Here at Credo360, we strive to make the entire process of transacting with strangers more safe and secure. So far, we had most of the process covered fairly well: you could check out another person’s reputation on Credo, then you could chat with them without revealing your personal info, and finally, you were able to confirm transactions and provide ratings/reviews. One important piece was missing though —ability to pay for goods and services directly on Credo.
The amount of information the internet has on you is scary. And it is not just that it exists somewhere out there, but how easily it can be found. If you’ve ever used a “people search” site, you know what we are talking about. If not, well, you might develop a slight sense of paranoia in the next few minutes.
With Credo360 we want to make interactions between strangers simpler, safer, and less stressful. But what do people do now? How do they go about figuring out whether they can trust someone they’ve never met? And why can’t they just stick to these approaches?
Solving the Reputation Problem is hard. For one, human behavior is so complex that figuring out how to “measure” reputation is a monumental task. But more importantly, the world where everyone’s reputation is measured and accessible to others seems like something right out of dystopian future.
Reputation is the foundation of civility. For example, in a small town you will get much better treatment at the grocery stand, than you would in a large urban area such as New York City. This is because small town grocers value their reputation a lot. They know they are likely to see you again, and also that your friends are their likely customers. However, chances are, a burger joint in the middle of busy Manhattan will not see you ever again, so they don’t work as hard to preserve their reputation.