In Bitcoin We Trust

The history of American currency provides a good demonstration of how trust relates to branding. After the Revolutionary War, when paper money was reduced to a fortieth of its previous value, gold and silver were the only types of currency people could trust. It was nearly a hundred years before people were willing to accept Silver Certificates as a substitute for the real thing, even though the new bills were backed by metal reserves. It took another hundred years before we were ready to accept Federal Reserve Notes as a substitute for Silver Certificates. These weren't backed by reserves at all, but by pure faith in the brand called America. Now we've learned to trust in a system of credit cards for a large percentage of our transactions. Will we soon be ready to accept international cyber-currency as an improvement on credit cards? Sure, if we can trust it.

Trust creation is a fundamental goal of brand design. The complex flourishes and intricate images employed in the design of the Silver Certificate were no accident—they were conscious attempts to encourage trust in what was little more than a symbol for money.
The concept of trust is equally important when we trade our currency—whether metal, paper, plastic, or cyber—for goods and services. Trust is the ultimate shortcut to a buying decision, and the bedrock of modern branding.

The Evolution of Currency Mirrors the Evolution of Trust.

From “The Brand Gap” by Marty Neumeier. Props to @`Eric FJ`for the original post!

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