This is the best summary of the article along with what’s wrong with it.
Does a classic contract between two parties eliminate the need of trust?
Can your provide an example of a business that is based solely on trust?
Do you think your phone operator or your bank gives you access to a service and lets you pay later because it trusts you or because they are covered by a contract?
I argue that systems based on elimination of trust, regardless whether total or partial have improved things throughout the history and I think it’s hard to debate the usefulness of the legal system.