Drep (DREP) ICO Review & Analysis - Drep ICO Review & Token Analysis
Drep is a decentralized reputation ecosystem comprising of a public chain, a reputation-based protocol and the tools for Internet platforms to leverage its power
DREP enables Internet platforms to quantify, monetize, and share reputation value. Drep aims to push forward a more engaging, high-quality and interconnected Internet community.
Use-Cases:
- E-commerce Platforms – Platforms trading physical/virtual products or services where transaction is dependent on the reputation of sellers and buyers.
- Social Platforms – Platforms having more user-specific features where reputation is reflected by user behavior.
- Content Platforms – Platforms providing PGC/ UGC content where reputation is focused on content quality and popularity.
“The ultimate goal is to unleash the value of untapped internet reputation and push forward a more engaging, high-quality, interconnected internet community, benefiting both platforms and users.”
Positives -
- DREP is creating more than just a reputation platform. The team are looking to create a system that enables websites, services, users, etc, to receive a rating. Assuming DREP garners adoption, everything on the internet will have a “rating”. While it’s obviously up to Websites and Users to adopt the system and not everybody will, it’s a model that is very refreshing. If everything on the internet had a reputation attached to it, exploring and using different websites/services would be a lot easier and safer for the average user. Due to the nature of blockchain technology, reputations would not be able to be tampered with or “hacked” to mislead other users. It’s an ambitious project but it’s a model worth exploring.
- DREP has strategic partnerships with projects such as QTUM and Quarkchain, not to mention organizations such as the Nanyang Technological University of Singapore. Partnerships are extremely important to this type of business model and the Team needs to get this solution in front of the right people to start gaining traction. If they can take advantage of these partnerships the platform will benefit greatly.
Concerns -
- Reputation platforms are really at the mercy of the end user. Centralized reputation models have given this type of model a bad wrap and Websites/services are still getting away with writing their own reviews or paying users for good reviews. We’ve seen centralized platforms try this model over and over again but if websites/services aren’t interested in integrating a reputation based platform, users aren’t really going to notice. It’s not like users are going to refuse to visit a website or use a service if they can’t find good reviews/ratings on it, clever marketing is usually enough to persuade a user. This isn’t a concern for DREP specifically but it’s worth thinking about.
- Our main concern with reputation based platforms is the power that it gives to users with a high rating. Voting can be influenced by a user who has a high enough reputation to do so. No matter the hurdles that DREP puts into place to stop malicious activity on the platform, people will always find a way to get around it or make it work for their own benefit and unfortunately this is just how things go sometimes. It’s not really DREPs fault if users figure out how to game the system, some people are just dodgy.
Token Sale Details -
Whitelist: TBA
KYC: TBA
ICO Token Price: 1 DREP = 0.0110 USD
Excluded Countries: TBA
Bonuses: TBA
Tokens For Sale: 30%
Min/Max Cap: TBA
Accepts: ETH
ICO Period: TBA
Official DREP Links -