IDG Contributor Network: In ‘trustless’ payment systems, trust is still necessary

One of the easiest ways to explain blockchain to an amateur is simply to describe it as method of transferring assets in a trustless manner. However, this definition presupposes that the blockchain initiate in question understands exactly why trust is so necessary, and how it was enforced before blockchain came about. Basically, trust must be established to ensure that the correct party is making the transaction, and that their currency is real. In a person to person exchange—the sale of