
Distributed Trust: The Future of Crowds & Honesty

...“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
JENA MARIE ESPELITA • TRUSTING A TRUSTLESS NETWORK. The Paradoxes of Trust in Blockchain Technology

On a blockchain network, nothing is assumed to be trustworthy except the output of the network itself (Werbach, 2018). On any transaction, there are three elements that may be trusted: the counterparty, the intermediary, and the dispute resolution mechanism (Botsman, 2017). Simply put, blockchain tries to replace all three elements with software co... See more
JENA MARIE ESPELITA • TRUSTING A TRUSTLESS NETWORK. The Paradoxes of Trust in Blockchain Technology
Indeed, taken to the limit, in Web3, users sometimes have no need to trust the company (or people) behind a project; rather, they just have to trust the code itself.