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Business Reputation Systems Based on Blockchain Technology - A Risky Advance

  • Reputation is indispensable for online business since it supports customers in their buying decisions and allows sellers to justify premium prices. While IS research has investigated reputation systems mainly as review systems on online platforms for business-to-consumer (B2C) transactions, no proper solutions have been developed for business-to-business (B2B) transactions yet. We use blockchain technology to propose a new class of reputation systems that apply ratings as voluntary bonus payments: Before a transaction is performed, customers commit to pay a bonus that is granted if a service provider has performed a service properly. As opposed to rival reputation systems that build on cumulated ratings or reviews, our system enables monetized reputation mechanisms that are inextricably linked with online transactions. We expect this system class to provide more trustworthy ratings, which might reduce agency costs and serve quality providers to establish a reputation towards new customers.

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Author:Simon Hemmrich
Parent Title (German):Konferenzband zum Scientific Track der Blockchain Autumn School 2023
Publisher:Hochschule Mittweida
Place of publication:Mittweida
Document Type:Conference Proceeding
Year of Completion:2023
Publishing Institution:Hochschule Mittweida
Contributing Corporation:Universität Paderborn
Release Date:2023/10/11
Tag:Business Reputation System
GND Keyword:Trust; Risiko; Blockchain
Page Number:8
First Page:42
Last Page:49
Open Access:Frei zugänglich
Licence (German):License LogoUrheberrechtlich geschützt