Preface

Law. Scientific discovery. Civilization itself. Trust rests at the core of our greatest human endeavors. It is the mechanism by which we collaborate and progress. It sustains communities and builds successful societies. When trust erodes, human progress goes with it.

Historically, institutions have served as custodians of trust. They safeguard the facts and systems that allow human beings to cooperate effectively at scales. But global confidence in institutions has dropped precipitously in recent years.¹ As the vulnerabilities and inefficiencies of existing institutional structures have emerged, these pillars of modern civilization have started to falter under the weight of antiquated systems, human error, and heightened public scrutiny.

Blockchain technology has been called a ‘trustless’ system. In fact, the opposite is true. Blockchain isn’t a replacement for or a shortcut to building trust. Rather, it is a trust accelerator, giving individuals and organizations a head start in cultivating solid relationships, built on a foundation of security, accountability, and transparency. Blockchain is an opportunity to establish previously untenable channels for collaboration and reinforce existing partnership, lengthening and strengthening the ties that bind us to each other.

To date, blockchain has been deployed most often in for-profit sectors such as finance. However, many of the technology’s most promising applications lie in the fields of social and civic innovation. Realizing this potential will only be possible as organizations push forward the frontiers of trust. As blockchain solutions are more widely applied to address global inefficiencies, their potential to fortify institutions and improve lives will become more powerful and could usher in the next chapter in the story of human cooperation.