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Actually, "Distributed trust", if the distribution is wide enough, enables "Trustless transfer of value and information". For me that's a clearer way to think
by leppr 8y ago
Actually, "Distributed trust", if the distribution is wide enough, enables "Trustless transfer of value and information".
For me that's a clearer way to think about its potential.
Number one problem it solves is obviously money. With an algorithmic stabilization mechanism, you can now have a fair and unmanipulated currency. (Basecoin, MakerDAO, Havven, ...)
From there, you can have programmatic incentivization. This allows you to solve a huge variety of problems that the internet only began to solve.
For instance :
You can now scale privacy networks like Tor that, in its current state, requires benevolent node operators (of which there are too few), and thus take private communications to the mainstream. (Orchid, Mainframe, ...)
In a similar vein, you can make mesh networks like Firebase actually global by incentivizing the node operators. Bye bye ISP monopolies. (Open garden, Rightmesh, ...)
If you add an identity system (say your government supplies its citizens with a blockchain ID), technologies such as zero-knowledge proofs could allow you to vote on various issues from your home, anonymously and un-censorably. Hello Democracy. (Sovrin, ...)
And if you really want to make your imagination run wild, checkout projects like nCent or Fetch.ai, which propose visions that totally redefine how society, as a network of humans, could function.