Over the next two years, enterprises are expected to ramp up their efforts to test blockchain technology as part of a new method of establishing trust in a economy.

New research from consultancy Deloitte LLP shows a 20;trust economy21; is now developing around person-to-person (P2P) transactions enabled by blockchain technology and not dependent on more traditional methods such as credit ratings or guaranteed cashier17;s checks.

“Rather, it relies on each transacting party’s reputation and digital identity – the elements of which may soon be stored and managed in a blockchain,” Deloitte analysts said in a report.

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