The cost to the global economy of managing human trust can be measured in the trillions of dollars per year. A whole range of business functions (audit, compliance, cybersecurity, inspection, certification) exist that try to narrow the uncertainty associated with trusting others. However, they fail, with rising cost. Our vision is a world where these functions no longer exist as they are cryptographically encoded into the design of applications.
Our view is that blockchain is a censorship resistant machine for the creation of tokens. Those tokens can represent digital currency, real world assets or simply data itself i.e., for any type of data it is possible to create a token that provides cryptographic proof of its properties (time, integrity, provenance, identity, uniqueness….) without the reliance on a centralized trusted authority.