What is DREP?

Decentralized Reputation System is a decentralized solution based on Blockchain technology that quantifies and tokenizes online reputation for trading, investment and data sharing purposes. DREP aims to empower Internet platforms to solve their pain points, restructure their value ecosystem and facilitate their transition and acceleration via reputation-centered tokenomics and Blockchain technology.

Team

DREP boasts a very experienced and impressive team including the former led developer of QTUM and Tencent Software Engineer, Stephen Xu, former Tencent Software Developer Yue Wang and Matt Bennice, Software Engineer at Google, X the moonshot factory and former Manager at Accenture.

What does this mean?

DREP plans to use their innovative reputation protocol to allow EXISTING internet platforms (e.g. Reddit, Amazon, Ebay, Twitch, Youtube) to tokenize and monetize their users’ reputation value/score and allow users’ reputation data to be shared across multiple platforms. For example, a user’s Youtube and Reddit reputation could be shared between each both platforms, allowing a user to gain the benefits that come from having a good reputation on either platform. Applications built using the Drep protocol are called Drapps.

Why DREP? What problems does Drep solve?

For blockchain based platforms such as ALIS, Refereum, Jet8, Cindicator etc, Drep can help curb speculation and help with user retention by incentivizing participation and placing value on reputation scores.

For Small/Medium Applications Drep can allow an easy way to interface with the blockchain and tokenize their systems. Drep facilities this through RepTokens which allow systems to be easily issue their own tokens on the Drep blockhain. This is similar to Simple Token’s goal and is extremely important for tokenization/blockchain adoption.

Drep also aims to solve the “Isolated Island Effect”, i.e. connecting the communities of different platforms together. An example would be Reddit connecting to Steemit.

These are only some of the things Drep aims to solve, to get more detail please consult the whitepaper.

What are some of the User Cases for drep?

Ecommerce Platforms — More accurate and trustworthy product reviews

Social/News Platforms — Helping filter out Fake news and harmful content

Content Platforms — Helping filter harmful content, promoting good content, content discovery

Token Usage

Tokens will be used as gas for transactions, subscription fees for certain products/services and as a reputation asset. Drep will also release a stable token (Tether/TUSD etc) called REPx once the network becomes more mature.