Rating Users on Online Marketplaces

The Rental / Sharing Industry
March 31, 2018
Blockchain As A Service
April 27, 2018
Show all

Rating Users on Online Marketplaces

Rating Users on Online Marketplaces

The Blockchain-Enabled Peer-To-Peer Review Site

We have formed a relationship with Tradefax.org. Tradefax.org will use Ideum Tokens as the only currency for its peer-to-peer review site. At Tradefax.org, users will be able to rate each other, and earn Ideum Tokens by doing so. They can use Ideum Tokens to buy, sell, and rent items on online marketplaces like Rentus.com, as well as to pay for membership benefits in Tradefax.org.

Users will be able to obtain different levels of ratings and certification, calculated from Ideum and other Cryptocurrency trading history, complaints, compliments, and having partial or full background checks. Background checks can be paid for with Ideum Tokens. The results of the background checks will be kept private but will determine the user’s public rating level. For example, a person with no felonious record will receive a higher rating than the person with a criminal record. Users will be able to choose how this information is published on their profiles. Tradefax.org will act as the platform provider and the community will also have the ability to vote for in favor or against a member based on his or her track record.

Imagine knowing who you are dealing with by knowing their trading history and ratings!

Why is Tradefax.org needed?

A universal rating system that rates online traders across platforms is long overdue. Blockchain Smart Contracts and full transparency will be the determining factor for the Sharing Economy to work and grow.

Some online marketplaces like eBay have user-driven ratings systems that are exclusive to that marketplace alone. Other classified websites like Craigslist don’t have any ratings or methods to verify the identity of the people trading. Newer marketplaces and mobile apps use social verification. Social verification can only go so far, as it is very easy to create fake social media accounts and even have hundreds of “friends”. It is very hard to erase someone’s trade, credit, and legal history.

The Tradefax.org rating system motivate users to be transparent and play by the rules. If a person has nothing to hide, he or she must have a Tradefax.org profile, period.

Leave a Reply

Your email address will not be published. Required fields are marked *