Comment by godelski

This is a thing that confused me about smart contracts. I don't see how they can exist without a judicial system. They do seem to have some uses under that framework. Like the system is auditable so you can prove if someone cheated and changed a contract out from under you (and you lost your copy), but that's only a minor improvement on the current system. The US has a lot of legal policy that is based on spirit of the law because it is well recognized that humans are imperfect and never will be. It then seems silly that people who are fully aware of failure analysis/engineering would design a system where the mode of failure is easily exploitable.