Understanding how Satoshi Nakamoto solved the trust issues in traditional systems: By replacing specific trusted organizational alliances with an abstract longest chain formed through a borderless peer-to-peer network, decentralized trust is achieved. **Transfer business:** Transactions guaranteed by the trust of the longest chain. **Coinbase business:** Equity incentives of the $BTC longest chain. Compared to traditional trust structures, the longest chain is: Transparent, borderless, and composed of the entire peer-to-peer network as a whole. Traditional trust structures, on the other hand, are either: - Power-based organizational alliances (e.g., alliances of nation-states), or - Wealth-based organizational alliances (e.g., trust structures formed by staked nodes in POS systems, or corporate board structures). Traditional trust structures always remain within the privileged class created by organizational hierarchies, whereas the trust of the longest chain comes from all individuals organized in a borderless, peer-to-peer manner. Traditional trust organizations are bounded and often vulnerable to trust issues caused by collusion or absence of certain privileged members, such as Byzantine attacks or node downtime in BFT POS validator networks. In contrast, the longest chain trust model is borderless and peer-to-peer. The failure of any mining node does not affect the network. A borderless peer-to-peer network cannot conspire, as everyone has the right to vote for the correct network.