From monopoly of trust to distributed trust: a cultural shift in the way we think about money.
The traditional financial system is based on hierarchical trust; we rely on banks, central banks, and the state. This is a 'vertical' model in which a few institutions hold a monopoly on public trust.
Bitcoin overturns this paradigm.
The network operates according to mathematical rules and distributed verification, with each node independently checking the validity of transactions. Users do not have to trust the other party, but rather the cryptographic protocol. This is why we talk about a 'trustless' system: not because trust disappears, but because it is redistributed horizontally.
Some studies define this phenomenon as 'trustless trust': a new social model in which guarantees come from a set of publicly verifiable software rules rather than a central authority. This raises an essential question:
What does it mean to trust code rather than institutions?
International institutions remind us that traditional trust remains a fundamental public good. At the same time, Bitcoin's popularity shows that distributed digital trust is already an operational reality, particularly in countries where financial institutions are not trusted.
Understanding how trust works is key to understanding how our freedoms work.
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