High-trust societies are self-regulating scammers paradises. Filled with people citing Occam's Razor, and affinity fraud. Even worse, for minorities the procedures never get dropped, but they're still expected (pressured) to drop procedures to fit in, so they end up highly unequal societies.
It’s particularly striking when I visit my parents’ house. I’m a millennial and I don’t even know my neighbors names and my parents, who are boomers, routinely talk, text and visit their neighbors. Their neighborhood (at least among the old people) feels like a community. Mine does not.
High trust communities need a lot of time to develop and a lot of annoying gossip and reputation stuff that can feel nosy. My grandparents were always keenly aware of "but what are they going to say?!", what will they think of the mother if this or that (if the child uses swear words, if people peek through the window and see a messy room, if there is weed in the garden, if a guest is not stuffed full with food, if the curtains are still closed at 7 am, indicating that they are lazy and sleeping in etc). They were always worried about optics and reputation. They were in turn always evaluating how everyone else lived and behaved, who helped and who didn't, who lives neatly and orderly, or who doesn't cook for his (edit: her) husband properly, or which man is a drunkard or gambler, who shows up to church and who doesn't etc. This is suffocating but necessary for the kind of reputation that prevents antisocial behavior.
Of course that's the other extreme, but the point is, you need 10+ years of living together and interacting, helping out in renovations, knowing the families, regularly sharing dinner etc to get it going. People move too often nowadays for this to be viable. And of course having to stay put has disadvantages for efficiency and adaptability, there's a reason why people are moving around.
At least they were forward-looking on social issues.
Technically, we can read the banks' financial reports, the executives' background checks, the video recordings of their gold reserves... to decide which banks are less likely to run away with your money. But no one wants to live in such a place.
It's like the blockchain people trying to push blockchain for inventory management.