Trust is a key component in all successful markets.
Markets are built on trust. For markets to work efficiently, participants must be able to demonstrate their trustworthiness as well as discover the trustworthiness of counterparties. To date, there does not exist a reputation tracking system that is reliable, independent, and decentralized.
Uprightly solves the problem of trust using blockchain technology and economic incentives. It is not tied to any particular marketplace and a user’s reputation follows them everywhere. The system is independent of any other components such as a payment gateway or a particular cryptocurrency. Uprightly can be used on any platform for any transaction or contract (cryptocurrency-based or otherwise)! The system allows for users to submit reviews of others as well as allows users to easily find information about how other users act in the marketplace. It is our belief that Uprightly will encourage cooperation amongst participants due to its incentive structure. It also protects against manipulation and disincentivizes common problems with reputation systems. It does not require any third-party moderation and is, in fact, designed to be censorship-resistant and decentralized.