{"id":77500,"date":"2019-01-22T18:00:58","date_gmt":"2019-01-22T18:00:58","guid":{"rendered":"http:\/\/www.sickgaming.net\/blog\/2019\/01\/22\/how-blockchain-changes-the-nature-of-trust\/"},"modified":"2019-01-22T18:00:58","modified_gmt":"2019-01-22T18:00:58","slug":"how-blockchain-changes-the-nature-of-trust","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2019\/01\/22\/how-blockchain-changes-the-nature-of-trust\/","title":{"rendered":"How Blockchain Changes the Nature of Trust"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/www.sickgaming.net\/blog\/wp-content\/uploads\/2019\/01\/how-blockchain-changes-the-nature-of-trust.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>Blockchains have to be trusted in order for them to succeed, and public blockchains can cause problems you may not think about, according to Bruce Schneier, a fellow and lecturer at the Harvard Kennedy School, in his keynote address at December\u2019s\u00a0<a href=\"https:\/\/events.linuxfoundation.org\/events\/hyperledger-global-forum-2018\/\">Hyperledger Global Forum<\/a>\u00a0on \u201cSecurity, Trust and Blockchain.\u201d<\/p>\n<p>Schneier began his talk by citing a quote from Bitcoin\u2019s anonymous developer, Satoshi Nakamoto, who said \u201cWe have proposed a system for electronic transaction without relying on trust.\u201d<\/p>\n<p>\u201cThat\u2019s just not true,\u2019\u2019 Schneier said. \u201cBitcoin is not a system that doesn\u2019t rely on trust.\u201d It eliminates certain trust intermediaries, but you have to somehow trust Bitcoin, he noted. Generally speaking, the Bitcoin system changes the nature of trust.<\/p>\n<p>Schneier called himself a big fan of \u201csystems thinking,\u201d which is what the issue boils down to, he said. This is something that is in too short supply in the tech world right now,\u2019\u2019 he maintained, and \u201cwe need a lot more of it.\u201d<\/p>\n<h3>Trust relationships<\/h3>\n<p>Schneier\u2019s talk focused on the data structures and protocols that make up a public blockchain. He called private blockchains \u201c100 percent uninteresting,\u201d explaining that they\u2019re easy to create and secure, they don\u2019t need any special properties, and they\u2019ve been around for years.<\/p>\n<p>Public blockchains are what\u2019s new, he noted. They have three elements that make them work:<\/p>\n<ul>\n<li>The ledger, which is the record of what happened and in what order<\/li>\n<li>The consensus algorithm, which ensures all copies of the ledger are the same<\/li>\n<li>The token, which is the currency<\/li>\n<\/ul>\n<p>All the pieces fit together as a single system, and whether they can achieve anything gets back to the issue of trust, he said.<\/p>\n<p><em>Read more and watch the complete presentation at <a href=\"https:\/\/www.linuxfoundation.org\/blog\/2019\/01\/how-blockchain-changes-the-nature-of-trust\/\">The Linux Foundation<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchains have to be trusted in order for them to succeed, and public blockchains can cause problems you may not think about, according to Bruce Schneier, a fellow and lecturer at the Harvard Kennedy School, in his keynote address at December\u2019s\u00a0Hyperledger Global Forum\u00a0on \u201cSecurity, Trust and Blockchain.\u201d Schneier began his talk by citing a quote [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":77501,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[],"class_list":["post-77500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-linux-freebsd-unix"],"_links":{"self":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/77500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/comments?post=77500"}],"version-history":[{"count":0,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/77500\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media\/77501"}],"wp:attachment":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media?parent=77500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/categories?post=77500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/tags?post=77500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}