But while users no longer have to trust each other, they still have to trust the platform itself. That’s about to change, with consequences for many different professions and society as a whole.

The modern financial system is a market for promises that involve large degree of trust. Human systems are incapable of executing all promises due to interests and goals that could go against them. The inability to commit to promise enforcement limits the set of promises that can be made. And this is the fundamental problem that blockchain as an al... See more

With no centralized authority, the control of a blockchain system is distributed throughout a network. But is a blockchain completely “decentralized?” According to Schneider, summarizing Ethereum co-founder Vitalik Buterin, consensus protocols like Ethereum “are architecturally and politically decentralized, but logically centralized, since they ma... See more