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Yes. But, as elaborated elsewhere in this thread, the reputable dispute arbitrator does not have to be a government agent. In countries where government agents are installed through corruption and paid in bribes, handing the 3rd vote on who gets the Bitcoin to someone based on reputation rather than appointment is a great boon.

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Ah yes. The tired old "3rd world countries".

Even in 3rd world countries you will need someone to understand programming and contracts to verify that the smart contract actually implements what you've agreed on.

So you're replacing "government agents installed through corruption" with "saints beyond reproach because smart contracts"?

" In countries where government agents are installed through corruption and paid in bribes"

And somehow this won't also end up artificially boosting the "reputation" of potential arbitrators?

(Or perhaps the government will make it clear that anyone who acts as an arbitrator without government authorization will spend a long time in a small cell.)

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