Late commenting here, but smart contracts haven't been mentioned and they are better than existing contracts because they enforce themselves. Here's an article

Late commenting here, but smart contracts haven't been mentioned and they are better than existing contracts because they enforce themselves. Here's an article that explains well and also links to Szabo's original. http://bitcoinmagazine.com/10468/daos-scary-part-1-self-enforcing-contracts-factum-law/ http://bitcoinmagazine.com/10468/daos-scary-part-1-self-enfo...