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RE: Understanding blockchain's social impact

in #busy6 years ago

Nice post! Although there is a cost in effectiveness and efficiency, i value decentralisation for a higher trust factor. Computational trust is THE invention of blockchain so degrees of decentralisation are a worthy point in discussion.

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"Trust" is the real value. We know how to create "trust" using "trusted third-party" mechanisms, which turned out to be prone to abuse.

Blockchain drastically decreases the cost of demultiplying the 'trusted third-party'.

To the point where having a "trusted fourth party" and a "trusted fifth party", etc. becomes so affordable that "third parties" lose their privileged position ...

i truly love this reply :-)

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