Unblocked

Chapter 7. DEEPER TRANSPARENCY

The currency of the new economy is trust.

Rachel Botsman

Summary

Leaders will actively leverage blockchain-driven transparency to demonstrate adherence to corporate values and as a marketing tool. This will set new standards for transparency—and ultimately an expectation for it.

Blockchain technology has the potential to immutably track and make transparent many parts of a business. Leaders will actively leverage this functionality to demonstrate that they stand by their values and that their products are verifiable and compliant.

This will set new standards for transparency—and ultimately an expectation for it, creating pressure for other businesses to follow along. Customers’ definition of quality will expand beyond the immediate characteristics of the good consumed or the service rendered to include a judgment on its creator, provenance, and journey into their hands.

Leaders will carefully craft and actively market their transparency story. While not all consumers will choose to inform their brand and buying decisions with this new information, others will increasingly demand it. Over time it could build to become a force, and businesses that don’t offer transparency would ultimately be punished in the market.

The Setting

Seeking Assurance in a Complex World

We are asking tough questions of our brands. We want to know where our goods come from, what they are made of, and who made them. We increasingly expect the companies we buy from to ...