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Ask HN: Isn't the trust model in blockchain broken at the periphery?

I have been pondering about end-to-end trust in a blockchain based system.

A crypto-currency blockchain has end-to-end trust as the value (crypto-currency in this case) is generated and consumed within the chain. There is no outside element.

But a non-crypto-currency blockchain will rely on an external party pushing value/information/knowledge into the chain as a fact. Let's take real estate as an example. You would generate some kind of hash from the details of a property and puts that hash into blockchain in order to track it. But what stops a party from putting hash for a non-existent property in the first place?

I may be missing something basic here but my head is going crazy as this is a very fundamental thing.

( 4 comments | 2 points | on HN )
Re:Ask HN: Isn't the trust model in blockchain broken at the... by dozzie on Friday January 19, 2018 @11:53AM (#16187655)
Congratulations, you have found the reason behind the things called "oracles".
Re:Ask HN: Isn't the trust model in blockchain broken at the... by sharemywin on Friday January 19, 2018 @01:42PM (#16188590)
and if you need more trust add more oracles. what makes you trust an oracle? reputation, competition, time...
Re:Ask HN: Isn't the trust model in blockchain broken at the... by suhaschatekar on Friday January 19, 2018 @06:03PM (#16190760)
Reputation and competition I understand. How does time help?
Re:Ask HN: Isn't the trust model in blockchain broken at the... by sharemywin on Monday January 22, 2018 @10:16PM (#16210679)
I guess by time I meant reputation transaction count.