You make an extremely good point. Many in the crypto space think of trust as the problem, and certainly in the case of money where you need someone to hold your money on your behalf and to not abuse it (such as in the case of a bank). But they go well beyond that and treat trust as something that needs to be eliminated in every transaction of every type, which is essentially taking an argument with a limited scope to an extreme where it no longer makes sense.
Trust is ultimately a key component to almost all aspects of commerce. We should not be trying to remove trust from every area of commerce, but to only remove it where it is not appropriate, and in all other cases to improve our ability to trust each other safely (as Hive does, as your post demonstrates).
Yep. The existing system tells us who to trust often to our disadvantage. Banks are a prime example. Well Fargo just settled a case for a billion. How much did they bilk from people?
Posted Using LeoFinance Alpha