Topic: Blockchain and trust (Read 371 times)

If you ever open block explorer, you would see that every single transaction is available for viewing in the form of ledger. You can track movement of funds and see coins went from which address to which address. This helps in reducing scams since movements are being tracked and person would be traced by this. So blockchain brings in more trust.

With the blockchain, transactions are secure and transparent. Smart contract ensures trust as it's triggered once the contract terms is met and if the terms are not met, then the contract doesn't execute. So with this approach, trust is ensured.

First of all, the blockchain transaction is transparent. This allows me to understand more clearly the time and amount of each transaction. Through smart contracts to increase its trust, they eliminate the need for intermediaries, thereby reducing the risk and increasing the Trust.

The blockchain was originally designed to solve the trust problem of reaching a consensus between mutually untrusted nodes.
Because the data in the case where the blockchains are all realized by strangers and anonymity is officially trusted, it cannot be tampered with. The blockchain has value, and the blockchain is born!
How to solve it, this is a very complicated issue. In simple terms, everyone operates according to the code, which first avoids some of the risks and is also a prerequisite for all trust. Then, in terms of data fraud, various consensus mechanisms have different tolerances for evil nodes. Like Bitcoin's POW mechanism, it requires more than 51% of the calculation power to tamper with. As for POS, it requires a lot of tokens. The PBFT, which is commonly used in the alliance chain, needs to control more than one-third of the nodes. When choosing different consensus mechanisms, you need to take into account various requirements such as eventual consistency and accuracy.
As for asymmetric encryption algorithms, they should all be pretty much the same. You can study the public-private key signature system and the current elliptic curve encryption algorithms. Of course, there are more advanced grid cipher encryption algorithms with anti-quantum and full-homomorphic encryption.

When both sides can't forge the data (written into blocks), then trust is not an issue. If you are enough open minded to accept it .
It much more secure than any of current ledgers.

Blockchain has a transparent system in the transaction, with the smart contracts it can be increased the trust through of them.
We see the good feed back of had a transparency transaction system with the blockchain technology will produce good business and trust.

in my opinion maybe nowadays technology is in control of the transaction that makes it transparent to the investor and blockchain is using that kind of technology

Blockchain can increase the transparency between enterprises.blockchain is an opportunity to who the people have knowledge about Crypto currency.

blockchain reduce business  risk and appliable only for determine kind or applications. The central part of which is a contract. For all kind of contracts blockchain is the best.

Yes with the smart contracts it is already good its flow of this kind of business. By having transparent its transactions in this blockchain technology will creates more trust in this business. The way we see others users has good feedback on blockchain technology will proves it has good usage and it reduces risks in the business.

One word. Smart contracts. They have so many applications and that is why ETH blockchain is so huge. I hope we see many more projects where they will incorporate them. They eliminated the need for intermediaries and therefore lower risks and increase trust. They "enforce" the protocol in which no side can get out of the deal.

with blockchain all transactions will have transparency, everyone can see the data on public ledger 
so, i believe this will increase the trust on any business model mate

trust is actually and will be the biggest issue of crypto projects. many projects are doing solid work do build security and trusts, but others do not pay attention to this. to survive the future, it is essential that alts in general get more trust from investors. and they will do so with delivering solid, secure, work.

This will be done by smart contracts . Just imagine being able to see all transactions that have taken place in the blockchain and removing unnecessary intermediaries. I believe that it will reduce business risk because the great thing about this technology is that, we are seeing use cases where security can be achieved on the blockchain

I don't think satoshi is projecting this kind of idea on where it would be applied into businesses or any other means or benefits yet he do only focused on p2p way of payment system but now blockchain technology do really have further more benefits which can really be applied into sorts of businesses and sectors on a certain country which will cause faster accessibility and transparency which is really good.

Blochain is a unique instrument where you can have free will to partake itself to people who are mindful in crypto currency particularly in bitcoin and altcoin. If the trust is what it is meant in the statement above says the literal meaning of it then yes,I also trust blockchain as it is part of the crypto to be trusted. But if the meaning turns different with blockchain and trust so I guess others can add what's on their mind.

smart contracts are something that has already begun to change the modern business. This technology has allowed to increase the reliability of transactions many times over. It's amazing.

The blockchain is a really innovative tool that was well thought out, planned accordingly. Satoshi Nakamoto, whether it be a pseudonym for a single guy, or an entire team collaboration, it was a real game changer. The blockchain is a decentralized publicly transparent ledger. If Bitcoin is a platform, then blockchain is a foundation.
   The whole point of the blockchain being decentralized and public, means it was conceived on the notion of trust, from peer to peer. It is an entire ecosystem, and to top it all off, the entire project was open sourced.
If that isn't the definition  of trust, then I don't know what is!

The blockchain technology platform is receiving great attention from many large corporations in the world. In addition to being the foundation of all types of crypto, blockchain technology is being applied in many areas of life to manage safely and securely. I believe blockchain technology will be the future of management technology in the new era.

Apart from trust, transparency, blockchain technology negates any possibility of tampering with data, so no original docs or records can be altered or changed.