I know its _now_ fashionable to dunk on crypto, but I really wish the whole "smart contracts" thing would be seen for what it is; neither smart nor a contract.
Contracts only work because there is a higher power to appeal to when something goes wrong. (the law courts) That means that when someone does something wrong, the other side can attempt to get justice.
If a smart contract is wrong, you're fucked. Not only do you have to speak lawyer, you also have to understand obfuscated code. Which means getting it right is expensive as the combined skills are exceptionally rare.
I get the aspiration, but its at best misguided.
The common refrain is that actual contracts are not scaleable, and can't be done in real time. This isn't true. HFTs are basically creating millions of contracts a day. When you buy something from amazon, thats a contract. When you use your credit card, thats a contract as well.
Law needs to be reformed, dont get me wrong, but the blockchain aint the thing to do it.
It's worth calling out specifically because it will not likely last very long in its current state; large, intuitional actors will either jump on it, or it will die an unceremonious death, gobbling up billions of dollars in its wake.