Copyright Copyright © 2017 by Rachel Botsman Hachette Book Group supports the right to free expression and the value of copyright. The purpose of copyright is to encourage writers and artists to produce the creative works that enrich our culture. The scanning, uploading, and distribution of this book without permission is a theft of the author’s intellectual property. If you would like permission to use material from the book (other than for review purposes), please contact [email protected]. Thank you for your support of the author’s rights. PublicAffairs Hachette Book Group 1290 Avenue of the Americas, New York, NY 10104 www.publicaffairsbooks.com @Public_Affairs Originally published in hardcover and ebook by Portfolio Penguin in October 2017 First Edition: November 2017 Published by PublicAffairs, an imprint of Perseus Books, LLC, a subsidiary of Hachette Book Group, Inc. The Hachette Speakers Bureau provides a wide range of authors for speaking events. To find out more, go to www.hachettespeakersbureau.com or call (866) 376-6591. The publisher is not responsible for websites (or their content) that are not owned by the publisher. Illustrations by Team (www.team.design) Library of Congress Control Number: 2017949042 2017949042 ISBNs: 978-1-5417-7367-7 (hardcover), 978-1-5417-7368-4 (ebook) E3- 20171012-JV-PC Contents Cover Title Page Copyright Dedication Epigraph Who Can You Trust? Evolution of Trust Introduction 1. Trust Leaps From eleventh-century traders to Alibaba: how trust works to cross barriers, calm fears and revolutionize what’s possible. 2. Losing Faith Behind the devastating crisis in institutional trust–and why we’re now more likely to ‘phone a friend’. 3. Strangely Familiar From sushi to self-driving cars–some surprising lessons in persuading people to trust new ideas. 4. Where Does the Buck Stop? When trust crashes in the ‘self-managed’ digital world, who’s accountable? 5. But She Looked the Part A cautionary tale about deceptive appearances, and the technology that could unmask fakers and frauds. 6. Reputation is Everything, Even in the Dark What drug dealers on the darknet can teach us about great customer service. 7. Rated: Would Your Life Get a Good Trust Score? When dystopian sci-fi turns into a reality and every little move you make is ranked, who wins and who loses? 8. In Bots We Trust But should we… and how do we make them ethical? 9. Blockchain Part I: The Digital Gold Rush From fei to bitcoin, the long road to setting money free. What will it mean for the City? 10. Blockchain Part II: The Truth Machine The golden promises of the blockchain: over-hyped or the trustworthy key to our digital future? Conclusion Acknowledgements About the Author Glossary of ‘Trust’ Terms Notes and Further Reading Index In memory of Pamela Hartigan, my friend and mentor. What is trust? A confident relationship with the unknown. Who Can You Trust? ‘In this extremely thought-provoking new book, Rachel Botsman educates and entertains as she reveals with expertise how our lives are already changing more than we know. A must-read for anyone interested in how the world works–and will work in the future’ Will Dean, MBE, CEO, Tough Mudder ‘Not only is the thesis completely compelling. It demonstrates, through a sequence of real-world case studies of projects, businesses and platforms, that the distributed trust model offers enormous promise if used wisely–as well as enormous pitfalls if used unwisely. For good and sometimes ill, it has the potential to reshape everything we do, from our choice of babysitter to our choice of money. These are important messages from what is an important book’ Andy Haldane, Chief Economist, Bank of England ‘A fascinating and well-researched study. Every reader will gain new insights into one of the great issues of our time: the shifting tides of trust’ Geoff Mulgan, CBE, Chief Executive of the National Endowment for Science Technology and the Arts (Nesta) ‘Profound insights about how the digital age changes trust, wrapped in a compelling narrative of captivating and revealing stories. A rare book that will cause you to think deeply about your business, your relationships and your life’ Don Tapscott, bestselling author of Wikinomics and Blockchain Revolution ‘This book perfectly walks the reader through the past, present and future of trust as we know it. Rachel’s expertise on this topic is unmatched. It’s an absolute must-read for business leaders and everyday consumers alike’ Nick Shapiro, Global Head of Trust and Risk Management, Airbnb ‘This is that admirable and all-too-rare book that gives you “an idea to think with” that helps to put new things in place. Who Can You Trust? is a primer for a new world that sets you up to be a better citizen, consumer and parent. I quickly learned so much about so many things I wanted to know’ Professor Sherry Turkle, author of Reclaiming Conversation and Alone Together
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