© 2019 DREP Foundation Ltd., All Rights Reserved
DREP Q&A
01
What is Drep?
Decentralized Reputation System (DREP) is a decentralized solution based on blockchain technology that quantifies and monetizes reputation value and uses it for trading, making investment, sharing data and providing services for all the Internet platforms.
02
How to understand it in everyday language?
Put it into perspective, your online reputation derived from your online platform behavior can now be quantified into a ‘number’ via optimized algorithms, and that ‘number’ can become more than a number because it now has an actual cryptocurrency value, with which you can trade (‘buy/sell’ other available services), invest and use as a proof of your identity and credit across different platforms and channels.
03
What is the genesis of DREP?
We believe in the huge potential of online reputation. By utilising the transparent, decentralized and immutable nature of Blockchain technology, we are enabled to build a strong, scalable reputation data pool for users across different platforms and tackle problems for platforms.
04
What problem is DREP trying to solve, and how serious is it?
The solutions we provide include 1. Reputation Quantifying Mechanism a. Quantify reputation value based on user behaviors on platforms b. Monetize reputation value using reputation token 2. Voting Economic System a. Incentivize users via models such as upvote/downvote mechanism and reputation endorsement 3. Fake Accounts Identification a. Assist identifying fake accounts, news and voting frauds 4. Reputation Data Sharing Pool a. Build a shared token holders’ reputation data pool to help internet platforms manage users’ reputation and acquire more desired users. 5. Filtering/ Screening service a. Esp. sharing assets platforms b. Control the level of reputation that is required to sign up on their sites c. Filter out newly created spam bots as well as control the quality of the users 6. Identity Management: a. Help users maintain their reputation online b. Easier onboarding of new users c. Filter new users by reputation level 7. Content Recommendation and Ranking a. Know your Customer behavior better using their reputation characteristics 8. Credit Reporting based on Digital Reputation a. Creditworthiness of users based on their behavior on other platforms 9. Referenceable Reputation Value a. Users’ reputation value sharing pool can be accessed and recognized by other platforms (DApps) in DREP network.
05
What is our mission?
To push forward a more transparent, engaging, high-quality and interconnected Internet community.
06
What is our vision?
DREP’s vision is to build a reputation-centered blockchain platform for the Internet by utilizing decentralized mechanism, economic incentives, and data sharing; to break the data barriers between different Internet platforms and quantify and monetize the reputation value of users, content, products, services etc. on the blockchain; to allow reputation-owners to manage their reputation in a safer and more private way; to enable platforms on the Internet to maximize the value of reputation.
07
How does DREP aim to solve the problems?
DREP is a fast-growing blockchain project that aims to solve the problems of untrustworthy news/contents/data, manipulation of fake accounts/ranking/voting, etc., and to provide a more unbiased reputation value that could be monetized by reputation owners: users, organizations (e.g. merchants) and content. Based on our voting economic system, reputation quantifying mechanism, smart algorithm database for user pool sharing, etc., online platforms can be benefited by increasing numbers of users and user engagement, acquiring high-quality content contributors and large-sum transactions, and reducing malicious user activities.
08
What is our solution as a technology enabler?
The solutions we provide include 1. Reputation Quantifying Mechanism a. Quantify reputation value based on user behaviors on platforms b. Monetize reputation value using reputation token 2. Voting Economic System a. Incentivize users via models such as upvote/downvote mechanism and reputation endorsement 3. Fake Accounts Identification a. Assist identifying fake accounts, news and voting frauds 4. Reputation Data Sharing Pool a. Build a shared token holders’ reputation data pool to help internet platforms manage users’ reputation and acquire more desired users. 5. Filtering/ Screening service a. Esp. sharing assets platforms b. Control the level of reputation that is required to sign up on their sites c. Filter out newly created spam bots as well as control the quality of the users 6. Identity Management: a. Help users maintain their reputation online b. Easier onboarding of new users c. Filter new users by reputation level 7. Content Recommendation and Ranking a. Know your Customer behavior better using their reputation characteristics 8. Credit Reporting based on Digital Reputation a. Creditworthiness of users based on their behavior on other platforms 9. Referenceable Reputation Value a. Users’ reputation value sharing pool can be accessed and recognized by other platforms (DApps) in DREP network.
09
What is the market?
Medium- and large-scale Internet platforms faced with problems of untrustworthy news/content/data and manipulation frauds due to fake accounts/ranking/voting, etc., and those who want to utilize the blockchain technology to release internal digital currencies for economic incentive purposes. Countries of focus: 1. primary focus: Asia and Middle East 2. secondary focus: USA, Europe, Australia
10
Who can benefit from DREP’s decentralized reputation system?
DREP focuses on solving those challenges for different types of internet platforms including social networking platforms, e-commerce platforms, content platforms, gaming platforms, tool platforms, etc. By introducing economic incentive modules DREP aims to encourage participants of internet platforms to value and maintain their own reputation because users with high reputation characteristics can accumulate relatively higher reputation value and gain economic rewards proportionately.
11
About the Company - DREP Foundation: who are we?
DREP builds a decentralized reputation ecosystem based on Blockchain technology which empowers various Internet platforms to quantify and monetize reputation value. We are a strong and diverse team of developers, UI/UX designer, business developer, marketing & public relation officers. Our developers have experience from Google, Tencent, Microsoft, and iQiyi. We also have knowledgeable and reputable advisors from Blockchain, FinTech and Internet.
12
What is our competitive advantage?
1. Strong and diverse team with solid blockchain basis, profound BD and PR strategy and knowledge in reputation to better solve the pain points for Internet platforms with the decentralised reputation system. We also have knowledgeable and reputable advisors from Blockchain, FinTech and Internet 2. We aim to build the stable and fast infrastructure for interconnected ecosystem that allows to monetize reputation value and share reputation value between similar platforms 3. A highly scalable solution that has a high velocity of user base growth, that can be beneficial to parties, opening wide variety of opportunities and positive synergies for partnerships 4. Internally incubated product that can generate more than thousands of token holders at its launch, which can support the token price and help to market the main product 5. Continuous release of live DApps can guarantee a long-term stability, interest in the project and growth of DREP token price 6. Strong tokenomics through constant increase of the number of integrated and incubated internet platforms. This will help increase the value of reputation data pool and allows DREP to provide more value-added services
13
How does DREP stand out from its competitors?
There are platforms who provide some parts of our solution separately but most of them are separate stand-alone platforms and cannot provide the synergies and integration that DREP aims to provide. With most of the existing platforms there are still complaints from the users about their centralization of the platforms’ consensus mechanism, about their slow speed, non-transparency, weak tokenomics, unfair token distribution etc. DREP on the other hand plans to provide a solution package that includes all the different features that can enhance usage of the reputation value and help internet platforms address their challenges with online reputation. We understand blockchain remains a niche technology, that’s why DREP is here to lower your barrier of entry! We recognize that individual platforms know their systems and businesses the best, the needs and pain points, etc. We are acting as a technology enabler to help them reach an optimal algorithm to quantify reputation value and monetize it. Our customers are placed in the center to decide what’s best for themselves, and we’re there to make things easier for them. Instead of using a ready-made, one-for-all solution, our customers get to address their individual needs fully. As for reputation monetization, we can either help platforms with issuing their own token or offer them our token for simplicity. DREP seeks to integrate existing platforms and help them improve and grow rather than competing with them. We do not plan to be a stand-alone platform like many existing competitors, but rather provide a protocol for the existing internet platforms. The more our ecosystem grows the better it is for the participants of the system and it creates positive synergies for partnerships. Our DREP system doesn’t get slower with new comers. The more platforms join us, the more access we have to a larger user base, the more value-added services we can provide.