ScienceDirectScience DirectScienceDirect helpElsevierRELX Group

Blockchains are not simply about money. The modern-day alchemists who minted Bitcoin and other digital assets have animated a generation of technologists to reimagine how the financial and commercial world operates. The vision that these technologists aim to bring to fruition is not just about payment systems and other financial instruments. Large ... See more

...“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

Centralized trust creates negative externalities even when those at the center remain trustworthy. As the market expands, a purely person-to-person approach breaks down and would necessitate the presence of intermediaries. Intermediation, on the other hand, serves many roles, but also imposes costs, especially when the intermediary is a private com... See more