Trust and Distrust in Digital Economies

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Philippa Ryan
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Trust and Distrust in Digital Economies.pdf


In digital economies, the Internet enables the "platformisation" of everything. Big technology companies and mobile apps are running mega marketplaces, supported by seamless online payments systems. This rapidly expanding ecosystem is fueled by data. Meanwhile, perceptions of the global financial crisis, data breaches, disinformation and the manipulation of political sentiment have combined to create a modern trust crisis. A lack of trust constrains commerce, particularly in terms of consumer protection and investment. Big data, artificial intelligence, automated algorithms and blockchain technology offer new solutions and risks. Trust in our legal systems depends on certainty, consistency and enforceability of the law. However, regulatory and remedial gaps exist because the law has not kept up with technology. This work explores the role of competency and good faith, in the creation of social and legal relationships of trust; and the need for governance transparency and human accountability to combat distrust, particularly in digital economies.

About a fifth of adults (22% ... the propagation of trust, but do not extend to the case in which users may also express distrust. However, experience with real-world implemented trust systems such as Epinions and eBay suggests that distrust is at least as important as trust.

ISBN13: 9781138477483. Published: June 2019.