I've been to US for a business trip and they use STOP signs at small junctions. What the cars do is that they will always stop at a stop sign, and the car that reaches the stop sign first will be allowed to go.
It's a very good system (save electricity and all) but I don't think it will work here (sad to say) cause drivers are so used to seeing traffic lights that if they don't, they won't stop at all.
Maybe we can have more pedestrian (zebra) crossings and have a CCTV installed at each crossing so we will have proof whenever a driver breaks the law?