How Blockchain Could Create a Decentralised Reputation-Based Society

In the past, when you required some work done, you would ask a local craftsman to do so. You were confident that you could trust the craftsman as it was a small village and any betrayal by him or her would result in loss of business. On the other hand, the craftsman knew he/she could trust you as when you would betray the craftsman it would mean that no one in the village wanted to work for you again. It was a system that worked very well. Unfortunately, with the internet turning the world into a small global village, that system pretty much disappeared. As a result, it has become increasingly difficult to trust someone you don’t know.

What is reputation?

To understand the challenges we face with reputation, it is important to understand what reputation is and how it is created. Reputation, or image, is a certain opinion about that person, company or device. A reputation is created over time, based on a set of criteria. It is a mechanism of control within societies and increasingly also among connected devices. It is important to know that reputation exists on multiple levels, ranging from an individual, organisation, communities to countries and cultures. ...


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