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But this wealth of data raises an important question -- who owns our reputation? Shouldn't our hard-earned online status be portable? If you're a SuperHost on Airbnb, shouldn't you be able to use that reputation to, say, get a loan, or start selling on Etsy?

The difference today is our ability to capture data from across an array of digital services. With every trade we make, comment we leave, person we "friend", spammer we flag or badge we earn, we leave a trail of how well we can or can't be trusted.

An aggregated online reputation having a real-world value holds enormous potential

peer-to-peer marketplaces, where a high degree of trust is required between strangers; and where a traditional approach based on disjointed information sources is currently inefficient, such as recruiting.

opportunity to reinvent the way people found jobs through online reputation

"It's not about your credit, but your credibility," King says.

At the heart of Movenbank is a concept call CRED.

"People are currently underusing their networks and reputation," King says. "I want to help people to understand and build their influence and reputation, and think of it as capital they can put to good use."

Social scientists have long been trying to quantify the value of reputation.

Using functional magnetic resonance imaging, the researchers monitored brain activity

"The implication of our study is that different types of reward are coded by the same currency system." In other words, our brains neurologically compute personal reputation to be as valuable as money.

Personal reputation has been a means of making socioeconomic decisions for thousands of years. The difference today is that network technologies are digitally enabling the trust we used to experience face-to-face -- meaning that interactions and exchanges are taking place between total strangers.

Trust and reputation become acutely important in peer-to-peer marketplaces such as WhipCar and Airbnb, where members are taking a risk renting out their cars or their homes.

When you are trading peer-to-peer, you can't count on traditional credit scores. A different measurement is needed. Reputation fills this gap because it's the ultimate output of how much a community trusts you.

Welcome to the reputation economy, where your online history becomes more powerful than your credit history.

Presently, reputation data doesn't transfer between verticals.

A wave of startups, including Connect.Me, TrustCloud, TrustRank, Legit and WhyTrusted, are trying to solve this problem by designing systems that correlate reputation data. By building a system based on "reputation API" -- a combination of a user's activity, ratings and reviews across sites -- Legit is working to build a service that gives users a score from zero to 100. In trying to create a universal metric for a person's trustworthiness, they are trying to "become the credit system of the sharing economy", says Jeremy Barton, the 27-year-old San Francisco-based cofounder of Legit.

trusted to pay on time

PeerIndex, Kred and Klout,

are measuring social influence, not reputation. "Influence measures your ability to drag someone into action,"

"Reputation is an indicator of whether a person is good or bad and, ultimately, are they trustworthy?"

Early influence and reputation aggregators will undoubtedly learn by trial and error -- but they will also face the significant challenge of pioneering the use of reputation data in a responsible way. And there's a challenge beyond that: reputation is largely contextual, so it's tricky to transport it to other situations.

Many of the ventures starting to make strides in the reputation economy are measuring different dimensions of reputation.

reputation is a measure of knowledge

a measure of trust

a measure of propensity to pay

measure of influence

Reputation capital is not about combining a selection of different measures into a single number -- people are too nuanced and complex to be distilled into single digits or binary ratings.

It's the culmination of many layers of reputation you build in different places that genuinely reflect who you are as a person and figuring out exactly how that carries value in a variety of contexts.

The most basic level is verification of your true identity

reliability and helpfulness

do what we say we are going to do

respect another person's property

His company, and other reputation ventures, face some big challenges if they are to become, effectively, the PayPal of trust. The most obvious is coming up with algorithms that can't be easily gamed or polluted by trolls. And then there's the critical hurdle of convincing online marketplaces not just to open up their reputation vaults, but create a standardised format for how they frame and collect reputation data. "We think companies will share reputation data for the same reasons banks give credit data to credit bureaux," says Rob Boyle, Legit cofounder and CTO. "It is beneficial for one company to give up their slice of reputation data if in return they get access to the bigger picture: aggregated data from other companies."

we will be able to perform a Google- or Facebook-like search and see a picture of a person's behaviour in many different contexts, over a length of time. Slivers of data that have until now lived in secluded isolation online will be available in one place. Answers on Quora, reviews on TripAdvisor, comments on Amazon, feedback on Airbnb, videos posted on YouTube, social groups joined, or presentations on SlideShare; as well as a history and real-time stream of who has trusted you, when, where and why. The whole package will come together in your personal reputation dashboard, painting a comprehensive, definitive picture of your intentions, capabilities and values.

idea of global reputation

By the end of the decade, a good online reputation could be the most valuable currency in your possession.

find new ways of efficiency

arbitration between efficiency and care

a global thinking of the problem

Fighting the attention and desire resource shortage: stoping to use advertisement?

The question is rather here to think the moderation of the psychopower

empower transindividuation, i.e. to make sure that an economic activity creates more possibilities of individuation than it tend to destroy by attempting to capture attention and canalize motivation in a funnel. Empower transindividuation would imply to empowering actors of their own lifestyle, winning back the savoir-vivre prescribing production

Should marketing stop using psychopower?

marketing ethics guidelines

transactions are more likely to be morally defensible if both parties enter it freely and fully informed

the goal of marketing should be to increase the likelihood and frequency of free and informed transactions in the marketplace

putting freedom as a criteria of morality

the industrial use of pycho- and neuropower tend to fall under the category of barriers to freedom

neurotechniques – to capture the attention

psychotechniques – to attempt to create motivation

Most people think commercials are a small price to pay for these benefits

advertising

denying the schemes of addiction and the fact that we are becoming through the objects of attentions

right to avoid attention capture by advertising

progress made in cognitive sciences proving that

reward system being abnormally stimulated

Advertisements exploit

vulnerability and reinforce their overconsumption behaviors

“if food advertising on TV were banned, significant reductions in the prevalence of childhood obesity are possible.” (Veerman et al. 2009)

What is at stake falls to be much more complex than the sole Freedom of Speech invoked for the advertiser

liberty of non-reception

would mean to guaranty every citizen the right to choose where and when he wants to access the advertising information

Change in the industrial and commercial paradigm

Economy of contribution and peer production

An economy of contribution means that users of a service are contributing to the production of these services.

example

is open-source software that are contributively build by potentially hundreds of developers organized in communities

minimize the gap between the producer and consumer

blur the frontier between professionals and amateurs

The Copernican revolution of the Vendor Relationship Management paradigm

change in the commercial paradigm, described as an Intention Economy i.e. the opposite of the Attention Economy

consumers are charged to express and discuss their intention

with businesses rather than the usual paradigm in which businesses where fighting for a piece of canalized motivation

Implementing such a system would nevertheless imply that marketing departments dispose of a system in which they could value their supplies and where they could be easily found by customers. Doc Searls promotes his answer to this issue: the Vendor Relationship Management system.

the belief that free customers are more valuable than captive ones — to themselves, to vendors, and to the larger economy.

To be free

1. Customers must enter relationships with vendors as independent actors.

2. Customers must be the points of integration for their own data.

3. Customers must have control of data they generate and gather. This means they must be able to share data selectively and voluntarily.

4. Customers must be able to assert their own terms of engagement.

5. Customers must be free to express their demands and intentions outside of any one company’s control.

This is a profoundly game-changing approach

big data that is the rush for consumers’ information potentially leading to the same dead-end of attention destruction and affective saturation than the former offline paradigm

VRM system working as a marketplace

the goal of marketing should be to increase the likelihood and frequency of free and informed transactions in the marketplace

less imperfect and less biased information in a cultural context overvaluing transparency, and a bigger atomicity due to the hereafter introduced trend for re-localized peer production.

3.2.2.3 VRM and externalization of the socialization process

Promoting the end of advertisement

means to find a new way to make the information circulate, what was the primary goal of advertisement

Until there is no alternative to massive advertisement campaign for the information circulation, it is indeed hard to ask entrepreneurs and managers to get rid of those successors of propaganda: such a transition process necessarily imply adaptation costs from the producer and the consumer side, and possible competitive disadvantage against competitors still maximizing profit through advertisement means

But the internet transformation of the general organology offers new way to think information circuits and potentially constitute an opportunity to externalize the socialization process of products that is to empower citizen-consumers organized in communities

Empowering groups of citizen doesn’t annihilate the risks of mis-use or counterproductive interest-taker behaviors but a well-designed system of trust between peers could minimize this risk by creating a dependency to what social capital other peers give you, as it is happening in the sharing economy: the credibility of a contributive peer would be guaranteed through what the P2P Foundation calls Feedback systems and peer-police

a strong structuration of products characteristics, allowing customers to personalize their choices according to their desire and constraints: such a “VRM+” system

Marketing would then be the art of being as high as possible in this ranking, as it is happening in SEO for search engines, but in this context of criteria explosion, marketing would then be the disciple of listening to customers’ wishes and aspiration needing an attention, in order to kick in the production or to adapt the following series.

3.2.2.4 Toward a possible equi-power

Such a system would tremendously re-configure the balance of power and tend toward a form of equi-power i.e. a social organization in which abuses of a “big” would be the potential object of a ranking sanction by the peers

self-regulative function

a form of economic Darwinism would let to conscious organization the right to curve their path toward a durable configuration in accordance with the social ecosystem.

the idea of equi-power is a form of homogenization of the social matter, in which the distortions in the balance of power would be compensated by the gathering of small forces sharing a common interest

Such a sanction systems, if successfully implemented, would make value-destructing businesses progressively decline and hopefully bankrupt,

long-term valuable strategic choice

long term satisfyingly high ranking

It would be utopic to think that the “being cool” marketing

would disappear, but marketers would have to make those two objectives compose together.

This social capital contagion is nevertheless a tool that would need to be controlled in its form of violence by extensive testings and iterations with forms of protections for the smallest peers, that is to say to keep this form of social violence to institutionalized, classic forms of businesses, clearly beyond the line of what should be acceptable in the global village.

the goal is here to create an artificial form of majority that is a self-censuring responsible behavior of corporations

Distributed ledgers have primarily claimed to supplant the need for Bitcoin's mining process by introducing trust requirements among participants. These ledgers also promise users the immutability of Bitcoin without the need for expensive mining operations.

the technology powering distributed ledgers predates blockchains by well over 20 years.

Proponents of distributed ledgers argue that they can displace centralized providers such as SWIFT,

by moving money faster

There’s no doubt that blockchain technology will facilitate disruptive innovations in finance

But a world of private ledgers sounds eerily similar to a range of “private Internets.”

Blockchain technology is useful not because it offers efficiency in a world of message-passing but because it uses a complex process to settle value between untrusted parties.

But distributed ledgers do not offer users the ability to easily convert their tokens and messages into fungible units of value. Nor do distributed ledgers escrow value between parties that don't trust each other.

If a ledger is not a public resource, it will have the pressures incumbent to existing settlement systems plus the overhead of maintaining a shared database among competitors. What efficiency will remain thereafter remains dubious.

Permissioned Blockchains

their institutional users will probably find it expedient to hash their private-chain transactions and use those hashes to create bitcoin addresses and then send tiny fractions of a bitcoin to them to register their data at a location that cannot be hacked or changed.

In other words, all private ledger/blockchains will lead to Bitcoin's Rome, driven there by its low cost and high public accountability.