The novel thing that blockchains bring to the world is the ability to transfer value between two parties without the need for an intermediate actor serving as a trusted third party that handles the actual transfer (eg. a Bank). Given the assumption that the majority of the network participants are honest, we can transfer money directly between each other and be sure it will end up where we want it to. And it can be done much faster than wire transfers. Magic.There is however another kind of trust that is rarely mentioned, and this one is per blockchain. When a new blockchain pops up, it comes with some social rules that we all agree on.
![1_RupK6xgEtPe66kfb7aBR8g.png](Source
https://medium.com/ethereum-classic/why-social-rules-in-blockchains-matter-efebb907c0cd