The Currency of the New Economy is Trust

Rachel BotsmanThe currency of the new economy is trust

There’s been an explosion of collaborative consumption — web-powered sharing of cars, apartments, skills. Rachel Botsman explores the currency that makes systems like Airbnb and Taskrabbit work: trust, influence, and what she calls “reputation capital.”

Rachel Botsman is the co-author, with Roo Rogers, of the book What’s Mine Is Yours: The Rise of Collaborative Consumption, and she writes, consults and speaks on the power of collaboration and sharing through network technologies, and on how it will transform business, consumerism and the way we live. Her new work focuses on trust and reputation capital.

She is the founder of The Collaborative Lab, an innovation incubator that works with startups, big businesses and local governments to deliver innovative solutions based on the ideas of Collaborative Consumption. She has consulted to Fortune 500 companies and leading nonprofit organizations around the world on brand and innovation strategy, and was a former director at the William J. Clinton Foundation.

Botsman expands on her 2012 TEDTalk in this article for Wired UK >>

“They offer not just a prescription for parts of our ailing economy, but a new vision of what ʻconsumerismʼ can be: not just a form of slavery to objects, but a thing in itself positive, progressive and pleasure-giving.”

Adam Gopnick

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