Projects based on the elimination of trust have failed to capture customers’ interest because trust is actually so damn valuable.
Blockchain is not only crappy technology but a bad vision for the future
Kai Stinchcombe

This is the best summary of the article along with what’s wrong with it.

Does a classic contract between two parties eliminate the need of trust?

Can your provide an example of a business that is based solely on trust?

Do you think your phone operator or your bank gives you access to a service and lets you pay later because it trusts you or because they are covered by a contract?

I argue that systems based on elimination of trust, regardless whether total or partial have improved things throughout the history and I think it’s hard to debate the usefulness of the legal system.