> > I don’t understand what problem web3 can solve that a trusted entity cannot. > The lack of trustworthy entities. Note that trusted != trustworthy. In sec

> > I don’t understand what problem web3 can solve that a trusted entity cannot. > The lack of trustworthy entities. Note that trusted != trustworthy. In security parlance a trusted entity is one you must trust, that can fuck you over (eg. 'Control' in popular culture, handlers in actual HUMINT, a bank that has your deposited money, etc.). In that same parlance, trustworthy isn't really a thing. You can raise the cost of violating that trust in various ways (assets held by a theoretically disinterested third party with different incentives, reputational costs that foreclose future participation in the system, credible threats of legal action, etc.), but there isn't anything that you can do if the trusted entity is willing to pay that cost (or is unwilling to pay the cost of not violating that trust) to prevent the trust violation.