Not so trustless after all: Trust in Web3 technology and opportunities for brands

【Author】 Ferraro, Carla; Wheeler, Melissa A.; Pallant, Jason I.; Wilson, Samuel G.; Oldmeadow, Julian

【Source】BUSINESS HORIZONS

【影响因子】10.562

【Abstract】Web3 technology is described as trustless in that interactions and transactions do not require trusted third parties and instead rely on smart contracts and the immutability of the decentralized blockchain. Thus, in contrast to earlier iterations of the web, Web3 users are asked to trust the technology itself rather than the human intermediaries. On its face, this shift to a trustless web calls into question the traditional conceptions of and requirements for trust. However, in this article, we caution against claims that advocate distrusting Web3 on the basis that, despite how quickly Web3 technology is advancing, the psychological processes through which people perceive and make sense of the social world remain fundamentally unchanged. Drawing on the psychology of trust and the evolution of web technologies and associated objects of trust, we argue that Web3 is not so trustless after all. We also highlight opportunities for brands to build trust in Web3 technology, including key considerations in leveraging opportunities and directions for further research. Overall, this article provides critical guidance to brand managers, policy advisors, and academics seeking to understand, build, and trust Web3 technology.& COPY; 2023 Kelley School of Business, Indiana University. Published by Elsevier Inc. All rights reserved.

【Keywords】Digital trust; Web3; Brand opportunities; Trust

【发表时间】2023 SEP-OCT

【收录时间】2023-09-19

【文献类型】观点阐述

【主题类别】

区块链应用-虚拟经济-Web3