I've been saying this for couple of years now: the most likely "disruption" from blockchain technology is going to be in notarial functions. The concept of coloured coins[0] allows to use a globally available, publicly verifiable, and for all intents and purposes a forgery-immune register to verify contracts.
Cutting through all the [templated] legalese, we can say: "Contract A, between parties K and L, concerning transaction T: T shall be considered done and legally binding once Coloured Coin X has been paid from address [foo] to address [bar], and has been verified by no less than 20 subsequent blocks."
There will be lawyers involved, of course. Someone has to actually enforce the contracts and deal with off-blockchain disputes. But dealing with the actual physical transactions and transfers of ownership could be streamlined.
