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Offline Coinality

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Alternative Blockchain Implementation for Decentralized Ratings
« on: February 14, 2014, 11:07:00 PM »

Just wanted to throw this idea out there. Feel free to shoot holes in it!

Problem: Rating agencies (Better Business Bureau, Yelp, etc.) are notoriously influenced by money; negative ratings are suppressed for paying users on Yelp and the BBB has been known to "correct" a company's BBB rating after said company pays its "dues" to the BBB. This results in censored reviews and results in censorship of some submitted reviews.

Solution: A DAC-operated rating agency. I'm not sure what the technical implementation would look like (hence this post) but this is how it would basically work:
  • Public addresses would belong to the company/service being rated. Ideally, there could only be 1 address per business, although I'm not sure if this limitation is enforceable.
  • Ratings would be determined by the balances of the company's public address: the address with the most "RatingCoins" would be the best and would rise to the top of some type of aggregated list for higher visibility.
  • Since there would be little/no incentive for miners, the DAC would need to control/operate a consolidated, scalable mining operation to keep the "RatingCoin" network secure. Eventually, there may be ways to introduce incentives for distributed mining.

Is this even possible?

Offline JA

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Re: Alternative Blockchain Implementation for Decentralized Ratings
« Reply #1 on: February 14, 2014, 11:32:49 PM »
But wouldn't the companies just buy their rankings instead of getting ranked by real people ?

Offline Coinality

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Re: Alternative Blockchain Implementation for Decentralized Ratings
« Reply #2 on: February 15, 2014, 08:02:50 AM »
Well ideally, "RankCoin" could not be bought or traded (again, not sure if this can be enforced) - but ya, I haven't figured out a way around the problem of manipulation.

Offline CWEvans

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Re: Alternative Blockchain Implementation for Decentralized Ratings
« Reply #3 on: February 15, 2014, 02:21:10 PM »
But wouldn't the companies just buy their rankings instead of getting ranked by real people ?

They would be limited by their budgets, once enough users were in the system.

Also, if one suspected that a firm's managers were trying to buy the love, the Streisand Effect might kick in.

Offline bytemaster

Re: Alternative Blockchain Implementation for Decentralized Ratings
« Reply #4 on: February 15, 2014, 05:58:08 PM »
I think a simple prediction market (BitShares X ) where the asset in question is 'trustworthiness' of a business.   A value of 1000 would be the most honorable businesses you could deal with and a value of 0 would be the FED.

Nothing really fancy here...
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

 

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