[narrator]

The only successful applications of business blockchain I've seen is in businesses where nobody trusts the brokers. For example, the diamond business has to keep track of where the diamonds came from and nobody trusts the brokers to not lie, so blockchain works here.

[fwip]

How does the blockchain keep brokers from lying?

[plokiju]

Maybe you trust the source, but not the broker?

[dlubarov]

Exactly - if the diamond mines are honest then you don't really need to trust the middlemen. You could also see how many diamonds a certain mine was claiming to produce, and if that number seemed disproportionate to the size of the mine, people might stop treating diamonds coming from that mine.

[AndrewKemendo]

I've never encountered a system where an un-trusted middleman didn't get out-competed, driven out by the buyers or (in one case) actually killed.

Hasidim don't seem like they have that problem.