The Trust Economy: How digital technology is transforming trust and creating social and business innovation
By : Kelly Cho
If you are in any way familiar with business building, then you have probably asked or been asked: What is the core of your business? How do you differentiate yourself from competitors? What value does this product provide? Now, would you believe it if someone told you that there’s one answer to all these questions? Philipp Kristian Diekhöner, a Singapore-based entrepreneur and emerging innovation pioneer, addresses your concerns with his thesis that effectively examines the dimensions of trust in business.
The Trust Economy begins with The Trust Renaissance, which provides an overview of the trust revolution enabled by digital transformation, touches on the author’s definitions, and lays the foundation for further discussion. The Trust Sequence explains the idea of trust as a two-way street and elaborates on Diekhöner’s world-first model, or six progressive stages for effective trust-building. The Trust Advantage continues to explore the profound impact of trust with insightful investigations using real-life examples. The “Why is it easier to trust startups?” chapter is likely the most inspiring for entrepreneurs.
Though the book’s logical reasoning is clear, convincing, and well-supported with facts, The Trust Economy is not always an easy read. Not only does it cover a wide range of disciplines, including business, economics, and management, it also touches on topics such as sociology and philosophy. If you are looking for a book that is challenging, mind-blowing, and offers an ideological framework with feasible action points, then The Trust Economy will likely take you on a highly rewarding journey. –KC