Great article from the Crypto Monday Club’s Richard Brown. I really only disagree with one point:
“If your cryptocurrency idea requires users to trust only you, you’re missing the point.”
Let’s flip that on its head for a second. If you’re a corporate (e.g. bulge bracket bank) your users trust you already – because you’re a bank. People know where you live and the reputational consequences of breaching their expectations in the way that a blockchain is designed to remedy would be commercially catastrophic. Trust isn’t a pain point here from the consumer’s perspective.
So I ask this: is that statement still true if your trustless platform isn’t designed to protect your users from you… but to protect you from them?
