Reputation Protocol for the Internet of Trust

Craig Calcaterra () and Wulf A. Kaal
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Craig Calcaterra: Metropolitan State University
Wulf A. Kaal: University of St. Thomas School of Law

A chapter in Legal Tech and the New Sharing Economy, 2020, pp 155-179 from Springer

Abstract: Abstract InternetInternet -based platform businesses outcompete traditional brick and mortar business on nearly all measures of comparison. Similarly, distributed ledger technology (DLT)Distributed Ledger Technology (DLT) businesses depend on the InternetInternet and show a lot of promise in multiple business verticals. Yet, InternetInternet -based platform businesses and DLTDistributed Ledger Technology (DLT) businesses have not reached their full potential. Multiple studies, dataData , and anecdotal evidence suggest that one core factor that undermines their evolution is the worldwide decreasing trustTrust in the InternetInternet and under-developed trustTrust in decentralized technology solutions. Semada and the Semada Research Institute (SRI)Semada Research Institute (SRI) believe that a decentralized reputationReputation network can reverse that trend to increase trustTrust in the InternetInternet and increase decentralized technology adoption. We call this solution the Semada InternetInternet of TrustTrust —a network that uniquely captures real world information, context, and value in cryptographic transactions generating transparently validated consensus on truth. Through the creation of unconscious and conscious trustTrust in decentralized networks adoption becomes a desirable outcome and increases. Semada is a unique blockchainBlockchain platform well suited for the decentralized web. Semada’s core architecture continually resolves the blockchainBlockchain trilemma by combining: (i) decentralization; (ii) scale, and; (iii) security. Semada’s version of proof-of-stake—a.k.a. the Anchor ProtocolProtocol —is a unique consensus algorithmAlgorithm that enables block propagation through reputationReputation staking and verification. Through its Sockpuppet ProtocolProtocol , Semada is resilient to deceptive fake InternetInternet identities, so-called sockpuppet accounts, and 51% attacks. Through its Persona ProtocolProtocol , Semada facilitates digital sovereignty, self-sovereign identity, privacyPrivacy , security and decentralized reputationReputation . TrustTrust enabling reputationReputation can only be earned over time on the Semada network. The Semada InternetInternet of TrustTrust creates a framework of trustTrust through reputationReputation and incentive optimization that enables market conditions for unprecedented business models and market capitalization while reducing adverse selection and moral hazards for transacting parties. The network will provide information symmetry while reducing transaction costs for market participants. Businesses will leverage the platform to achieve efficiencies across verticals.

Keywords: Trust; Internet; Blockchain; Reputation; Protocol (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:perchp:978-981-15-1350-3_9

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DOI: 10.1007/978-981-15-1350-3_8

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