Still, this generalized lack of trust in government and high variance in trust across societies has many implications for politics and commerce. The PEW Centre also report that in the US, France and the UK, a majority of people desire a major change in their political system .
It suggests that in the democratic world , governments need to invest more in transparency, and in new ways of giving voice to their citizens – either at a local level or for example using social media to gather feedback. At an institutional level, many institutions are not at all well understood by the people they oversee, central banks being prime amongst them. One example I often flag is the EU, whose leaders now speak of ‘European values’ but who at the same time have not thought out what this means in a tangible sense to the diverse nationalities that make up the Union, and how in a pragmatic way, it might bring them closer together.
Relatedly, banking systems – which are in many cases too battered or too ill formed to be trusted – are being replaced by other more trustworthy brands. In Kenya for example, the mobile payments system MPensa is widely used and trusted, in part because it is operated by a brand that is trusted by Kenyans.
The idea of trust in the economy is a vast and complicated issue, my own preference is that we have governments and institutions we can trust and admire, but the reality is that there is little innovation and dynamism in today’s institutions. I suspect that instead, the next ten years will see a wave of entrepreneurship in money and democracy, some of it ugly and I hope, the sum of it constructive.
Bitcoin is Thriving that means ?
Nope!During the low trust in politics will rise the commodities but the 'things'.In addition to that the BTC is be on a hiding to nothing since such an organized crime country like El Salvador has decelerated it as a legal tender.
Bitcoin Best
Of course, less trust in government better for Bitcoin
Cardano
Forbes, politics on both sides disgust me. We need Love.
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