Trustless Systems

(Audio available for paid subscribers.)

Shams and delusions are esteemed for soundest
truths while reality is fabulous. If men would steadily
observe realities only and not allow themselves to be
deluded, life, to compare it with such things as we
know, would be like a fairy tale.

A trustless system is, as you might suppose, any system in which no trust is required to perform what would normally be a trust-based function; no human participants are in the mix and no one is asked to believe or have faith in anyone else. The system is theft-proof, tamper-proof, and fool-proof, meaning there’s no counterparty risk, no one on the other side of a transaction who can screw you out of your money or your sovereignty, no one to not sign off or forget to flick a switch, so there’s a lot less room for things to go sideways. In theory, there’s not even a force majeure or Act of God clause in a truly trustless system, but in practice, only one system is truly trustless.

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'It was the greatest sensation of existence:
not to trust but to know."

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