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Reputation rating with TRIO Alternative Payments.

Updated: Mar 21

Current state-of-the-art.

What’s the first thing you do when seeking the services of a new business? Chances are you look them up on Google. More than 60% of customers check Google reviews online before they visit a business. Understandably, they want to check out the experience others have had with your company before they commit to you.

This is why Google reviews are essential and why you should try to acquire them. The first thing that appears when you search for a business on Google is the business' reviews and average rating, and if these are not good, chances are potential customers will go elsewhere.

What are Google reviews?

Google reviews are business reviews left by customers on the Google platform. When someone searches for a business in Google or looks for directions in Google Maps, reviews are one of the first things they will see.

All you need to have to leave a review is a Google account, and it is a free service. The popularity of Google as a search engine and Google Maps means that these reviews are much more widely read than those on websites like Trustpilot.

But there are inherent problems here:

  1. Customers are usually only driven to write a review if they have had a negative experience; this means obtaining lots of great reviews isn't something you can leave to chance.

  2. To solve that, you may provide buyers with incentives. Bad idea -never buy reviews. If Google suspects you of this, you will be penalized and pushed down in rankings.

  3. Your competitors may write you bad reviews.

This brings us to the issue that needs to be solved:

  1. How to incentivize Buyers to rate Sellers while keeping their objectivity.

  2. How to be sure that reviewers are not fraudulent? This is a huge problem :

Reputation System using TRIO Tokens.

After-sale is very important for the seller. If the buyer is happy with the purchase, more buyers will follow.

But the buyer's "happiness" can be bought since the “reviewers” and “followers” are not necessarily- buyers.

TRIO Online Trade system provides the Sellers with a unique reputation system that is trustworthy for all parties and provides real incentives to use.

On TRIO onboarding - each TRIO user (potential buyer) will receive some TRIO utility tokens (say 100). Following an online purchase (using P2P ETH transaction) and receipt of the goods or services from the Seller – he will send a Seller (with a TRIO account) some TRIO tokens on Testnet with the following amount, having the following meaning:

0.00 – terrible (*)

0.25- poor (**)

0.50- average (***)

0.75- good (****)

1.00- excellent (*****)

Since this transaction is done on Testnet – it costs nothing.

TRIO Online Trade System will correlate a sale (ETH transaction) with a reputation (TRIO transaction) and update the Seller score to the Public (all the data is completely transparent and can be independently verified).

The incentive to the Buyer.

Each time the buyer sends the reputation score with a TRIO token – he will get a discount on transaction costs. This incentive is independent of the Seller, so the rating is objective.

About TRIO tokens.

These are utility (for purpose) tokens. These tokens have no monetary value on Testnet. These tokens cannot be transferred outside the TRIO system and will not be traded on exchanges. Transfers of TRIO tokens between TRIO users will not influence the Seller's score if there is no purchase with an ETH transaction.

# of TRIO tokens on Testnet as Company Intangible Asset.

An intangible asset is an asset that is not physical, such as Goodwill, including brand recognition and customer loyalty. The number of #TRIO tokens on Testnet owned by the Company represents an accurate measure of Goodwill.

Who can use the System?

Any buyer and seller with TRIO wallet and TRIO tokens and any Online Trade system capable of correlating between the sale transaction and reputation transaction.

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