On the face of it the idea of removing traffic lights from junctions seems crazy. Surely chaos would result with regular accidents.
This experiment near Bristol suggests that maybe it can work - since the trial started they've seen a reduction in congestion despite an increase in traffic...with almost no accidents.
There is of course an interesting issue of driver education & training - for a while at least, the norms of negotiating such a junction are likely to remain with some drivers assuming they have a right of way when perhaps they don't any more. This also impacts on how pedestrians, in particular those with visual impairments, negotiate the traffic.
What seems most interesting about this trial is how both drivers and pedestrians seem to arrive at mutually beneficial behaviours that allow all to "share" the space.