Trusted advanced computing
The integration of all the concepts, namely, the blockchain, decentralised consensus and smart contracts, enables the spreading of the resources and transactions laterally, in a flat, peer to peer manner, and in doing that, they are enabling computers to trust one another at a deep level.
If institutions and central organizations are necessary nowadays as trusted authorities, in the future, a certain number of their central functions can be codified via smart contracts that are governed by decentralised consensus on a blockchain.
Namely, due to the blockchain’s role as the unequivocal validator of transactions, each peer can proceed and trust one another, because the rules of trust, compliance, authority, governance, contracts, law, and agreements live on top of the technology.
If you fast forward to a not-too-distant future, smart contracts and smart property will be created, dispensed or executed routinely between consenting parties, without either of them even knowing that blockchain technology was the trusted intermediary. “Trusted computing” on the Web seems to be a key tenet of the new crypto-driven paradigm.