Contracts Currently, contracts are drafted by lawyers, judged by courts, and enforced by the police. Smart contract cryptographic systems such as Ethereum encode contracts into a blockchain to make them self‐executing, with no possibility for appeal or reversal and beyond the reach of courts and police. “Code is law” is a motto used by smart contract programmers. The problem with this concept is that the language lawyers use to draft contracts is understood by far more people than the code language used by smart contract drafters.
