The technology of facts

A short post, as it is time to correct something about blockchain.

A common blockchain misconception is that it is the Technology of Trust (even Goldman Sachs brands it that way)

What the blockchain does is increase transparency.
Transparency influences trust: It reduces its need.
Less trust is needed, as things are transparent.

With blockchain we know the facts. We don’t need to TRUST it, we KNOW it.
Massive difference.

That is why blockchain, crypto, and distributed ledgers are great assets to the world: they reduce the need for trust, and with that the unavoidable MISTRUST in systems.

This makes blockchain not the technology of trust, but the technology of facts. Or even the technology of transparency. A necessary rebrand.

Image credit: Unsplash

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