In the beginning, a child doesn't know who to trust. Who to trust and not to trust, is something to be learned from its parents. And when children grow older, it's time to let go the parental guidance. New generations have to figure it out by themself. And sometimes that seems to be challenging. It raises the question: Who do we trust? Who will now give honest trust guidance?
Trustier is an online benchmarking platform for trust(worthiness), allowing people to assign trust to people and organisations, through the use of Trustcoins: these function as a currency of trust.
Based on the amount of Trustcoins received and withdrawn, each individual and company is assigned a Trust Tier. These tiers serve as a level of trustworthiness, and can be used in all online or offline exposure, including as a marketing and branding tool. All transactions on the Trustier platform will be transparent and auditable through the use of verifiable logs. In this way, Trustier represents the ultimate step in the trend of distributed trust.
At Trustier, we do not work with star ratings, deliberately. Star ratings are usually given at one specific moment, are often anonymous and hard to verify. Star ratings usually stay on the web forever and cannot be changed by the person giving the rating. They cannot be neutral for everyone: they are either good or bad.
Users of Trustier start at 0, a neutral score for their trustworthiness, reflecting the fact that that they are new to the platform. Depending on the amount of Trustcoins they receive, the amount withdrawn from (and by) them and the amount of users they get coins from, their rating will either increase to as high as +10 or decrease to sub-zero levels (in case of a lot of withdrawals).
Essentially, at Trustier, users cannot 'rate' a person or company. Instead, users can give trust, and this reflects in the recipients' Trust Tiers. These Tiers affect how individuals and companies interact on the platform: if for example, a trustworthy person (with a high Trust Tier), were to give Trustcoins to a recipient, that would positively affect the Tier of the recipient more than if that recipient had received the same amount of coins from a less trustworthy person.
In this way, if a user’s aim is to attain a high Tier, it would be prudent for that user to start giving Trustcoins to a lot of users, and hoping that he/she would get some in return, especially from users with a high Trust Tier.
A user's Trust Tier is also influenced by the Tier of other users. If the community receives more Trustcoins than a particular user, and no coins are withdrawn, this could sometimes results in a change of that user’s Trust Tier. Last but not least, time is a factor in the calculation of the Tier. If a user becomes inactive on the platform and thereby does not receive Trustcoins regularly, that user's Trust Tier could be negatively impacted.
This is why we will introduce periodic automatic disbursements of Trustcoins to the Trust Tribe, a list of users you gave and received most Trustcoins from.