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71 Do We Trust the Internet? with evelyn douek and Primavera de Filippi (Trust episode 1)

Reimagining the Internet

CHAPTER

Is There a Trustless Blockchain?

The ways in which transactions are cryptographically signed and checked ensuring that any transaction posted to the blockchain doesn't remain for very long is a confidence machine. You see confidence machines as a positive in this framing, yes? Yes, exactly. So when you say something is trustless, you're not saying much except for saying that it does not require trust. Some systems have more requirements for trust as in the case of central banks. But you cannot completely eliminate the trust and the trust is just under need and the governance of the underlying network. And once I have sufficient reliability and predictability or I feel that I can predict enough so that I'm willing to engage into this uncertain activity, then I

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