The Importance of Trust in a Digital Europe: Reflections on the Sharing Economy and Blockchains

For Teigland, Holmberg and Felländer, the sharing economy offers people new opportunities for value creation in the European Union. With the help of digital platforms, participants in the sharing economy may cut out traditional intermediaries resulting in a cheaper exchange of goods and services. However, a vacuum of responsibility arises in the wake of digitalization, eroding provisions of labor and consumer law. Creating trust in the digital environment is a huge challenge for the sharing economy. The Union can engage more intensively in the digitalization of European societies by promoting economic growth and enhancing the capacity for innovation. The authors consider it essential to develop a ‘digital presence’ to prevent the European perspective on democracy and freedom of expression losing out to global actors.