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What is Cognitive-Based Trust

Chapter 13
Blockchain Applications in Cryptocurrency for Technological Evolution
It refers to the idea that when an individual has no prior information about something, he will develop his trust based on information available in the environment.
Published in Chapter:
Reflection on the Latent Role of Institutional Trust for the Adoption of Cryptocurrencies: Cases on Bitcoin, JP Morgan Coin, Diem, and Japanese Listed Cryptocurrencies
Youssef Elhaoussine (Beijing Normal University-Hong Kong Baptist University United International College, China), Yihao Ma (Beijing Normal University-Hong Kong Baptist University United International College, China), and Yuhan Hu (Beijing Normal University-Hong Kong Baptist University United International College, China)
Copyright: © 2023 |Pages: 13
DOI: 10.4018/978-1-6684-6247-8.ch013
Abstract
Cryptocurrencies emerged with Bitcoin as a decentralized currency bringing freedom from institutions as well as uncertainty. Since then, lots of new cryptocurrencies have emerged. However, their diffusion among investors or among users as payment methods has been uneven. Several reasons could explain this discrepancy. This chapter will focus on the role of institutional base trust and present the potential role of four different institutions behind cryptocurrencies. To do so, it will describe four types of cryptocurrencies: Bitcoin as an independent cryptocurrency, JP Morgan Coin as a cryptocurrency backed by a reputable investment bank, Diem as a cryptocurrency managed by a famous brand, and Japanese-listed cryptocurrencies.
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