Olga Zeveleva
10 January 02:01.
17

Does blockchain technology take away the need for human beings to trust each other?

TechPhilosophyBlockchainSocietyCryptocurrencyThe internet
Answer
Answer
Comment
0
Follow
1
1 answer
Share

No. It does take away the need for trust in a very limited sense, in that I don’t need to trust you to know that you have paid me. One other possibility is you could fake a note, and I would have to trust you have not given me a fake note - and I don’t have to have that trust with blockchain anymore.

But trust is still required in society. If I am paying you for my pizza, I have to trust you to make that pizza with the right ingredients, and there is no way that blockchain is going to help me there. I still have to trust you to not spit in my food.

But in the very narrow sense of transactions, we could get rid of the need for trust with blockchains.

Answer