Trust – Oil of the Future

Outlining the big picture.

Lack of Trust

One of the fundamental problems in society today is the lack of trust. Surveys, for example Edelman Trust Barometer, indicate we are rapidly losing trust in traditional institutions. Businesses and governments are especially affected. The cost of low trust is high. You will need written agreements, a lot of bureaucracy, a lot of extra costs. In business, for example, you will tend to consider your business relations as enemies – as adversaries.

At the same time as trust in institutions is fading, a shift is already underway - from the 20th century defined by 'institutional trust' towards the 21st century that will be defined by 'distributed trust'. This shift is made possible by new technology platforms which are significantly reducing the cost of building and running business at scale. The collaborative economy, for example, has turned trust into a commercial currency and triggered a new way of doing business driven by the reputation of not only but brands, but also consumers.

Trust Technologies

Technology is creating new mechanisms that are enabling us to trust unknown people, companies and ideas and as the number of digital technologies has grown so too has the number of tools that can be used for building trust in collaborative environments. Encouragingly, this growth has carried over to organizations with environmental and social goals as well. A recent study by the innovation charity Nesta has identified nearly 1,000 organizations (and nearly 700 collaborative projects) working in the field of “digital social innovation” across Europe. Here you will find compelling examples of how global problems such as climate change, conflict, social integration, economic inequality, health problems or disease epidemics are solved by new businesses, partnerships and innovative ideas. 

Investing and doing business for good at Technoport

During the session at “Trust session” at Technoport attendees will get to meet people at the frontline working with Trust Technologies and Impact Investing. A common denominator is the triple bottom line focus. That means that actors attending are committed to creating impact, not only economically, but as important, environmentally and socially. The session will open with an “Impact Investing Breakfast” hosted in co-operation with Nordic Impact. Nordic Impact is an impact investing fund based in Oslo with the intention to invest in early stage impact tech businesses. Hivos Impact Investments from the Netherlands will follow up and share their exciting story about investing for good.

From a business perspective you will hear success stories, such as the electric car startup, Uniti from Sweden, which exceeded their equity crowdfunding target within 36 hours. Other exciting businesses are AIM Sweden, Arcam and Nordic Health Innovation which are all democratizing the industrial production by additive manufacturing and digital health. Making the Impossible Possible.

Finally, you will also meet Nassima from Interbridge who aims to build Trust among youth by understanding each other’s differences and celebrating our commonalities. That is in high need in a fractured world.

See you there!

Guest writer: Bert-Ola Bergstrand

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