Blockchain is much touted to be the next coolest idea happening right now: https://www.weforum.org/agenda/2016/06/the-blockchain The idea seems to be lower transaction (e.g. contracting) costs. Which are huge. (Between 5-10% of total project cost according to a world bank estimate.) So blockchain's use for multilateral contracts is a radical innovation. A corollary is, firms (e.g. corporations, but also nonprofits) are no longer needed. Put simply, an economic firm is a mechanism to minimize transaction costs. You could say "the extent of firm is determined by the level of transaction costs" and it would be an apt summary. http://www.economist.com/node/17730360 Also see http://www.sjsu.edu/faculty/watkins/coase.htm among others. OTOH, remember bitcoin? https://en.m.wikipedia.org/wiki/Bitcoin Thoughts?