This is the first of what may be three or four articles on the subject. The key point in the this first post is this: "Trust is the mortal enemy of public blockchains." Or, to put the same point another way, the core message of blockchain technology is this: "distrust each other, the way I distrusted you." I would have though we had learned the limits of trust in this era of hack attacks, online scams and fake news, but maybe not. But more, even the tone of this article fails to inspire trust - the metaphors and imagery seem more appropriate to a junior year fraternity chat room that to a reasoned discussion of blockchain and academics.