I've written a new article covering smart property, that is, physical items in the real world whose ownership is controlled by the Bitcoin block chain. You can find it here:
https://en.bitcoin.it/wiki/Smart_PropertyI give cars, phones and house locks as examples of things which can be traded or used as collateral in a cryptographically mediated way. Feedback welcome as always.
So if you give me a loan to buy an Iphone are you going to write into the contract that I'm not allowed to jailbreak it? And isn't that the same as not paying a third party to implement the hair-brained DRM in the first place and just ask nicely to abide by the terms of the contract?