When you run an application in the cloud (for example, on Amazon Web Services or Microsoft Azure), you are billed according to a combination of time, storage, data transfer, and computing speed requirements.

Trust can be achieved by increasing transparency requirements, namely by sharing identity and reputation information.

Intermediary-controlled trust came with some friction, but now, with the blockchain, we can have frictionless trust.

Old intermediaries that are threatened by technology always die hard. They do not simply roll over. They keep fighting while they are shrinking. Newspapers, cable television providers, and travel agents are some examples.

Carrying a secure wallet with our full electronic medical record in it, or our stored DNA, and allowing its access, in case of emergency.

By default, everything is encrypted. By virtue of decentralizing the information architecture elements, each user can own their private data, and central repositories are less vulnerable to data losses or breaches because they only store encrypted information and coded pointers to distributed storage locations that are spread across distributed

Also, blockchains can have a variety of APIs, including a transaction scripting language, a P2P nodes communications API, and a client API to check transactions on the network.

Blockchains also enable assets and value to be exchanged, providing a new, speedy rail for moving value of all kinds without unnecessary intermediaries.

That new layer is mostly about trust, so we could call it the trust layer.