You can build arbitration into contracts right now, and they're largely enforceable. Bitcoin just reduces the enforcement cost. The challenge for arbitration, p

You can build arbitration into contracts right now, and they're largely enforceable. Bitcoin just reduces the enforcement cost. The challenge for arbitration, programmatic or otherwise, is deciding who the arbitrator will be. One of the problems is that arbitrators have their own perverse incentive to decide things in the favor of "repeat players" rather than on a truly objective basis.