Human Trust Protocol - Decentralized trust network.
ICOHub is a reputation system for ICO projects and token purchasers, forming a trust network around ICOs. Created by Hub, ICOHub serves as a proof-of-concept application for the Hub Human Trust Protocol.
The ICOHub application enables interested parties to get trust scores and other information about specific ICOs. Initial trust scores are calculated from self-attested information. Additionally, users can help assess the quality of ICOs by voting on the likelihood of success of upcoming ICOs, further enriching ICO reputation data. Once an ICO has completed, users who voted correctly are rewarded with Hub tokens. As users vote, they collect a verified and portable reputation history about their knowledge and expertise about ICOs.
ICOHub also allows ICO projects to enhance their own reputation and trustworthiness. By providing additional credentials about their ICO, the trustworthiness of their project increases. For instance, a partnership with the ICO Governance Foundation (IGF) will allow ICO projects to provide an IGF-1 disclosure that will increase their trust score.
Fundamental Issues With Content & Trust:
Volume & quality of content
Social platforms and messengers are flooded with unwanted messages and inaccurate or misleading content that lead to faulty decision making.
Maximum # of trusted contacts is limited
The Dunbar number says the average person can maintain at most 150 trusted connections, yet today’s world demands interactions well beyond this limit.
Not enough trust online
Instead of completing transactions online, users rely on phone calls and face-to-face meetings to consummate transactions.
Issues With Centralized Reputation:
Partial and fragmented
A user’s reputation is fragmented across multiple services, hindering an efficient, comprehensive & transparent view of their trustworthiness.
Limited ability to manage it
Reputation data is embedded and owned by application creators who control and exploit it.
Lack of portability
After investing significant effort in fostering trust in one community, users are unable to transfer their trust elsewhere.
Human Trust Protocol solves endemic trust problems & usable in any community and marketplace:
Three Pillars of the Protocol:
Associate reputation data to identities. Each account will reference an identity using decentralized digital identities.
Capture rich and raw reputation data by which applications can enable users to make the best interpretation of trustworthiness.
Provides for evaluating a user’s capability and intent on a new interaction.
Trust leads to greater economic value
By securing trust and decentralizing reputation data on a blockchain, the Internet will offer greater economic value to users to gain more opportunities, command higher premiums for their products and services, and get more cooperation from others.
Earn trust through interactions
The Hub token lets users earn trust as a result of successful interactions. Selecting from a growing library of smart contracts for user interactions to transactions, users “stake” their success with tokens and build their reputation as the basis for trust.
Portable, verifiable, owned by you
Portable across applications, verifiable with interaction histories, reputation data will be self-sovereign to you. You control how it is accessed by applications and communities. Trust becomes a “prediction market for human behavior”.
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