Rachel Botsman advocated the advantage of reputation capital at Wired Money in London yesterday. She noted that an economy based on reputation is incredibly empowering, and will take us away from a financial world “based largely on faceless transactions and moving us to an age built on humanness that we [have] lost.” The reputation economy has already begun to take effect—Airbnb user Kate Kendall used Airbnb reviews to secure an apartment lease.
A reputation-based system will take time to establish, but has the potential to revolutionize the financial sector. This type of credibility adds “context, cause and character” to currently anonymous transactions. “How we treat people and how we behave will ultimately drive our world,” Botsman says.
Get the full recap on Wired.