Hacker Noon December 23, 2020
Enterprises need to collaborate with each other to accomplish business objectives. In the course of business, there are situations that call for utmost sensitivity in conducting transactions. Here, it is not necessary that all the involved parties can be trusted. Conventional legislation provides trusted third-party intermediaries to create a trustworthy environment.
With increased security incidents and fraudulent activities hitting the headlines — there is a general mistrust in traditional third parties that store data in a centralized database, the party that has control over the central database is in an additional position of power that may not be acceptable to a group of collaborators.
In addition, multiple factors like competitive, economic, operational, strategic risks lead to a trustless environment —...
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