TEDTalks: Trust Me Season 1 Episode 4 Rachel Botsman: The Currency of the New Economy Is Trust

In episode 4 of season 1 of TEDTalks: Trust Me, Rachel Botsman delivers a thought-provoking talk on the concept of trust in the economy. Botsman argues that trust is the cornerstone of every transaction and interaction between individuals, and that in the current digital age, trust is more important than ever.

Botsman begins her talk by highlighting the changes in trust that have occurred in society. In the past, trust was often conveyed through personal relationships and face-to-face interactions. However, the advent of the internet and other technological innovations has led to a shift in the way that trust is established. Botsman contends that we are now in a world where reputation and trustworthiness are established through online interactions and social media.

Botsman goes on to suggest that this shift has led to the emergence of a new form of currency, one that is based on trust. Botsman refers to this as the "currency of the new economy," and argues that it is becoming increasingly important in the digital age. She presents several examples of how this currency of trust works in practice, including the sharing economy and peer-to-peer marketplaces.

Throughout her talk, Botsman highlights the role that technology plays in the establishment of trust, suggesting that it can be both a positive and a negative force. On the one hand, technology can facilitate a more seamless and efficient exchange of information, which can enhance the trustworthiness of parties involved in a transaction. On the other hand, technology can also be used to manipulate or deceive, which can erode trust.

Botsman also addresses the potential downsides of this shift towards a trust-based economy. She suggests that it is important to be mindful of the way in which trust is established, and to ensure that it is being built on a solid foundation of reputation and authenticity. She argues that there is a risk of becoming too reliant on technology in the establishment of trust, which could ultimately lead to a breakdown in trustworthiness.

Overall, Rachel Botsman's talk is a fascinating exploration of the role that trust plays in our economy and society more broadly. She raises important questions about the way that technology is shaping our interactions with others, and challenges us to think critically about the ways in which we establish trust in the digital age.