Blockchain: Trust Companies: Every Company Is at Risk of Being Disrupted by a Trusted Version of Itself

by Richie Etwaru

Richie covers the so what of blockchain as opposed to the crowded area of the what of blockchain. In the 1st half readers self-realize that a trust gap is exponentially expanding in commerce, and humans are carrying the unnecessary burden to always trust but verify with intermediaries. Today, we the human species start every company or transaction with the automatic subliminal assumption that counterparties cannot be trusted. In the 2nd half, Richie re-positions blockchain from a paradigm that is looking for a problem, into a paradigm that would help close the trust gap. Blockchain, mankind’s first opportunity for trusted commerce at global scale.

162 pages, Kindle Edition

Published August 9, 2017

Reviews

[Neil H · Rating 2 out of 5]

First things first. Start from chapter 10. The prior chapters are just narratives on commerce and evolving technology and fast facts which we do not need to get into or which we already know if you are living and breathing. The issue with contracts and honoring them is that a contract is a review of items listed as conditions to be fulfilled. There will be multiple iterations for which presumably the BC tech will be good at. But like real estate transactions which the author cites as a possible compliment to BC is that in the case of renovation work, not all are updated to reflect changes. It has to come from an essentialized platform where every transaction done in the real world is faithfully rendered in the BC unit/contract which is an issue in itself. As the author puts forth an origin and its touchpoints, who determines the touchpoints; buyer or seller? An "Uber, Airbnb" replacement i would think still needs a first construct to provide the necessary conditions from incipient idea to scale. What's to stop it from achieving monopoly by withholding necessary algorithm and trade information if the BC tech is based on confidentiality. Another hiccup I see is that contracts or conditions are straightforward if A=B=C but the context, changing situations and interpretations are all liable to human construct and flavor. How then can we reconcile this BC tech(straightforward) and our whims (subject to caprice, cultural, language, situational differences)? I've read an article about even if the BC is decentralized as it's winning charm seems to be, what happens if the majority key participants which could override any change or "suspicious activity" within its unit blocks not be subject to manipulation? Or its bedrock; algorithms which are served to bias one participant over the other.

I have just started reading on BC tech, apparently its the new darling of trust and intermediary efficiency and I would need to learn more. But it seems to be a tool that has limited means.

[Brad Boyson]

Some very well explained concepts by an author with a passion. A valuable read, albeit at times the writing / content feels a bit rushed (thin).