Problem Statement Summary:
There are many issues facing efficient markets today. Some are pervasive in all markets while some are unique to decentralized markets:
- Reputation Centralization
- Trust in a Decentralized World
- Information Asymmetry
- Reputation Manipulation
What is it?
Uprightly solves these problems with a unique combination of blockchain-enforced features and economic incentives. Coupled with a delightful user-interface, the technology behind Uprightly creates an easy, robust, secure, decentralized and reliable protocol with which users can invest in their reputations both online and offline.
This protocol acts as a unifying reputation system across any platforms that a user conducts business. Since Uprightly is platform-agnostic and can be used anywhere, an API is also in the roadmap to allow other services to integrate with this reputation system.
How does it work?
Uprightly is designed in accordance with the idea that it should be cheap to maintain a great reputation and very expensive to try to game the system or be uncooperative. There are three major components to the Uprightly solution:
- The Uprightly protocol token (UPT)
- Incentives for cooperating with each other
- Public record of past behavior of participants
Our team consists of several experienced software engineers with backgrounds in economics, law, and distributed systems.