The present document specifies the functional components of Smart Contracts, their planning, coding and testing. This includes: a) reference architecture of the technology enabling Smart Contracts - the planning, designing and programming frameworks, b) specify how to engage using this architecture - the methods and frameworks the Smart Contracts building blocks possibly communicate, c) point out possible threats and limitations. Note: This document will consider requirements that may in the future be applied to Smart Legal Contracts which are legally binding Smart Contracts agreed by two or more parties in line with applicable contract law such as Regulation (EC) No 593/2008 of the European Parliament and of the Council of 17 June 2008 on the law applicable to contractual obligations (Rome I).