Digital Word of Mouth: How Blockchain Reputation System Would Work
In a world dominated by government regulations, every aspect of life has an agency assigned to watch over its continuing success. Theft, fraud, and bankruptcy are all dealt with through the appropriate criminal and civil courts. Food and workplace safety have their respective permits and bureaucratic agencies watching over them, and the violent, substance abusers, and the criminally negligent have a court system to contend with. However, such antiquated structures still leave much to be desired, as they can imprison the innocent, neglect the guilty, and miss important information that is....
Related News
The World Table, a startup company in Orem, Utah, is building a quantified reputation system to aggregate reputation data and report trust scores for individuals and organizations. The system is built upon Open Reputation, an open source decentralized reputation platform under development, sponsored by The World Table, which maps identity and reputation onto the Internet-of-things (IoT). The Open Reputation concept is open and flexible, able to accommodate diverse applications and usage patterns, from user reputation and "karma" in online discussion spaces to automatic reputation-based....
Despite calls to adopt a decentralised reputation system on its platform, Bitsquare says it will not rely on it even though it is typically used to establish the trustworthiness of users in a network. Some Redditers, have asked for the system to be included as a feature on the platform. However, in a chat with CoinTelegraph, Mihail Mihaylov, Bitsquare’s Chief Decentralist, said the system could be used to defraud others. Mihaylov says: “For example, if Jane has a high reputation, it means a lot of users find her to be trustworthy. However, such systems can be manipulated to inflate the....
Another 85 years down the line, digital currency and Bitcoin may well be among the list of most important developments of the century. Bitcoin has already become a word of mouth. Almost everyone has heard of Bitcoin, some use it, some know about it and a majority have no clue as to what it is. The word Bitcoin became familiar after the Bitcoin price boom in 2013when the value of a bitcoin crossed the $1000 mark. Thanks to gravity, anything that goes up has to come down, and hence came down the bitcoin price (Yeah, I know it wasn't gravity that brought it down. But still...). People are....
Augur has launched the world's first decentralized prediction market that would be open to the general public. Prediction markets work on the idea that large groups of people are able to make much more accurate predictions than, small teams of experts. Augur enables participants in its prediction markets to now put their money where their mouth is. Participants back their beliefs by placing wagers on the outcomes of diverse events, that range on everything from politics, the economy and even the environment itself. The funds are stored securely on Augur's platform, and are accessible only....
Beyond Finance, a decentralized platform for creating and trading synthetic financial products has announced a $7.5-million round of fundraising from leading blockchain funds, including Moonwhale Ventures, A195, DuckDAO, Cryptomeria Capital, Blocksync, X21 Digital, Rarestone Capital, Master Ventures, Consensus Capital, and more. The announcement comes after the company raised the funds simply by word of mouth […]