Trust-less is a concept that is used frequently in the cryptoasset world. I first found it referenced in this Quora post circa 2014 https://www.quora.com/What-does-it-mean-that-Bitcoin-is-trustless
With the advantage of four years since that post was answered I hope to offer some precision to the "trust-less" nature of a thing.
What is trust?
Definition per Merriam-Webster (online)
Trust = Dependence or reliance on a future performance or outcome.
Trust can be an asset or a liability. When you order a package you establish a connection of trust with the carrier to deliver it properly. Have a bank account? Another connection of trust: that the bank will have sufficient money (credit) to meet demand at a given time. Economies are webs of trust. Trusting someone to deliver value can be... valuable when that condition is satisfied. When the trusted party fails it can have devastating consequences.
Helpful hint. Do not mistake what people are likely trying to communicate with the words "trust-less" with the literal definition of trustless, Definition per Merriam-Webster (online)
Bitcoin is the opposite of this. An individual can trust the Bitcoin protocol probably more than he can trust his own self.
Like any human interaction, trust has an ebb and flow. Trust and credit have their own rhythm and cycles. Bitcoin was released to the public with Satoshi's white paper in the aftermath of the financial panic of 2008 - when trust in financial institutions was at a nadir. Bitcoin is heralded as "trust-less" not because it has zero trust, but rather because it dilutes trust in other agents to an unprecedented degree.
Vast wealth is generated in developed economies; civilization has advanced in complexity because human social interactions and institutions are capable of bearing current levels of trust. The path forward is not less trust; the path forward is more trust in the right things and people.
Trust-less may ultimately be an overbroad word that attempts to get the point across. The real optimum comes from trust minimization. At the end of the day humans require some level of trust. It is worth considering where we place immense trust in centralized (and vulnerable) institutions. Most come to Steem for the rewards, but the real reward is being able to post content to a public blockchain with no intermediary. Neither a company nor a government. Let's hear what's on your mind about the subject of trust in digital interactions.
