Smart Contract ‘Drafting’ and the Homogenization of Languages

Abstract

Language has always been a critical and fundamental aspect in traditional contract crafting. However, with the advent of smart contracts, where contracts are coded in a programming language and for automated execution, the growth and use of smart contracts may lead towards the homogenization of languages: not just in the form of natural language as programming languages are in the English language, but also in the standardization of the programming language used for smart contracts. This chapter thus aims to discuss how the drafting and use of smart contracts may eventually lead to the homogenization of natural languages and the choice of programming language in contract drafting. It will also raise the issues of such homogenization, such as the potential erosion of non-English or less often used languages, the loss of the monopoly for lawyers as their language expertise becomes less important and how the homogenization of languages can affect technological developments in the use of artificial intelligence in contract drafting.