Information leakage, big data killing, algorithmic discrimination ...... How can we build digital trust?

In recent years, the digital economy has continued to grow at a higher rate, and has gradually become an important driving force for economic quality and efficiency. E-commerce, online education, mobile payment and so on have long been with you and me. At the same time, digital governance challenges such as platform monopolization, big data kills, fake and shoddy goods, algorithmic discrimination, and brushing and speculation have also been exposed to the public. Against this background, the importance of trust in the digital era has become increasingly prominent. What is digital trust? How to build digital trust and promote the healthy development of China's digital economy? Let's look at it together.

What is digital trust?

In the previous agricultural and industrial economy, social trust is mainly maintained by interpersonal trust and institutional trust, while the trust relationship in the digital economy is digital trust. Based on the perspective of the development of digital economy and digital society, digital trust is a new type of trust relationship of two-way interaction between individuals, enterprises and governments in digital space based on digital technology to establish digital identity, which is the expansion of interpersonal trust and institutional trust, and the inevitable requirement for the circulation of credible data. Users are connected to network devices through digital identity, and the data integrity and privacy of all communication, socialization, transaction, search, entertainment and other activities in digital space must be effectively protected and managed. Digital trust builds relationships of trust between people and machines, technologies and platforms, and machines and machines. People believe that hardware, software, and platforms in the digital space are reliable, secure, and efficient, and platforms gain users' trust by demonstrating to them that they can ensure the security, privacy, reliability, and data ethics of an online program or device.

Digital trust revolutionizes the creation and maintenance of trust relationships, integrating interpersonal, institutional, and technological trust into a single entity, and is a way for governments, individuals, businesses, and machines to have confidence in the ability to protect data and personal privacy, and in the level of cybersecurity protection that underpins all of the requirements of the social activities of the digital economy, and is a more advanced form.

What is the value of digital trust?

Digital trust is the foundation for development and innovation in the digital economy. Digital trust in the era of the digital economy is the fundamental trust of individuals and organizations to participate in economic transactions, and the economic function of trust will be amplified.In May 2019, Nobel Prize-winning economist Paul Romer pointed out in his speech, "Insights into the Development of the Global Digital Economy", that trust is just as important as the establishment of rules in the development of digital platforms. Data is a key core element of the digital economy, digital trust helps solve data governance and security issues, promotes the formation of the data factor market, supports the market-oriented allocation of data, and promotes the development of the digital economy. Constructing a stable digital trust relationship between government-users-platforms-enterprises, and effectively managing digital governance issues such as platform monopoly, big data kills, fake and shoddy commodities, algorithmic discrimination, single-sheet speculation, and so on, will promote China's digital economy. The new system will promote the development of China's digital economy into a state of healthy competition and healthy development.

Digital trust saves transaction costs for economic operations.

In the early stages of China's e-commerce development, we were faced with the problem of trust on the Internet. In the absence of credit protection or legal support, third-party payment platforms provide payment protection for both sides of the transaction, solving the problem of trust between merchants and consumers and facilitating the smooth completion of transactions. During the development of the digital economy, there are more and more issues like solving the problem of mistrust between buyers and sellers. The establishment of digital trust relationships between the government/public **** department - enterprises/other organizations, the government/public **** department - natural persons, enterprises/other organizations - individual users, human-computer interactions and machine interactions will greatly reduce the transaction costs of economic activities, and can effectively avoid falling into the so-called North-type low-trust poverty trap - "The inability to make contracts effective and cost-efficient is the most important reason for the historical stagnation of development and the underdevelopment of today's Third World countries."