Ethereum and Bitcoin that they all provide for the world is a new place to deposit your trust. And so there is trust that is lost in the legacy world. And now it doesn't know where to go. But Bitcoin and Ethereum and all these DeFi protocols, while they may seem like speculative toys now, every single DeFi protocol that we've interviewed on the Bankless Podcast and even the ones that we haven't, the common problem that they're always trying to get right with their protocol is the removal of trust. And while we call Bitcoin and Ethereum as like these property rights management systems or these ledgers, what they really are are trustless institutions. They are trust coordination layers in a world where we are losing our trust in our previous institutions because of the generalized mismanagement by messy humans. We are gaining trust in these protocols that operate by code. And to me, that is the fundamental truth of what this industry is solving is the trust issue, which is an issue as (79/97)
You are viewing a single comment's thread from: