The problem with smart contract is that you can not enforce it if there is a default, these kind of contract have no legal status, thus only suitable for internal use only
The blockchain only transfer ownership of a string of data, the value of these data can be given by market (In bitcoin's case it is exchanges). But a smart contract's value is decided by the value of its underlying property, not market. Because you must be able to enforce a take over of property in case of default, it requires smart contract have legal status. Currently it does not have legal status, thus it worth nothing
Hmm, thanks for info. Thinking a sidechain or new currency with more functionality. I don't understand all the technical details right now as much as I should.