governance structures

One of the characteristics of blockchains that gets a lot of attention is how they enable distributed trust. The topic of trust is a surprisingly complicated one. In fact, there's now an entire book devoted to the topic by Kevin Werbach. But here's what it means in a nutshell. Organizations that wish to work together, but do not fully trust one another, can establish a permissioned blockchain and invite business partners to record their transactions on a shared distributed ledger. Permissioned blockchains can trace assets when transactions are added to the blockchain. A permissioned blockchain implies a degree of trust (again, trust is complicated) among members of a consortium, but no single entity controls the storage and validation of transactions.

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