Trust

Matthias Babel and Marc-Fabian Körner

Chapter 55 in Elgar Encyclopedia of Cryptocurrencies, Blockchain and DLT, 2026, pp 269-273 from Edward Elgar Publishing

Abstract: This chapter explores the critical role of trust in digital business interactions. Rapidly evolving interconnected ecosystems often result in a lack of personal contact and insufficient guarantees regarding data protection and usage, introducing trust gaps. Trusted third parties have emerged as intermediaries to address these trust gaps, but they can lead to new challenges. Blockchain technology offers decentralized alternatives that reduce reliance on intermediaries. However, off-chain data and the need to balance transparency with privacy introduce additional complexity, potentially creating new trust gaps. Simplifying blockchain systems is therefore essential to preserving user confidence and maintaining trust in these digital environments.

Keywords: Digital trust; Trusted third parties (TTPs); Trustless systems; Consensus mechanisms; Oracle problem; Self-sovereign identity (SSI) (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035339952
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