The current Internet platform is confronting a lot of challenges such as: being proactive in building reputable profile, fake accounts and information that diminish the reputation of the users. Furthermore, these platforms have not accessed to potential reputation data yet. The DREP Foundation is designed in order to address all of these challenges.

1.Community:

Facebook: 841 followers https://www.facebook.com/DREPFoundation/

Telegram: 14642 members https://t.me/DREP_foundation

Kakaotalk: 185 members https://open.kakao.com/o/g5NUg5N

LinkedIn: 661 followers https://www.linkedin.com/company/DREP-foundation/

Twitter: 844 followers https://twitter.com/DREP_foundation

Medium: 165 followers https://medium.com/@DREP_Foundation

2.Introduction

What is DREP?

DREP is a decentralized reputation ecosystem that includes public chain, reputation-based protocols, and tools to boost the power of Internet platforms.

The DREP Foundation creates a decentralized reputation application - called DRAPps. This application helps Internet platforms encrypt their visit to the platform while it also connects to other Internet platforms.

Mission: Promoting and developing an open, transparent, connected and high quality Internet community.

Vision: Building a reputation platform based on Blockchain for applications on Internet platforms.

Internet platforms: DREP targets four major Internet platforms:

E-commerce Platform: The platform that has virtual and real goods and services, and these transactions depend primarily on the reputation of buyers and sellers.

Social Platform: The platform contains specific characteristics of user and the reputation of platform that are reflected through users’ behavior.

Tool Platform: The platform providing users with various tools, such as tools related to interface and reputation, which will be reflected in the verification of the functions of tools.

Content Platform: The platform contains content targeting both users and providers, so the reputation of this platform will focuse on the quantity and quality of content.

How do Internet platforms get involved in DREP?

Step 1: The Internet platform sends a questionnaire to search information for the DREP Foundation.

Step 2: DREP will analyze the information about the Internet platform and technology structure.

Step 3: After confirming the full information, the Internet platform and DREP begin to cooperate.

Step 4: The two sides have eliminated some technical technologies for mutual development.

Step 5: Check the APIs (application programming interfaces) and plug-ins

Step 6: The confirmation platform joins the pools of data sharing reputation.

Step 7: Platform for tracking user growth and interactivity.

3.Distinct technology: The point that makes DREP special is to build the structure of the DREP chain. This structure consists of 3 layers:

Application Layer: This layer allows users to use a variety of applications in the DREP ecosystem. This layer is also suitable with all of the Internet platforms that DREP desires to target, such as e-commerce platforms, social platforms, tool platform content platforms, and so on. Core Service Layer: The Core Service Layer plays an important role in the whole system and is an improvement of DREP. Key components of Core Service Layer:

Library contains algorithms ranking reputation: In the DREP system, algorithms are designed to determine the reputation value on a variety of fields. In addition, DREP also creates an algorithmic platform for third parties in order to make a great effort to encourage users to create their own algorithms.

Reputation Monetization Mechanism: In the DREP system, DREP will issue a token called DREP token and DRApps also create a unique token called Reptoken . In addition, DREP creates a module linked to the DREP Token and Reptox in order to form a complete economic system.

Voting mechanism: The main voting system is a portal to receive feedbacks and response from users about their reputation. Users with good content and reputation will receive a good reward.

Mechanism identifying counterfeit accounts: To address this problem, the DREP establishes a reputation threshold: Accounts have a certain reputation value and this is a condition for identifying counterfeit accounts.

Smart contract interface: in the system, there are modules that contain components controlling smart contract and interfaces. DREP generates common interfaces for token purchase contracts so that platforms can easily generate their own tokens.

Blockchain Platform DREP: DREP builds a platform that addresses complex situations and meets large numbers of users.

4.Development team:

DREP's core team are experts, PhDs who have years of experience in the field of computer science. Including:

Co-founder: Matt Bennice - Software engineer at Google X Expert Technologist and has 10 years of experience working at multinational technology companies such as Google+, YouTube and Accenture.

Co-founder: Stephen Xu, a member of the team developing QTUM project, has extensive experience in working at software development companies such as Microsoft and Tencent.

Co-founder: Momo Chang – graduating with master’s degree from Singapore's Nanyang Technological University, is specialist at FinTech and a securities analyst at Orient Securities exchange.

5.Advisors

In addition to a core team focusing on developing project , DREP also receives the support of a professional advisory team:

Nicola Bettio: Director of INSEAD's KAUST MBA Fund and an investor of some of the world's leading technology companies.

Adrian Lam: Founder of Workzpace.com, Blockchain consultant, member in independent council of Gerson Lehman Group and director of TradeHero in Shanghai.

Joel Ng: CIO and Corporate Finance Director at XSQ, a specialist of Fintech, SME and an expert in Blockchain and cryptocurrency in Asia.

6.Roadmap

The development roadmap of the project is designed quarterly with clear objectives. Team Dev and the project is gradually implementing the goals By the end of the third quarter of 2018, DREP will aim at launching the demo DRAPp and by the first quarter of 2019, DREP will release the mainnet in order for users to gain first experience in the features of the project.

7.Token sale

Total token issued: 10 billion

Total token sales: 3 billion

Token price: $ 0.011

Hardcap : $ 28.7 million

Of the 10 billion DREP tokens issued, 40% are used to build the platform and create strategic relations; 30% for sale; 15% for developing long-term community fund and 15% for team and investors.

DREP will create a main token called DREP token in its system. However, when too many reputation data of users are arisen and multiple accounts need to be verified, the system generates a coin - called REPX.

When users provide data of reputation value, they will receive a DREP token. And this token can be used to transact in the system or pay for service costs when users share information in pools and platforms that are integrated with DREP.

The REPX Token is a stable currency that supports DREP tokens. Users who need confirmation by the KYC process that has the reputation value meeting the threshold can change the reputation mortgage rate to the REPX token mortgage rate. This token is a prestigious type of reputation collateral, at which the better reputation is, the higher the recovery rate of a user's property is.

8.Network

DREP has been building a strategic partnership with more than 13 organizations and the long-term goal of the project team is to connect all Internet platforms.

9.Review

Advantages:

DREP builds a fast-solving, sustainable system for ecosystem among similar platforms with a view to sharing and monetizing reputation data. DREP also offers solutions that include various features in order to enhance the use of reputation value and help the internet platform to deal with the challenges of online reputation.

DREP offers a solution on a large scale that can increase the number of users and bring benefits to the parties involving while opening more opportunities for cooperation. DREP Foundation's products can create thousands of tokens while promoting tokens price and marketing the main product.

Dev team has a lot of experience with blockchain and profound knowledge about BD and PR to overcome the disadvantages of Internet platforms. The project is also supported by many experienced consultants on Blockchain, FinTech and the Internet.

Disadvantages

In the DREP system, two different tokens are built. The DREP Token is the primary token used and the REPX Token is the token support of the DREP Token. The lack of integrating functions into a token makes it easy for users to have trouble in completing transactions.

Before the DREP Foundation, there were many projects related to reputation data management such as Ink Protocol. This means that DREP is working in a fiercely competitive technology field. What makes DREP different is the DREP Chain model and layer structure. However, the demo versions of DRApps have not been released yet, so it is difficult to assess whether DREP will succeed and make a big difference in the technology.

In addition, the project is allocated up to 40% of the tokens for marketing and seeking strategic partners. Competition in the business is getting more increasing and, of course, if you want to get more customers, the advertisement will be a reasonable decision. However, DREP is a new project and its financial resources are not abundant. It is risky to invest significantly in advertising campaign when it is unlikely to succeed. The reason is if it fails, DREP may face difficulties in mobilizing capital.

Reviewed by ICOgens.com

HYPE RISK ROI TERM ICOGEN’S SCORE MEDIUM LOW MEDIUM SHORT MEDIUM

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Source: Icogens.com