The technology of blockchain facilitates transactions and governance in a manner which doesn't require trust. At least not in the traditional sense. Here is an explanation of that from Coindesk.
Parties who don't trust each other or don't even know each other can conduct business or even oversee a society. They do that with no third party or middleman.
One benefit from that is to lower cost of financial transactions. Some estimate, for example, that the expense incurred in a credit or debit transaction is 3%, plus hidden fees. Using blockchain it's less than 1%. In itself that one feature can help small businesses scale and entrepreneurs in developing countries lower the cost of doing business.
Eliminating the trust requirement is key because the level of trust around the world currently is low in most categories. Annually, Edelman Public Relations firm documents that in its trust research. Here is the 2017 Trust Barometer.
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