Sentences with phrase «computable contract language»
Computable contract language becomes more valuable to the legal sector, once we start using «smart contracts» that are self - executing.
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Allows any system or programming language to compute anything that is computable (given sufficient resources), allowing for the deployment of smart contracts and decentralized applications.
Stephen Wolfram, the founder of Wolfram Alpha, believes contracts should be computable, and that a hybrid code / legalese language should be developed.
However, that doesn't stop the idea of «computable contracts» and the development of a hybrid code / legalese language being developed, nor it becoming a very important part of the legal ecosystem.