[sandworm101]

>>its been the execution and the honoring of the contract that man has not yet solved.

I think we've worked it out. Billions of contracts are executed and honoured between flesh-and-blood persons every day. 99.999999% work without issue. A few wind up in courts, but I'd still call that a very good track record.

(Yes I said billions, read up on all the various forms of contracts. Anyone reading this likely enters into and honours a dozen contracts in a typical day.)

[internaut]

> Billions of contracts are executed and honoured between flesh-and-blood persons every day. 99.999999% work without issue.

It's a great point about volume. However a huge number of legal cases + contracts never get started in the first place because of cost. So those would be absent from your success rate.

To put it bluntly there is no point in writing a contract for a $200 dollar job. Countless little guys get screwed over every day because of this. Ultimately they work by handshake deals or through family businesses because working with larger corps is a headache. My father for example had to pay 200 euros for a large firm he worked for to process some paperwork they also invented. That is; a firm that he works for, he has to pay them money, in order to be hired by them in the future. This is probably illegal but this is what happens when you can't risk finding out whether this is a breach of contract. That seems like a failure to me.

That's where I see digital contracts making a real difference. Making the legal system comprehensible and inexpensive for the working poor.

[sandworm101]

>> ... there is no point in writing a contract for a $200 dollar job.

You don't need to "write" a contract for a contract to be in place. Contracts can exist between people who are illiterate, even those who cannot express themselves. A contract is a state-sanctioned and enforced relationship. The document is just one form of evidence useful in defining that relationship.

[cyphar]

There are more types of contracts than written contracts. Even handshake deals can be considered contracts (though you'd need evidence that the agreement happened as well as evidence that all of the other conditions for enforceable contracts apply). Paper contracts exist so that there is a very clear statement of intent, but that's just one kind of contract.