The upcoming revolution of trust-commoditization will fundamentally alter power structures in society, disenfranchising institutions and its constituents born into a role of assumed guardianship of our economic and political world. I'll discuss why they were there the in first place, what has changed and throw some ideas around for how it might play out. http://ouisharefest.com

1. Gavin Wood
Booting the Shadow Aristocracy
• Gavin Wood
• Ethcore Limited
• @gavofyork

2. There’s a Shadow Aristocracy
Corporations, Institutions and Governments
The only way to send economically “strong signals” between
ourselves
They are in control of our interactions
Try making a payment, having a bank account or doing
business without them
They “protect” our ID from predators
And often, they fail.

3. It works because we trust them
We can interact with each other, because we
believe the other will be held to account by
the trusted intermediary
Words are cheap: action is everything

4. Trust is Thinning
Incompetence and misbehaviour
2008 crisis, Snowden, Assange, and all the others
A paper world in a digital revolution
As business is reborn on the Internet, we need a digital
solution, not a facelift

5. And there’s a New Solution
Trustless Consensus Computing
Blockchain, Bitcoin, Ethereum

6. Blockchain
A crowd solution to an age-old problem
Crowd-sourced consensus to enforce the rules
Bitcoin
Rules of a basic currency (ownership of physical fungible
tokens). Crypto-currency
Ethereum
Any rules.
Crypto-law

7. Moving beyond the Status Quo
Out with the old
Fewer and lighter points on the trust network:
Omnipotent banks Gatekeeper lawyers 1% for notaries 7% for Paypal
In with the New
Ownership over personal authority: no need for proxy authorities
New businesses to match-make, guide, secure, transition and organise.
New services to take advantage of vanishing transaction costs for rule-based
interactions.
New freedoms to take advantage of an allegal interaction infrastructure.

8. Booting the Shadow Aristocracy
Questions?
Dr. Gavin Wood
@gavofyork