The Blockchain and the Trusted Third Parties
According to the national federation of the Trusted third parties, a Trusted third party is an actor for developing trust in digital world that occurs in the protection of identity, files, transactions and digital memory. It is the power to trust each other without know each other. It reinvents the relationship of trust because we are in a system of pair to pair.
The blockchain is a new technology that allows a large number of people who belong to the same network and do not know each other, to realize with full trust some operations called “transactions”. This is posing the problematical question of what will become of the Trusted third party in front of this technology, which, for Alain Bobant the president of the Trusted Third Party Federation, interests and concerns the trust third parties.
Indeed, the value-added of the blockchain is the principle of decentralization. According to this principle, there is not a central authority of control during transactions, the blockchain serves as an “automated” Trusted third party. It is in this context that the blockchain appears as a threat for the traditional trusted third parties. It makes lapsed all others activities they used to do, and later on it could conduct to the end of the trusted third parties.
However, in order to make working the algorithms, corporates and humans are required behind the technology of blockchain. We will delete certainly the trusted third parties which presently exist but it will be neccessary to create new trusted third parties with new tasks.