Sunday, January 20, 2013

Lets Empower the Sharing Economy

According to @TrustCloud, my TrustScore is 755. How do you stack up?!/HansLak

It’s a movement as dramatic as the Industrial Revolution: the consumer experience is rapidly evolving, with sharing becoming a more fulfilling experience than owning.  Strangers can now leverage technology and access an exploding number of sites to share cars, rooms, items and tasks.
The Sharing Economy, also called Collaborative Consumption, connects people to their communities, saves money, and is environmentally-conscious.  Learn more about Collaborative Consumption here.
TrustCloud provides a tool to build and maintain portable Trust between strangers and sharing sites, simplifying and improving the Sharing Economy experience and shaping its evolution.
The notion of connecting trustworthy strangers is an untapped market. Social, mobile and location technologies are coming together to make efficiency and trust. Technology creates the social glue for trust to form between strangers.

TrustCloud gives you the confidence to make smart decisions in the Sharing Economy.
TrustCloud gives you the confidence to make smart decisions in the Sharing Economy

The Future of Trust

Back in the day, trust was established in person, a friendly referral, or through a large established brand built over many years.  The fast moving online world of peer marketplaces must rely on indicators of trust which are native to the digital world: online data, behaviors, and transactions.
There’s an art and science to establishing trust online. Our extensive research into credit and actuarial sciences have given us a clear path of what does and does not work when it comes to deciding to transact with a person. While financial and insurance institutions have vast resources to learn about you to determine if they should transact with you, individuals do not.
TrustCloud works with leading experts and academic authorities on Trust Mechanics to develop a unique 3-layer method to measure trustworthiness.
  • Verification Layer
    Verified identity through multiple email, snailmail, and SMS confirmations.
  • Behavior Layer
    We detect behavior across social networks like Facebook, Twitter, and LinkedIn.
    Our proprietary algorithms look for behaviors like responsiveness, consistency and longevity.
  • Transaction Layer
    Finally, we gather opt-in transaction data (like ratings and endorsements) from sharing sites and peer-to-peer marketplaces.  Measuring these transactions provides additional indicators of trustworthiness (e.g. if you respect my car, you’ll respect my apartment).
Other factors in our methodology:
Privacy and Identity Data protection
From Twitter to Facebook, some of your activity on social networks is publicly available– TrustCloud analyzes this same public activity to determine the trustworthy reputation you’ve built online.  We also allow you to opt-in and share relevant private activity that will improve your TrustScore (simply by deepening the number of sources and info our algorithms can analyze).
We always respect the privacy settings of our source networks and never analyze private accounts, unless given explicit permission.

Federated Identity
TrustCloud utilizes this method of linking a person’s electronic identity and attributes, stored across multiple social networks and sites. Building trust system technology with industry standards like OpenID 2.0 and US Government ICAM in mind is a critical step in integrating your real-world identity with that you’ve built online.

Academic Validation
TrustCloud works with author and trust expert Charles H. Greene to interpret universal indicators of Trust such as Credibility, Reliability, Familiarity, and Consideration. We further validate these assumptions through research collaborations with Stanford University’s Sociology Department.

Industry Partnerships
We’re committed to promoting the growth of trust in the Sharing Economy through our association with some of the leading groups in the space.
  • Shareable
  • Shared Squared
  • OUIShare
  • TrustInSharing

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