Value is “perception of benefit”.
- Value is perception of benefit.
- Value may or may not be quantifiable.
- Value is perceived conscious / unconscious.
- Value lies in everything.
- Value is being exchanged all the time.
- Value exchange is not just material , it can be a conversation / information sharing or any action which creates perception of benefit.
- Value is exchanged based on Trust (protocol).
- The only time when there is no value exchange is when someone is captive and hence bent to the will of the other.
Existing trust protocol
- Peer-Peer value exchange between humans usually happens when they know each other.
- If unknown to each other, value exchange happens via central mediators who provides platform for exchange by storing personal information of both the people (like banks , online retailers , …)
- These central mediators charge fee to provide value exchange platforms.
- In the existing trust protocol, identities must be verified one or the other way.
Blockchain trust protocol
- Blockchain technology provides a way to exchange value without revealing identities.
- This means we don’t need to know whom we interact with while securely exchanging value.
- This also eliminates need for any intermediaries for value exchange.
I believe blockchain trust protocol opens many new innovations in many industries in near future.