Trustless Transactions

Trustless Transactions are transactions without the need for a trusted third party.

What does it do?

Example: eliminates the role of many intermediaries, thereby reducing transactions costs by introducing much needed competition to incumbent firms. From Blundell-Wignall, A. (2014), “The Bitcoin Question: Currency versus Trust-less Transfer Technology”, OECD Working Papers on Finance, Insurance and Private Pensions, No. 37, OECD Publishing