trust and reputation
Business Economy Real Estate Technology

What are the future challenges for trust and reputation?

There are, according to Juan Cartagena, 6 questions that need an answer and that are also affecting the future of the Shared Economy business model:

Who owns our reputation?

Reputation is semantically defined as “what other people think of you.” Therefore, it is difficult to attribute ownership to it. Do you own opinions? Or do you own where those opinions are stored?

Online, eBay has its reputation on eBay. Airbnb has its reputation as AirBnB. Maybe you should own your reputation, so that you can take advantage of it the way you want, to take care of people’s iguanas.

Right to forget and right to delete!

However, according to point 1, should I be able to do something about it? Am I the owner of those opinions or is the reviewer the owner? If I am the owner of my reputation, should I be able to remove it? Or modify it?

The value of a negative reputation is high.

If an eBay seller has 99.7% positive feedback and 0.3% negative feedback, you’ll probably get a closer look at negative feedback. Negative reputation data is critical to decision making, but how much is good and how much is bad? Is 99.7% good? Is 95% good? Is 90% good? Is 70% good? Where is “good”? It is probably a subjective metric.

The reputation of criminals who trust each other!

Many criminals trust each other and create a network of trust between them. It is a very complex problem to solve and must be carefully addressed to measure reputation diversity. You can have people transact ten times on eBay with each other to earn “stars” and then, once they have stars, they will commit fraud.

Excluded people: no connection to online reputation

There are people who are not present (do not actively participate) in the digital world. How do we make sure they don’t run out of opportunities? Who can also create these online transactions and be part of this accessible network that we are creating? How do we extrapolate your reputation from the offline world to the online world so everyone has access to the economic graph?

Letting algorithms determine reputation. In human?

Should we let the numbers tell us what their reputation is? Or should we have full transparency in how the algorithm works? Or should we do it by hand?

Conclusion

The Sharing Economy business model needs, to be successful and sustainable in the future, a mechanism that makes reputation visible and creates the necessary level of trust among all the actors in a given transaction.

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