Abstract
In recent years, disruptive technologies have advanced at a rapid pace. These new developments have the power to accelerate the production and delivery, improve the quality, and reduce the costs of goods and services, as well as to contribute to individual and collective well-being. However, their adoption relies largely on user trust. And trust, due to its dynamic nature, is fragile. Therefore, just as important as to build trust is to maintain it. To build sustainable trust it is fundamental to understand the composition of trust relations and what factors can influence them. To address this issue, in this paper, we provide ontological foundations for trust dynamics. We extend our previous work, the Reference Ontology of Trust (ROT), to clarify and provide a deeper account of some building blocks of trust as well as the many factors that can influence trust relations. We illustrate the working of ROT by applying it to a real case study concerning citizens’ trust in central bank digital currency ecosystems, which has been conducted in close collaboration with a national central bank.
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Notes
- 1.
The complete version of ROT in OntoUML and its implementation in OWL are available at http://purl.org/krdb-core/trust-ontology.
- 2.
- 3.
Briefly speaking, a relator (a concept from UFO) is an entity that is existentially dependent on at least two individuals, thus, mediating or binding them [14].
- 4.
Playing of the “role” of Trustworthiness Evidence for a particular focal disposition is dependent on the belief of trustors, whose propositional content makes that connection between that player and that disposition. The is about relation in this model is, thus, derived from the propositional content of that belief. The refers to relation connected to the trustee is derived from the relation between that focal disposition and its bearer.
- 5.
AgustĂn Carstens, the General Manager of the Bank for International Settlements, in a recent speech at the Goethe University’s ILF conference on “Data, Digitalization, the New Finance and Central Bank Digital Currencies: The Future of Banking and Money” explicitly defended that “the soul of money is trust.” (https://www.bis.org/speeches/sp220118.htm).
- 6.
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Acknowledgments
CAPES (PhD grant# 88881.173022/2018-01) and NeXON project (UNIBZ). The authors would like to thank the Central Bank for their time and support.
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Amaral, G., Prince Sales, T., Guizzardi, G. (2022). Ontological Foundations for Trust Dynamics: The Case of Central Bank Digital Currency Ecosystems. In: Guizzardi, R., Ralyté, J., Franch, X. (eds) Research Challenges in Information Science. RCIS 2022. Lecture Notes in Business Information Processing, vol 446. Springer, Cham. https://doi.org/10.1007/978-3-031-05760-1_21
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