Ontological Foundations for Trust Dynamics: The Case of Central Bank Digital Currency Ecosystems

Glenda Amaral; Tiago Prince Sales; Giancarlo Guizzardi

doi:10.1007/978-3-031-05760-1_21

Ontological Foundations for Trust Dynamics: The Case of Central Bank Digital Currency Ecosystems

Glenda Amaral^*
, Tiago Prince Sales
, Giancarlo Guizzardi

^*Corresponding author for this work

Semantics, Cybersecurity & Services

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

5 Citations (Scopus)

260 Downloads (Pure)

Abstract

In recent years, disruptive technologies have advanced at a rapid pace. These new developments have the power to accelerate the production and delivery, improve the quality, and reduce the costs of goods and services, as well as to contribute to individual and collective well-being. However, their adoption relies largely on user trust. And trust, due to its dynamic nature, is fragile. Therefore, just as important as to build trust is to maintain it. To build sustainable trust it is fundamental to understand the composition of trust relations and what factors can influence them. To address this issue, in this paper, we provide ontological foundations for trust dynamics. We extend our previous work, the Reference Ontology of Trust (ROT), to clarify and provide a deeper account of some building blocks of trust as well as the many factors that can influence trust relations. We illustrate the working of ROT by applying it to a real case study concerning citizens’ trust in central bank digital currency ecosystems, which has been conducted in close collaboration with a national central bank.

Original language	English
Title of host publication	Research Challenges in Information Science
Subtitle of host publication	16th International Conference, RCIS 2022, Barcelona, Spain, May 17-20, 2022, Proceedings
Editors	Renata S. S. Guizzardi, Jolita Ralyté, Xavier Franch
Publisher	Springer
Pages	354-371
Number of pages	18
Volume	446
ISBN (Electronic)	978-3-031-05760-1
ISBN (Print)	978-3-031-05759-5
DOIs	https://doi.org/10.1007/978-3-031-05760-1_21
Publication status	Published - 2022
Event	16th International Conference on Research Challenges in Information Science, RCIS 2022 - Barcelona, Spain Duration: 17 May 2022 → 20 May 2022 Conference number: 16

Publication series

Name	Lecture Notes in Business Information Processing
Publisher	Springer
Volume	446
ISSN (Print)	1865-1348
ISSN (Electronic)	1865-1356

Conference

Conference	16th International Conference on Research Challenges in Information Science, RCIS 2022
Abbreviated title	RCIS 2022
Country/Territory	Spain
City	Barcelona
Period	17/05/22 → 20/05/22

Keywords

Trust dynamics
UFO
OntoUML
Central bank digital currency
2023 OA procedure

Access to Document

10.1007/978-3-031-05760-1_21

ArticleFinal published version, 2.13 MBLicence: Taverne

Cite this

Amaral, G., Sales, T. P., & Guizzardi, G. (2022). Ontological Foundations for Trust Dynamics: The Case of Central Bank Digital Currency Ecosystems. In R. S. S. Guizzardi, J. Ralyté, & X. Franch (Eds.), Research Challenges in Information Science: 16th International Conference, RCIS 2022, Barcelona, Spain, May 17-20, 2022, Proceedings (Vol. 446, pp. 354-371). (Lecture Notes in Business Information Processing; Vol. 446). Springer. https://doi.org/10.1007/978-3-031-05760-1_21

Amaral, Glenda ; Sales, Tiago Prince ; Guizzardi, Giancarlo. / Ontological Foundations for Trust Dynamics : The Case of Central Bank Digital Currency Ecosystems. Research Challenges in Information Science: 16th International Conference, RCIS 2022, Barcelona, Spain, May 17-20, 2022, Proceedings. editor / Renata S. S. Guizzardi ; Jolita Ralyté ; Xavier Franch. Vol. 446 Springer, 2022. pp. 354-371 (Lecture Notes in Business Information Processing).

@inproceedings{477b37e9eed04e719abc0c2311178ef1,

title = "Ontological Foundations for Trust Dynamics: The Case of Central Bank Digital Currency Ecosystems",

abstract = "In recent years, disruptive technologies have advanced at a rapid pace. These new developments have the power to accelerate the production and delivery, improve the quality, and reduce the costs of goods and services, as well as to contribute to individual and collective well-being. However, their adoption relies largely on user trust. And trust, due to its dynamic nature, is fragile. Therefore, just as important as to build trust is to maintain it. To build sustainable trust it is fundamental to understand the composition of trust relations and what factors can influence them. To address this issue, in this paper, we provide ontological foundations for trust dynamics. We extend our previous work, the Reference Ontology of Trust (ROT), to clarify and provide a deeper account of some building blocks of trust as well as the many factors that can influence trust relations. We illustrate the working of ROT by applying it to a real case study concerning citizens{\textquoteright} trust in central bank digital currency ecosystems, which has been conducted in close collaboration with a national central bank.",

keywords = "Trust dynamics, UFO, OntoUML, Central bank digital currency, 2023 OA procedure",

author = "Glenda Amaral and Sales, \{Tiago Prince\} and Giancarlo Guizzardi",

note = "1. The complete version of ROT in OntoUML and its implementation in OWL are available at http://purl.org/krdb-core/trust-ontology. 2. Emits is grounded on a communicative act of the trustee [16] and, hence, a historical relation in the sense of [14]. The propositional content of this act refers to a disposition, thus, grounding the (derived) refers to relation between the latter and Trust Calibration Signal. 3. Briefly speaking, a relator (a concept from UFO) is an entity that is existentially dependent on at least two individuals, thus, mediating or binding them [14]. 4. Playing of the “role” of Trustworthiness Evidence for a particular focal disposition is dependent on the belief of trustors, whose propositional content makes that connection between that player and that disposition. The is about relation in this model is, thus, derived from the propositional content of that belief. The refers to relation connected to the trustee is derived from the relation between that focal disposition and its bearer. 5. Agust{\'i}n Carstens, the General Manager of the Bank for International Settlements, in a recent speech at the Goethe University{\textquoteright}s ILF conference on “Data, Digitalization, the New Finance and Central Bank Digital Currencies: The Future of Banking and Money” explicitly defended that “the soul of money is trust.” (https://www.bis.org/speeches/sp220118.htm). 6. https://gdpr-info.eu/.; 16th International Conference on Research Challenges in Information Science, RCIS 2022, RCIS 2022 ; Conference date: 17-05-2022 Through 20-05-2022",

year = "2022",

doi = "10.1007/978-3-031-05760-1\_21",

language = "English",

isbn = "978-3-031-05759-5",

volume = "446",

series = "Lecture Notes in Business Information Processing",

publisher = "Springer",

pages = "354--371",

editor = "Guizzardi, \{Renata S. S.\} and Jolita Ralyt{\'e} and Xavier Franch",

booktitle = "Research Challenges in Information Science",

address = "Germany",

}

Amaral, G, Sales, TP & Guizzardi, G 2022, Ontological Foundations for Trust Dynamics: The Case of Central Bank Digital Currency Ecosystems. in RSS Guizzardi, J Ralyté & X Franch (eds), Research Challenges in Information Science: 16th International Conference, RCIS 2022, Barcelona, Spain, May 17-20, 2022, Proceedings. vol. 446, Lecture Notes in Business Information Processing, vol. 446, Springer, pp. 354-371, 16th International Conference on Research Challenges in Information Science, RCIS 2022, Barcelona, Spain, 17/05/22. https://doi.org/10.1007/978-3-031-05760-1_21

Ontological Foundations for Trust Dynamics: The Case of Central Bank Digital Currency Ecosystems. / Amaral, Glenda; Sales, Tiago Prince ; Guizzardi, Giancarlo.
Research Challenges in Information Science: 16th International Conference, RCIS 2022, Barcelona, Spain, May 17-20, 2022, Proceedings. ed. / Renata S. S. Guizzardi; Jolita Ralyté; Xavier Franch. Vol. 446 Springer, 2022. p. 354-371 (Lecture Notes in Business Information Processing; Vol. 446).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

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T1 - Ontological Foundations for Trust Dynamics

T2 - 16th International Conference on Research Challenges in Information Science, RCIS 2022

AU - Amaral, Glenda

AU - Sales, Tiago Prince

AU - Guizzardi, Giancarlo

N1 - Conference code: 16

PY - 2022

Y1 - 2022

N2 - In recent years, disruptive technologies have advanced at a rapid pace. These new developments have the power to accelerate the production and delivery, improve the quality, and reduce the costs of goods and services, as well as to contribute to individual and collective well-being. However, their adoption relies largely on user trust. And trust, due to its dynamic nature, is fragile. Therefore, just as important as to build trust is to maintain it. To build sustainable trust it is fundamental to understand the composition of trust relations and what factors can influence them. To address this issue, in this paper, we provide ontological foundations for trust dynamics. We extend our previous work, the Reference Ontology of Trust (ROT), to clarify and provide a deeper account of some building blocks of trust as well as the many factors that can influence trust relations. We illustrate the working of ROT by applying it to a real case study concerning citizens’ trust in central bank digital currency ecosystems, which has been conducted in close collaboration with a national central bank.

AB - In recent years, disruptive technologies have advanced at a rapid pace. These new developments have the power to accelerate the production and delivery, improve the quality, and reduce the costs of goods and services, as well as to contribute to individual and collective well-being. However, their adoption relies largely on user trust. And trust, due to its dynamic nature, is fragile. Therefore, just as important as to build trust is to maintain it. To build sustainable trust it is fundamental to understand the composition of trust relations and what factors can influence them. To address this issue, in this paper, we provide ontological foundations for trust dynamics. We extend our previous work, the Reference Ontology of Trust (ROT), to clarify and provide a deeper account of some building blocks of trust as well as the many factors that can influence trust relations. We illustrate the working of ROT by applying it to a real case study concerning citizens’ trust in central bank digital currency ecosystems, which has been conducted in close collaboration with a national central bank.

KW - Trust dynamics

KW - UFO

KW - OntoUML

KW - Central bank digital currency

KW - 2023 OA procedure

U2 - 10.1007/978-3-031-05760-1_21

DO - 10.1007/978-3-031-05760-1_21

M3 - Conference contribution

SN - 978-3-031-05759-5

VL - 446

T3 - Lecture Notes in Business Information Processing

SP - 354

EP - 371

BT - Research Challenges in Information Science

A2 - Guizzardi, Renata S. S.

A2 - Ralyté, Jolita

A2 - Franch, Xavier

PB - Springer

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ER -

Amaral G, Sales TP , Guizzardi G. Ontological Foundations for Trust Dynamics: The Case of Central Bank Digital Currency Ecosystems. In Guizzardi RSS, Ralyté J, Franch X, editors, Research Challenges in Information Science: 16th International Conference, RCIS 2022, Barcelona, Spain, May 17-20, 2022, Proceedings. Vol. 446. Springer. 2022. p. 354-371. (Lecture Notes in Business Information Processing). Epub 2022 May 14. doi: 10.1007/978-3-031-05760-1_21

Ontological Foundations for Trust Dynamics: The Case of Central Bank Digital Currency Ecosystems

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