Online reputation management services for corporates and individuals are as vital as just about any significant decision that affects their brand image out there. But at a period when online conversations and monitoring them is of the enormous essence in the success of the company, not every reputation tool is trustworthy. Fake and synthetic reviews cost businesses as much as $320.6 billion every year!
What Is TRU Reputation Network?
To help businesses and individuals get quality and authentic online reputation management services is the Tru Reputation Network. It is the first, one-of-a-kind decentralized ‘Proof of Reputation' solution, designed to use a ‘patent-pending Semantic Terms Feedback algorithm.’ Ideally, what the network does is to eradicate false, counterfeit reviews that ravage the e-commerce industry and cost it billions of dollars.
The whole platform is built using Ethereum blockchain technology, and that means it is decentralized, unregulated and 100% transparent with genuine reviews. The technology underpins the network as it acts as the medium of storage, public scrutiny, computation, and non-refutation.
How TRU Reputation Network Digital Transaction Feedback Works
According to tru.ltd/ and the Whitepaper, the platform is crafted to be a hub to receive genuine feedbacks from different individuals. And that’s possible since each participant is vetted and pre-qualified rigorously to help avert what typically affects conventional reputation networks. Another feature that makes the Tru Reputation Network real and trustworthy is because its data is transparently immutable and non-reputable.
The whole system represents a revolution whose arrival has been long overdue. Reputations and Feedbacks are fashioned like digital transactions, by using Patent-Pending algorithms. Since they are completed as smart contracts, each task completed is assessed and verified as true, accurate and concise.
Stage #1: Transactions
At this stage, a transaction pitting two or more parties takes place on the platform. It could be exchanging currency on the exchange platform or paying for services rendered or goods purchased.
Step #2: Private Reporting
After the Transaction stage is done, each party chooses the Semantic Terms Feedback. The feedback that summarizes how the transaction took place is surrender to the Tru Reputation Network where it is then embedded in the organization’s profile. At this stage, however, the review is inaccessible to the general public just yet.
Stage #3: The Consensus Wait
This stage acts a bit like the “grace period” whereby each feedback submitted is halted for seven days in anticipation of either party lodging an objection to the feedback left. Upon expiry of the 7-day period, however, the Semantic Terms Feedback becomes live at the Tru Reputation Network. If there’s an objection yet, the feedback has been published, and the platform triggers an automated resolution mechanism to resolve g the dispute.
Stage #4: Public Reporting
This stage is reached after the 7-day waiting period elapses. Essentially, the feedback becomes publicly searchable against the company’s profile.
Stage #5: Tru Distribution
After the Consensus Wait Stage is over, each party gets its share of the Tru Reputation Token (TRU) with the tokens shared equally.
Stage #7: Your Reputation is 100% Genuine
Your reputation becomes available at the Tru Reputation Network, and you can seek to enhance it by having more transactions.
Stage #8: Monetizing Reputations
Since TRU tokens are mandatory for anyone looking to access the platform, the network thus allows selling and exchange of them.
TRU Reputation Network ICO Details
At the moment, the pre-sale is on-going with 25% bonus for each TRU token bought. The main cryptocurrency used is ETH with each piece equal to 1,125 TRU tokens. At the crowdsale, however, each purchase will attract a bonus of 12.5% while subsequent purchases will mean 1ETH = 1000 TRU no bonuses.