Music sharing is a common social activity that people have long engaged in, from gifting mixtapes to sharing music links. Then, we discuss Distributed Ledger technologies whose secure transaction facilitating and privacy preserving techniques promise to be a good complement to the current limitations of vanilla reputation systems. We proceed to present various reputation systems, all of which present promising techniques for encouraging trustworthy behaviour. Next, we present the challenges that would have to be overcome in order to enable long term cooperation. In order to do so, we first motivate the decades-old problem of generating trust without an intermediary by discussing Robert Axelrod's research on the evolution of cooperation. This survey explores this elusive goal of Web3 to create a "Universal Trust Machine", which in a true decentralised paradigm would be owned by both nobody and everybody. They attempt to do so by creating an ecosystem of trust constructed using decentralised technology. While so far ecosystems of trust on the Internet could only be feasibly created by large institutions, Web3 proponents have a vision of the Internet where trust is generated without centralised actors. However, as recent events have shown, allowing for-profit corporations to act as gatekeepers to the online world comes with a litany of problems. Thus, they control who can interact and conduct transactions through their monopoly of online trust. Specifically in the case of the Internet, Big Tech companies maintain the largest Internet platforms where users can interact, transact and share information. To date, in modern societies, large scale trust is almost exclusively provided by large centralized institutions. Trust functions to reduce the effort spent in constantly monitoring others' actions in order to verify their assertions, thus facilitating cooperation by allowing groups to function with reduced complexity. Since the dawn of human civilization, trust has been the core challenge of social organization.
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