Reputation V2

A blockchain based reputation system allows immense amount of analytics. For this, we need consistent and regular rating behaviour by users.

Pain points of the existing system included

1. Platform manipulation - Merchants can buy reputation score or remove comments/ratings hurting business without improving.
2. Stale rating - Once a large reputation score is achieved, bad performance doesn’t reduce it due to an averaging.

By creating a mechanism of incentivising users to provide ratings every time and for every experience, it attempts to bring promote consistent ratings and more real reputations based on activity.

• It solves problems like Platform manipulation and stale reputation scores.
• It can be applied to various categories - Merchant platforms, B2B, B2C
• It introduces a decaying reputation and tokens and rewards activity and participation.
• DAO controlled reputation calculation mechanisms(replaceable calculations, updatable thresholds)

REP token

• The users are rewarded a REP token for every review.
• REP token can be burnt to boost reputation score(within limits). This helps upcoming businesses improve Reputation score.
• Customers can redeem their tokens for discounts by transferring REP to businesses.
• REP can’t be traded across accounts and hence can’t just be bought.
• REP tokens and Reputation score both have a decay rule built into them. Being active is the only way to keep it up.

[nb: I proposed this idea in a previous hackathon(no code implementation). However, this time I have added more detail and some code implementation.]

• The mechanisms that require calculation(reputation and reconciliation) might require a lot of on-chain updates. Still focused on this on and evaluating rollup options to minimize transactions.
• There are user safety aspects as the rating can indicate user location and identity. Evaluating a ZKP based approach with randomization and batching.