4min chapter

Life Itself Podcast cover image

Cory Doctorow on Blockchain, Crypto & Web3

Life Itself Podcast

CHAPTER

Trusting Third Parties Is the Hardest Part

There's a real problem with trusting third parties, right? Like it's a system that works well and fails badly. And so rather than having a referee whom you have to trust, you have some technology. If we both trust each other not to lie about whether the windows are clear, why do we need the block chain? Right? So by definition, things that happen on the block chain happen between people who don't trust each other and who are in need of a referee. We hire an oracle. But i think that then you're also getting into this actually very narrow range of trust. I trust this person not to hold the money. I do trust this person to say where

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