The above creates efficiency in electronic transactions by providing a standard format. It also disobviates the need for a lawyer in every transaction.
Lawyers don't understand money or finance, however, draw up the contracts that define the interactions. Reading through the legalese is difficult due to lack of a standard format: Promise Language solves that.
Sometimes lawyers create a contract that finance people call a "derivative". The contract is unnecessary and creates confusion that loses responsibility and accountability. This is due to the lawyer's non-understanding of money and finance.