[s3m4j]

>Let's not even talk about the long process of enforcing those contracts manually with very expensive lawyers in a physical court building.

You'll still need them at the end of the day though ? Code running in a computer somewhere doesn't rule the physical social very animal side of things.

Laws and lawyers are fuzzy constructs because humans are fuzzy creatures to start with, and imo we need that flexibility in laws and in their application, hence why I don't trust the "code is law" catch phrase.

[askmike]

I'm not saying it applies to everything. I'm not talking about you getting into a fight with your neighbor and the blockchain will help you settle things. But when two financial companies (for example) enter in some kind of contract the majority of the work involved can be automated on a blockchain as soon as there is one they both trust. source: I've worked for banks trying to do specifically this.