The “computable contract” is a standard that many in the legal community have aspired to over the last few years. Researchers at Stanford’s CodeX and Singapore-based Legalese are both also attempting to create standards and prototypes of code-enabled contract work. Still, many of the technology functions that lawyers’ would prefer in a computable contract remain out of reach.
UK-based dynamic contract startup Clause is now in the process of demoing its “data-driven contracts,” and the company is promising its solution will integrate live data directly into the binding text of a contract. Clause’s data-driven contract is clearly a step towards a functioning, enforceable computable contract, but it’s not yet a be-all end-all solution.
