Global Digital Finance – The Smart Contract Primer: An Initial Overview

This primer provides an introductory overview of smart contracts within financial services, including implementation and regulatory risk management. Developed by Global Digital Finance (GDF) and the Global Financial Markets Association (GFMA), the report details how smart contracts are being used across financial industries, with a focus on integrating these technologies into current frameworks. The primer outlines eight best practices, including strong access controls, incident response protocols, and comprehensive testing before deployment. Recommendations emphasize regulatory clarity and encourage the adoption of standardized templates to foster interoperability and secure deployment, avoiding the need for new regulatory regimes.