It seems the numbers and values of bitcoin at that time did not match: In september 2011, 1 million BTC worth more than 5 million dollar. And you really can not do a lot with 100K dollar in a trust
And by looking at such a contract you will feel sad that no matter how secure bitcoin is, you still can not trust another person without a contract and the protection of law enforcement. Maybe that's why he want to write all these into blockchain, but then the problem is who is going to enforce it without law enforcement?