Smart Contracts as BlockChains Killer App?

Still quit a bit to achieve to make smart contracts clear and understandable.  Smart contracts can be embodied in any code, but code can be prone to error depending on context.   Note point on the 'intent of the code'.   The regulators are at work to make sure the frameworks will be there.  Good piece below, good links to specific legal detail.   With an emphasis on Supply Chain. 

Smart Contracts: Has Blockchain's Killer App Finally Become a Reality?
By Marisa Brown (see all posts) on  Posted in Supply Chain Management

“As the [blockchain] technology pushes the globe towards new economic models, we will only demand more from smart contracts,” Forbes, July 2018.

From the American Bar Association this September: “In the future, litigation attorneys may no longer be litigating the ‘four-corners’ of the contract, but rather expanding into the intent of the code.”

Smart contracts. We’ve been hearing a lot of hype about them in the media, but are they a business reality yet? Back in 2014, Fast Company called smart contracts “cryptocurrency's killer app.” At that time, it was all about the promise and potential of blockchain and smart contracts. The digital world was coming. And that has not changed: in APQC's 2018 supply chain management priorities and challenges research, respondents rated digitalization as the number one impact on the supply chain in the next three years.  ... "

" ... One common point of murkiness and misconception around smart contracts is that they will replace regular contracts completely. However, this is not the case. Smart contracts are subject to established contract law, and according to a March 2018 publication by Perkins Coie partner, Dax Hansen, will never replace natural-language law—even though they offer increased clarity, auditability, predictability, and ease of enforcement. With so many benefits of smart contracts, several states, including Arizona, California, Florida, Nebraska, Nevada, and New York, are working to hammer out legal frameworks for dealing with the new technology and to make it clear that these new techno-contracts can indeed have legal impact.  ... "