Despite the growing popularity of Internet platforms, they are still facing the challenges of untrustworthy news and contents, increasing user engagement rate and inspiring users to contribute high-quality content, as well as avoiding malicious activities.
Currently, when information comes in large amounts, the usage of and charge of the top-quality information is becoming increasingly important. Consequently, Internet participants have a high need to access a very high-quality Internet community, however low motivation to engage and add value themselves. Can the internet participants be incentivised to come together and make up a highly engaged, high-quality, trustworthy and interconnected community?
Under DREP, reputation, like the “goodwill” in intangible assets, may have a value allotted to it on the Internet platform. The way to quantify reputation under DREP is principally based on the behaviors of possible reputation owners on the Internet, including publishing content, commenting, rating, voting, sharing, tipping, and trading. Because the owners of reputation include natural persons, merchants and content like articles, novels, music, and TV series, DREP’s solution focuses on quantifying and monetizing the reputation value for each one of the reputation owners utilizing their own characteristics.
DREP Foundation is creating a system to push this concept forward and change it into reality. By creating a Decentralized Reputation System, DREP Foundation’s vision is to develop a reputation-centered blockchain platform through the use of Drep, economic incentives, and data sharing; to get rid of the information barriers between different Internet platforms and enable applications on the Internet to increase the value of reputation data.
DREP will form a method where reputation values of numerous internet platforms, that are part of the system, is going to be interconnected and dependent on one another forming a great pool of reputation and this includes. Thus a collective digital reputation value may be unleashed on inter-connected DREP community and utilized to best serve the requirements both Internet platforms along with their users.
Additionally, through smart contract control components and several types of smart contract templates, DREP aims to interrupt the barriers for Internet platforms to get in blockchain network. Using reputation gnlowe a link DREP will connect internet platforms with each other encouraging collaborative improvement of the internet community.
DREP is additionally intending to help the development of the blockchain community by co-establishing a joint laboratory and rehearse base, as well as the Dubai Blockchain Research Institute. If successful, DREP will be a game changer for your decentralized reputation network as well as the expertise of the Internet community in general.
Inspite of the growing interest in internet platforms, these are still facing the difficulties of untrustworthy news and contents, enhancing the user engagement rate and encouraging users to contribute high-quality content, in addition to avoiding malicious activities. DREP focuses on solving those challenges for certain types of internet platforms including social platforms, tool platforms, content platforms and e-commerce platforms.