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TED Rachel Botsman: The currency of the new economy is trust


TED: Rachel Botsman: The currency of the new economy is trust

Reputation is the measurement of how much a network trusts you. As the reputation goes up the more tasks you get and the more you can charge. As we move digitally we leave a reputation trail.

Let's make our reputation travel with us from site to site. But one score is not nuanced enough to really reflect us.

Influence is not the same as reputation - that people like us does not reflect on whether or not we can do tasks. So how do we collect reputation data.

Realtime stream of who has trusted me or responded to a task I have done. My reputation capital dashboard will be checked by others, like Linkedin. TrustCloud, ConnectMe. Your intentions, capabilities and values. It can create an influence positive disruption in who has power, influence and trust, taking power from the current powerholders. We are limited because our reputation currently cannot be measured or seen in relation to the celebrity power holders. Makes collaborative consumption work, the pacmen have the consumption now.

Privacy issues - if we can collect our data we can control it more if we know what our stream is.

Digital ghosts - trustworthy people who don't have a digital trail.

Making the CV look like a relic of the past. StackOverflow is a programmer networking platform. Knowledge and expertise are currency and go onto resumés with lists of unique knowledge. Having a high reputation unlocks a sense of their own power. The space gives people the ability to rise to the top honestly.

The collaborative revolution will be as powerful as the industrial revolution. Wealth will look different under the collaborative revolution
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