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

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

#1
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.

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

#4
post #2

Congratulations, you have found the reason behind the things called "oracles".

and if you need more trust add more oracles. what makes you trust an oracle? reputation, competition, time...

Reputation and competition I understand. How does time help?

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

#5

Earlier quoted context omitted.

and if you need more trust add more oracles. what makes you trust an oracle? reputation, competition, time...

Reputation and competition I understand. How does time help?

I guess by time I meant reputation transaction count.