Apart from that you don't want to have the volatility of most crypto to be a means of payment. "wait, my hard earned products are now worth 50 % less than an hour ago because some influencer in his basements mom did a rugpull?"
> For us, it’s much more important to have more traditional markers of trust, like approval from bank partners, billboards in major cities, TV and radio ads, and so on.
Realistically, there is not really any way to create trust other than telling people "we are trustworthy".
The risk is that if the company is found wanting in the trust department, all the previously built up trust evaporates in an instant, and it's nigh on impossible to regain.
So yes, I do think trust is a function of marketing budget.
Apart from that you don't want to have the volatility of most crypto to be a means of payment. "wait, my hard earned products are now worth 50 % less than an hour ago because some influencer in his basements mom did a rugpull?"
there are many coins that don't fit this description
> For us, it’s much more important to have more traditional markers of trust, like approval from bank partners, billboards in major cities, TV and radio ads, and so on.
Trust is a function of marketing budget now?
Realistically, there is not really any way to create trust other than telling people "we are trustworthy".
The risk is that if the company is found wanting in the trust department, all the previously built up trust evaporates in an instant, and it's nigh on impossible to regain.
So yes, I do think trust is a function of marketing budget.
> So yes, I do think trust is a function of marketing budget.
But also consistency and stability as the foundation of trust. Marketing is merely a means to transfer the message.
If you cannot show consistency and stability, no amount of marketing should give you trust.
Yes trust as in the emotion. The other side is trust as in honouring that trust, which needs culture, regulation etc.
Would you buy a car brand that has never been mentioned anywhere?
If you consider the US military budget to be part of the Dollar's marketing budget (I do), then this is spot on.
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