As organizations begin executing automated "smart contracts" on blockchains, the definition of what constitutes a record is fundamentally changing.
Records professionals must ensure these self-executing codes are captured and preserved alongside their human-readable counterparts.
- Does your current RIM policy define whether a smart contract is an official business record?
- How would you place a legal hold on a decentralized, automated transaction?
Action Item: Add "smart contracts" to the definitions section of your official records policy.