni.lu) and docker were used to emulate contractual environment of three service providers: Redis, MongoDB, and Memcached Servers. The results showed that court injunction(s) was issued only for Redis and MongoDB Servers. Technically, this difference could be attributed to the fact that Memcached is simply used for caching and therefore, it is less prone to breach of contract. Whereas, Redis and MongoDB as databases and message brokers are performing more complex operations and are more likely to cause a breach.
The aim is to benefit enterprises that view breach of contract as a limiting factor for implementation of smart contract in cyber-physical system or Internet of Things.