> crypto has the potential to open value exchange globally without the need for trusted entities While the protocols and algorithms may be trustless, there is

> crypto has the potential to open value exchange globally without the need for trusted entities While the protocols and algorithms may be trustless, there is a huge amount of trust inherent in performing financial transactions between two parties even when using cryptocurrencies: 1a. At least the sender must trust an exchange to purchase crypto 1b. At least the sender must trust mining software and/or hardware to create crypto 2a. You must trust wallet software to hold and transfer crypto 2b. You must trust an exchange to hold and transfer crypto 3. You must trust nodes to forward transactions in a timely manner 4. You must trust miners to include your transaction in a block in a timely manner 5. You must trust the receiver to acknowledge the receipt of the transaction #3 has historically been fairly reliable, but there's no intrinsic reason nodes couldn't collaborate to censor addresses. #4 can at least be accomplished by more or less increasing the fee sent. #5 may be secured through traditional means (law enforcement) if both addresses are provably tied to external entities (eg humans, corps, orgs, etc) and the transaction follows relevant laws and regulations in both parties' jurisdictions. Obviously this introduces a huge amount of trust. #5 isn't a concern for donations which is partially why cryptocurrencies have seen some success at funding terrorist organizations (eg altright and isis). #5 isn't a concern for transactions fully handled by smart contracts, although then you must audit or trust the smart contract code. Also many contracts are mutable by an administrator which may introduce additional trust requirements.