The Trust Problem

Impacting the entire Future of Work Debate

The Global Financial Crisis (GFC) sparked widespread scepticism about the real benefits of the much touted globalization process. While several economies are still recovering from the shock and consequences of the GFC, the ensuing decline of trust in government, business communities, banking, and even the future of money has accelerated dramatically. The job creation crisis and the high failure rates of SMEs, sole practitioners, and independent contractors around the world pose profound challenges to the entrepreneurial plans and programs being pursued by policy makers.

World leaders agree that trust is the glue that holds their economies and societies together. Indeed, it is the essential ingredient for achieving sustainable growth in the international economy. The Global Trust Registry (GTR) has the mission to help raise the profile of trustworthy Small and Medium Enterprises (SMEs) on a global scale through a unique trust score, backed by a suite of business and financial services tailored to their needs through effective collaboration with Cities and trusted service providers.

The Global Trust Registry: The Trust Solution

Working for Cities, Entrepreneurs and Business

International organizations such as the G20, B20, OECD, BIAC, among many others, have highlighted the role trust must play to address the jobs crisis and the sluggish global economic recovery. Recent meetings at the World Economic Forum (WEF), the United Nations and the G7 have enshrined the critical importance of small business capacity solutions where trust and collaboration constitute the building blocks for the development of innovative services in the digital economy.

Working in conjunction with Cities, the Global Trust Registry seeks to mitigate failure rates and stimulate growth by furnishing valuable and trusted business resources on a shared services platform thus generating opportunities for SMEs. These groups of enterprises employ most of the global workforce and are estimated to number around 200 million worldwide.

The GTR team has designed a well-defined solution to the trust issue – a platform that revolutionizes thinking about collaboration and the way SMEs can contribute to global value chains in a city-centric digital world. SMEs thus become highly valuable in their own right to the Future of Work ecosystem. The GTR can effectively change business behaviour and promote a Trust Movement grounded on security, transparency, trustworthiness, and collaboration between cities and their business communities.

The Opportunity and its Impact

Practical, Needed and Scalable

The GTR provides a unique and innovative platform where Cities become centers of distributed-trust while promoting and growing a global network that positions them to cope better with the emerging social, economic and digital business realities. The platform will encourage entrepreneurial and SME growth worldwide through the network of interconnected cities. The GTR makes accessible highly valued and trusted business solutions at shared-services pricing in more than a thousand cities that are the main engine for the world’s GDP growth.

Cities and their SME communities provide the largest scalability potential for the GTR-business model as AI and new sophisticated data and people analytics enhance other trusted resource and service providers.

Investing in the Future

Supporting Cities Creative Growth

The GTR promises to be a significant new development in business and financial services for the digital age. The climate for such an initiative first springed in 2015 when trust, integrity and employment became global agenda priorities.

At a later stage, the GTR will expand its range of business and financial services, complement existing initiatives and establish the worlds first city based fund of funds to enhance capacity building for the entrepreneurs who will shape our future economies.

Utilizing AI, Machine Learning, and Blockchain technology, this ambitious yet critically needed digital initiative will roll out an innovative set of business models through action on the ground at the local level bringing global best practices to the forefront.

It is envisioned that the GTR will help entrepreneurs and SMEs play an expanded role in the economy by fully recognizing that cities, as the core hubs of the global network, are best suited to foster job creation and inclusive growth. The GTR is the right opportunity – right now.