Languages for Smart and Computable Contracts

Abstract: Smart Contracts use computer technology to automate the performance of aspects of commercial agreements. Yet how can there be confidence that the computer code is faithful to the intentions of the parties? To understand the depth and subtlety of this question requires an exploration of natural and computer languages, of the semantics of expressions in those languages, and of the gap that exists between the disciplines of law and computer science. Here we provide a perspective on some of the key issues, explore some current research directions, and explain the importance of language design in the development of reliable Smart Contracts, including the specific methodology of Computable Contracts.