I have been saying this for quite sometime on this forum - contracts have to deal with ambiguous circumstances and expressly contemplate being resolved in court

I have been saying this for quite sometime on this forum - contracts have to deal with ambiguous circumstances and expressly contemplate being resolved in courts. Ambiguity of contracts is a feature, not a bug, as it is in the interest of both parties to be able to argue about certain unanticipated events when they occur. Quoting my own comments from a while back: > The vast majority of contracts do not have syntactically testable conditions. They just don't. Whether the conditions in a contract have been met is very often a matter of huge debate - this is what "law suits" are about. Unless you can create a condition that is testable by code, you cannot have a contract that self-enforces with the block chain. The conditions set forth in contracts are extremely complex and reasonable people can differ. I cannot imagine how you would have a contract be triggered on the insolvency of a privately held corporation - good luck defining insolvency and good luck getting access to the underlying books. Copyright infringement is also a preposterous idea - the amount of semantic judgment that must be made to determine if a work is infringing is enormous. Only the very simplest of conditions - comparing numbers, checking the time, can be reliably automated, and if you are getting a lawyer to write your contracts, odds are there is substantially more complexity in the agreements than this, which is why you hired the lawyer in the first place. In addition, a fair portion of contracts that can actually be set up to work this already are - and the blockchain is not necessary. They are things like credit cards and they work pretty good without the blockchain.