Trust: The currency of Reputation Economy

In a rational definition, trust is a type of risk assessment of the likelihood that something will work out, for example a business. It is the act of relying on analysis based on past experiences. However, it cannot be defined as something rational and predictable. Trust empowers people to connect securely with the unknown. Human beings are exceptional in giving votes of confidence. An example of this is the fact that we share our credit card information on websites. We rely on trust for our lives to work.

According to Rachel Botsman, a world-renowned authority on the power of collaboration and trust, technology is profoundly altering the trust-building model between people. In her presentation at TED in 2016 [1], entitled “We’ve stopped trusting institutions and started trusting strangers”, she stated:


Airbnb, Uber, BlaBlaCar and Tinder are just a few examples of mechanisms that allow its members to rely on strangers. A change is underway, the transition from “institutional trust” to “distributed trust.”

Republished from Letsfair Blog:
https://letsfair.org/blog/trust-the-currency-of-reputation-economy/

Introducing Letsfair

A marketplace for shared economy apps

The name Letsfair came up from the combination of two expressions: “Laissez-faire”, which represents economic liberalism, and “Let’s play fair”. Therefore, the name Letsfair refers to the fair practice of economic liberalism.

The goal of the Letsfair project is to build a shared economy network, which in practice, is a marketplace for many types of apps. Our biggest challenge is to promote a decentralized work organization.

To give you a better picture, imagine that an entrepreneur wants to perform a project, and that this will be possible with Letsfair: they can look for skilled professionals from many fields; check each of their reputations; assemble a decentralized work team; divide the property rights among the participants; make the payments, and at the end, have his project fully developed and completed. This is our mission: to decentralize work relations.

The guiding principles for Letsfair are:

• By using technology, we can assure that users take true control of their own data;
• Offer tools for the users to build a multidimensional reputation, which will measure many human features, enabling them to have a value;
• Enable the creation of work agreements between people for building commercial relations and decentralized projects;
• Establish guarantees for the right of digital property;
• Offer payment and negotiation tools, which is key to close deals.

Therefore, with all currently available and emerging technologies, such as blockchain, it is possible and feasible to build this project, ensuring that its principles fit into the free market, strengthening the establishment of shared economy, or in other words, “Uberization.”

Republished from Letsfair Blog:
https://letsfair.org/blog/introducing-letsfair/

Hello,

I'm the Letsfair's founder and I'm available to anyone who wishes to know about our project. Don't hesitate to contact me.

Thank you,

Anselmo
anselmo@letsfair.org
https://www.linkedin.com/in/anselmozago/