October 20198 Trust is the genesis of our beliefs as they relate to spirituality, society, culture, economies and technologies. The conditions upon which we trust people, ideas and platforms ­ What I refer to as `the trust trinity' ­ have profoundly shifted away from a hierarchical based vertical model, concentrated in the hands of institutions in which we have lost faith in, in favour of a democratised horizontal based model that distributes trust among communities at global scale, real-time speed with symmetrical impact. It is the `renewable energy' of our digital society, culture, economies and the technologies that are intertwined in the way we live, work and play. In 2017, trust in four key institutions ­ business, government, NGOs and media ­ has declined and hit a global crisis point. The 2017 Edelman Trust Barometer across 28 countries found that the majority of the 33,000+ respondents (53 per cent) now don't believe the system is working for them, is unfair, and offers little hope for the future. Only 15 per cent believe it is working, with the rest uncertain. Without trust, belief in the system fails. People's societal and economic concerns, globalisation, the pace of innovation and eroding social values are creating fears across the world. When it comes to the impact that this erosion of trust has had on our digital lives, all the signposts point to the same direction ­ crisis. Whether it is cyber-attacks or economic loss, all the indicators lead us to the same conclusion. That is, like the Edelman study reflects, our digital lives are also at the same inflection point. The impact of these ever increasing reports of widespread data breaches on people across all aspects of their lives, and their digital lives, serve to further erode the trust in the institutions that are the custodians of their personal information. What impact does this have on reputation?So, in the past garnering your trust to recommend became the Net Promoter Score (NPS) logic to support the measures claims of its predictive capacity. However, technology platforms have extended our circle of trust globally to much broader networks, beyond friend and family, to now include strangers or `likes' and reviews. People we don't know, yet we rely on their independent reviews, or ratings to make decisions. We make these decisions routinely such as reviews on travel destinations, accommodation on Airbnb, Uber rides, news, goods and services. What other people INTERCONNECTED TRUST ­ THE DIGITAL ECONOMY'S RENEWABLE ENERGY BY ROCKY SCOPELLITI, DIRECTOR AT OPTUS FUTUROLOGIST & AUTHOR, YOUTHQUAKE 4.0IN MYV EW
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