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Trust always involves some level of vulnerability on the actions of another. When we trust others, we are relying on them and consequently we are making ourselves more vulnerable. A bit naively, some scholars argue that trust decisions are based on a cost/benefit analysis, which is maybe theoretically true but it rarely happens in real life. In reality, many other elements play an important role, and they are critical in the case of the blockchain. "In a wilderness of mirrors. What will the spider do?" (Gerontion, T.S. Eliot 1920)
Trust always involves some level of vulnerability on the actions of another. When we trust others, we are relying on them and consequently we are making ourselves more vulnerable. A bit naively, some scholars argue that trust decisions are based on a cost/benefit analysis, which is maybe theoretically true but it rarely happens in real life. In reality, many other elements play an important role, and they are critical in the case of the blockchain. "In a wilderness of mirrors. What will the spider do?" (Gerontion, T.S. Eliot 1920)