Inspiration from Mechanism Design
Recently, I faced a challenging situation in a business collaboration, one that tested my faith in the fundamental goodness of professional partnerships. Without delving into specifics, let's just say it was an encounter with malicious intent, the kind that leaves you both mentally and physically drained.
In the aftermath, as I sought ways to understand and prevent such experiences, my thoughts turned to blockchain as a source of inspiration in building trust.
Blockchain, at its core, is an immutable truth machine. It creates an environment where every transaction, every agreement, is recorded in a way that's transparent and unalterable. This kind of system fosters strong collaborations by preventing unwanted behavior at a mechanism design level.
The key for a trustable collaboration, I believe, lies in not just relying on words that can be inaccurate or misleading. Instead, we should lean on something that can be trusted by a third party, like a ledger or having multiple sources to validate any important information regularly. This approach shifts the focus from blind trust to verified trust.
