TRUSTING A TRUSTLESS NETWORK. The Paradoxes of Trust in Blockchain Technology
JENA MARIE ESPELITAassociazioneblockchain.it
Saved by SpaceXponential
TRUSTING A TRUSTLESS NETWORK. The Paradoxes of Trust in Blockchain Technology
Saved by SpaceXponential
Internet of Things solutions will require a decentralized system for machine-to-machine transactions; • Virtual reality content creation, by which future imaginary worlds will be collaboratively produced by writers and coders, could use a blockchain system for divvying up royalties via smart contracts; • Artificial intelligence and Big Data systems
... See moreWhereas Airbnb has designed for the human element of trust, the blockchain was designed for a parallel element of transactional trust, where the human is also part of it, but behind the scenes, and that human is represented on the blockchain
The blockchain decentralizes trust and makes way to multiple, singularly harmless, but collectively powerful entities that authenticate it.
If trust is the key blockchain enabler, banks already trust one another, so why do we need a “trust network”? The answer lies in the fact that when we examine the cost of running the current trust system, we will find these costs have become excessive. This is in part due to regulations, and in part due to the required complex integrations between
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