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Components of Coordination
This makes us ponder the existential question: why do we need a central authority to ensure central trust, if we can accomplish the same trustworthiness when the transaction travels from one peer to another, via a network where trust is embedded in it?
William Mougayar • The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology
all the above “tools”, including (i) shared culture (ii) contract law (iii) markets and (iv) TTPs should all fall under the moniker of “trust infrastructure”. It’s just that in the case of contract law, markets and TTPs, these tools build trustless relationships that make human cooperation scalable beyond our local communities.
Baz • You should design trust infrastructure
TRUSTING A TRUSTLESS NETWORK. The Paradoxes of Trust in Blockchain Technology
JENA MARIE ESPELITAassociazioneblockchain.it
The internet was the enabler of large-scale human coordination. DAO tools — built on web3 — now give us the ability to design and manage incentives to maintain positive-sum relationships between stakeholders, keeping them aligned on shared goals as the product or community grows.
Nichanan Kesonpat • Organization Legos: The State of DAO Tooling
Blockchains loosen up trust, which has been in the hands of central institutions (e.g., banks, policy makers, clearinghouses, governments, large corporations), and allows it to evade these old control points. For example, what if counterparty validation can be done on the blockchain, instead of by a clearinghouse?
William Mougayar • The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology
On a blockchain network, nothing is assumed to be trustworthy except the output of the network itself (Werbach, 2018). On any transaction, there are three elements that may be trusted: the counterparty, the intermediary, and the dispute resolution mechanism (Botsman, 2017). Simply put, blockchain tries to replace all three elements with software co... See more