[2014-08-20] CD: How Cryptoagency is Building Bitcoin’s Better Business Bureau

[LiteCoinGuy]

How Cryptoagency is Building Bitcoin’s Better Business Bureau


Cryptoagency.org will charge companies that accept, deal, mine, pay or otherwise use cryptocurrency, in return for accreditation. Accreditation comes in three tiers – bronze, silver and gold – ranging from $400 per year to $1,600 per year in bitcoin. Charges are decided based on a company’s size and longevity, but most people will start with bronze, Fenton says.

But accreditation isn’t something that you can automatically pay for, and there are rules governing it, Fenton explains. Companies must disclose any theft of cryptocurrency, resulting in the loss of accreditation for a year. They also lose accreditation if they fail to repay loans.

The value of the system lies in the community rating, Fenton says. Membership of the community is free for the general public, and they can rate and leave reviews of companies that they have dealt with.

http://www.coindesk.com/cryptoagency-bitcoins-better-business-bureau/