Constructing Trustworthy and Safe Communities on a Blockchain-Enabled Social Credits System

...“blockchain trust” can be defined as generalized trust, since it does not deal with personal relationships; it is a form of distributed trust, because the truth is ensured not by a centralized body but through a consensus of all the participants; it has both affective and cognitive aspects of trust, due to the fact that although human elements w... See more

There is growing recognition that blockchain technology has significant potential to alter how organizations and people work and communicate. However, theoretical guidance concerning how organizations leverage blockchain technology to enhance value creation for users is still limited.

Grounded in the socio-technical perspective and leveraging the r

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And, through programmable trust, cryptonetworks stand to enable human cooperation at a scale that is completely unprecedented. Trust is becoming unbundled, decentralized, and inverted –– instead of flowing top down from institutions to individual people, it is now beginning to emerge bottom up from individuals and software.

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

Blockchain communities continue to stand for openness, freedom, censorship resistance and credible neutrality, at a time where many geopolitical actors are increasingly only serving their own interests. This enhances their international appeal further: you don't have to love US hegemony to love blockchains and the values that they stand for. And th... See more

Since the success of Bitcoin, there have been increased focus of studying the application of blockchain in a broad range of applications, such as in solutions facilitating identity privacy and transaction security using a decentralized architecture via different consensus mechanisms (e.g. proof-of-work) between different geo-located IoT devices/nod

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This highlights the need for on-chain reputation systems. On-chain reputation systems will capture our actions that occur on blockchains: our contributions to DAOs, our governance voting history, our token holdings, and more. Ultimately, reputation systems will use these on-chain actions to make predictions about how we will act in the future to ma... See more

“Trustless trust”, as an expression, conveys a trait of blockchain being inimical to trust, when in fact it is the contrary. Not only does blockchain thrive on trust, it is able to “generate” trust in circumstances where there is none, such as impersonal cases brought about by the scale of a network typically found in collaborative transactions don... See more