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The Death and Rebirth of Trust - Philip Leone, CEO & Co-Founder

Trust and Identity suffered a mass extinction event!

I grew up in a post war period where “Identity” was something about which you never had a conversation.  Very few people had passports. No one had identity cards or even credit or debit cards, because they didn’t exist.  A paper driver’s license and a bank pass book for deposits and withdrawals comprised our “Identity Universe”.  Even cheques were considered dodgy.

Identity was local. Your Identity was Trusted because it was based on local relationships.  You benefited or suffered from the actions of previous generations and your current reputation and those of your family and associates.  Networks of Trust were built up at the family, community and regional level.  Serious business was done on a face-to-face basis and your reputation was based upon your Performance.

Unfortunately, both Trust and our Identities died a most unnatural death.  Our new Identities have been designed by and imposed upon us by others.  Should we Trust their motives? 

Big Brother is hiding in plain sight.

Today, there are vast troves of data that comprise our so-called Identity.  Unfortunately, we all live very schizophrenic existences, since “who we are” is defined by people and organizations that we have never met and who define our personas in a way that serves pre-agreed purposes – usually financial and political outcomes.

You most certainly do not own your identity, you are arbitrarily assigned an identity that subjectively meets a requirement and role defined by others.  Whether you are to be trusted is often determined by machine intelligence.

Back to the Future!  Welcome to 1984!  Data is the 21st Century’s gold rush and those panning for your gold are not artisanal miners – they do it on an industrial scale using algorithms that are weighted to achieve an agreed return on investment for their users.

  • Your entire biological life: DNA, blood chemistry, detailed 3D images of your nervous, digestive, endocrine and circulatory systems to provide you with a better life, which can also be used to determine your access to health insurance and even life saving drugs and procedures and employment prospects.

  • Your entire economic life: Every transaction you undertake and with whom is archived and analysed, even before you willingly dump the whole caboodle onto Facebook, Instagram, WhatsApp and LinkedIn.

  • Your entire political life: How you voted, who you should vote for, what are the real political issues, who are the saints, who are the sinners are presented to you with as much or as little bias or truth to achieve somebody else’s paid for outcome.

  • Your entire social and cultural life: Which gods you worship, what books you read, your sexual preferences, the clubs you’ve joined, with whom you associate, and all of your private and personal communications are archived, analyzed and never forgotten.  Guilty until proven innocent.

Fortunately, many far-sighted and enlightened enterprises are looking at the future through a new lens!  They are in simpatico with DocuChain’s vision of Trust, Identity and Custody.

Technology doesn’t always set you free!

There seems to be more and more examples of the abuse of technology than its deployment in rational and useful applications.  It serves monopolists well.

  • Production: Centralised development, production, assembly and logistics that can be heavily weighted to benefit one economic stakeholder, while harming another without their consent or knowledge, while enforcing virtual monopolies.

  • Capital: Centralized pools of capital managed by insiders to minimize its cost, ease of access and the cost of failure without calculating the impact on those, who have played a seminal role in its creation.

  • Communications: Centralized analysis of data that ensures the success of their products and services, while intentionally disseminating imperfect information to deliver a controlled message.

This is a huge impediment to innovation, job creation, environmental sustainability and service excellence.

This technology model is highly-centralized and based upon millions of tightly managed servers with billions of clients.  The Clients only provide a limited set of Inputs to this ecosystem, best summarized as turning over your hard-earned lucre or borrowing your lucre back at usurious rates.

The Servers control all of the meaningful Inputs and Outputs of their ecosystems:

  • Form and content of your identity

  • Personal, economic, political data

  • Data security, reliability, integrity

  • Financial settlement

  • Title to assets

  • Contractual terms and conditions

  • Cost of capital, cost of borrowing

  • Terms of lending

  • Litigation and arbitration

  • Regulatory control and compliance

  • Quality and availability of goods and services

  • Health and safety

  • Environmental sustainability.

Welcome to a 12th century version of the 21st century!  Keep tugging those forelocks!

Localisation prevented many of these sins.  Globalisation encourages, hides and justifies them!

Your local baker, butcher and candle stick maker wouldn’t have survived if they treated you like this.  In fact, they didn’t survive anyway, because we deserted them and sold our souls to a handful of unethical, monopolistic corporations. 

DocuChain offers a Trustworthy alternative to this dystopian world!

The solution to this problem is found in a more responsible and ethical use of our existing technology infrastructures.

DocuChain uses our existing technology resources to re-establish Trust based upon transparent, consensual, encrypted Chains of Processes, People and Data, who have a common goal or outcome.  It is in the best interests of the members of the Chain to provide the best Data and agree the most efficient Processes to achieve their shared Outcomes. 

This includes the removal of unnecessary third party costs and the noise of irrelevant Data.

The genie is out of the bottle: we, the people, have access to virtually unlimited amounts of processing power and communication bandwidth - all in real time.  Enterprises and governments were our benefactors and now must adopt new models of customer engagement, sharing of wealth and the return of our identities!

Distributed Chains of Custody allow far-sighted enterprises and governments to rebalance equities in Trust, Identity and Custody!  This is what we do at DocuChain. 

There are billions of disenfranchised people.  How about billions of people creating networked Chains of Custody and determining the nature of their transactions, with whom they will transact and their conditions for engagement and settlement?

This new model is a relationship of equals.  It shares Processes, People and Data in equitable ways that create long term relationships built upon Trust and the recapturing and defining of your own Identity.

This results in a more equitable distribution of wealth.

Let’s not stand on each other’s shoulders, let’s just stand shoulder-to-shoulder!

Philip Denton Leone

Copyright

April 12, 2019.  UK.