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The Real Reason for Facebook’s New Cryptocurrency (must-read by Kevin Werbach, in the NYT)

“For all the controversies, Facebook’s profits remain strong and its user numbers remain steady. Yet it has lost something that in the long run is even more important: the trust of its community. Trust is the great enabler of human connections and commerce. It represents the willingness to believe in the good will, abilities and principles of another, despite uncertainty. No amount of pressure or bribery can cause someone to trust you. Facebook is smart enough to recognize that without the bond of trust, all relationships are merely contingent and transactional. Lack of trust creates a heavy debt that eventually comes due.

Read more: Opinion | The Real Reason for Facebook’s New Cryptocurrency 

*play the short video file on the header to get my take on this::)

 

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