  The blockchain constitutes a technology-based, rather than social or
regulation based, means to lower uncertainty about one another in order to
exchange value. However, its use may very well also lead to increased
complexity resulting from having to subsume work that displaced intermediary
institutions had performed. We present our perspective that smart contracts may
be used to mitigate this increased complexity. We further posit that smart
contracts can be delineated according to complexity: Smart contracts that can
be verified objectively without much uncertainty belong in an
inter-organizational context; those that cannot be objectively verified belong
in an intra-organizational context. We state that smart contracts that
implement a formal (e.g. mathematical or simulation) model are especially
beneficial for both contexts: They can be used to express and enforce
inter-organizational agreements, and their basis in a common formalism may
ensure effective evaluation and comparison between different
intra-organizational contracts. Finally, we present a case study of our
perspective by describing Intellichain, which implements formal, agent-based
simulation model as a smart contract to provide epidemiological decision
support.
