Trust platforms: The digitalization of corporate governance and the transformation of trust in polycentric space

Abstract

AbstractThis contribution considers the revolution in the concept and practice of trust in corporate governance that first moved from trust in “people” to trust in “compliance,” setting the stage for the digitization of trust measures and the digitalization of compliance. Part One examines the fundamental challenge, one that arises from the near simultaneous shift in cultural expectations about trust from trust in character to trust in measurement, and then the rise of cultures of data driven systems of compliance and accountability. Part Two then considers the transformation brought by challenge responses in the form of three closely interlinked impulses: digitization, digitalization of compliance‐accountability regimes, and the emergence of platforms as spaces for trust interactions among stakeholders. Part Three then examines the current shape of these iterative dialectics, including connections between platforms and polycentric trust governance, and the detachment of trust from the entity that is its subject.