from #TheNTWKTalk “Platforms implementing tokenization (and their use cases)”
Do you want to know about traditional reputation system vs tokens? Watch what Ceki Morhayim told to us:
Takeaways:
- In the traditional reputation system, you rely on a centralized reputation data that is owned by a centralized entity. Who can also change the data at any time they prefer. They also need intermediary platforms, which actually increases their costs
- In Flambu, in each transaction users need to stake some amount of flame tokens for the trans transactions. And if they misbehave, they lose their tokens and they lose real value. So we believe that these kinds of reputation models will also be implemented by many other platforms
- Network effect: the more users we have, the more users contribute, the more reviews, and the rewards they earn
💡 For more on this topic, follow Platform Economy and Business Ecosystems and access the full🎙🎙Recording Session on TheNTWKEvents Node