In a May 20 speech at TEDxPotomac, Craig Newmark, founder of Craigslist, asked the audience if, in this age of technology, 2010 is the new 1517?

Newmark referenced the work of Martin Luther, and how he sparked the Protestant Reformation by taking the power away from the “elites,” which forced the powerful institution that was the church to lose control of their message, which directly led to the creation of multiple rival churches.

He says this the role social media is playing in 2010. “When you connect people, you give away power, lose control,” said Newmark who also noted that by engaging and sharing in this way, you build a culture of trust—a ‘treat others as you want to be treated’ style of engagement.

“People will work with each other if they have trust,” he added. “In social media, trust is the new black.”

Is the current political system undergoing its own reformation period?

From the campaign trail to the Office of Public Engagement, President Obama has tried to find ways to use technology to bridge the communication divide between citizens and the government. Now, elected officials on both sides of the political spectrum are utilizing Web 2.0 technologies such as Twitter and Facebook to communicate with constituents.

By using these tools to allow individuals to contact their representatives, voice political opinions, advocate on issues, and participate in elections, government influence is becoming decentralized, putting more ownership and influence over public decisions into the hands of the citizens.

Recent Pew Research studies have found technology-native Millennials have more trust in government than all other generations and are more likely to identify as independent.

"It gives you hope, and that hope turns into trust in the government, because you believe that things can change — or like good things can happen," said college student Brittany Tucker to NPR of her political involvement.

What do you think? If Newmark is right and trust is the currency driving social media, can these technologies be credited (at least in part) with cultivating young people’s trust in government?