The science of social proof
“Social proof is a natural, built-in mechanism within all of us, representing people’s moral compass.”
Based on a personal risk assessment, a guarantor vouches for a trusted friend by means of a financial guarantee. This creates a positive incentive for the friend to act as a responsible insurance client. Through vouching, the entire network becomes more risk aware, encouraging a positive change in behavior.
interesting approach
Topic: [IPL] VouchForMe | Distributed social proof insurance - page 3. (Read 2731 times)
nice to see some price movements
I'm sorry but social proof is ridiculous. It's not a fair system. It can be manipulated. What if someone has no friends, and they like it that way? Also, most people are not honest. Using feedback on a service is great, but on an individual is scary. Why? Have you tried to sell on eBay ever?
People for money can leave any positive feedback. So the trust system between friends does not work. In any project where there is something other than proof of ownership or proof of strength there will be no success. Although it will and show something interesting, but I definitely will not invest in such an idea.
I'm sorry but social proof is ridiculous. It's not a fair system. It can be manipulated. What if someone has no friends, and they like it that way? Also, most people are not honest. Using feedback on a service is great, but on an individual is scary. Why? Have you tried to sell on eBay ever?
Social proof is not asking only friends to guarantee. Also, your family (father, mother, brother) or co-workers can guarantee. If somebody has no intimate social circle he is not a good target for social proof. And eBay is a perfect example of using social proof. Currently, platforms like eBay enable policing and trust among members (and charge a hefty price for that). If we do it with social proof it means that in order to do the trade the other party - selling party- has to show that he has guarantees from friends, family, co-workers. In case that product received from the seller has not been as promised guarantors can be charged again if the product does not have promised features. Or to put it simply if you sell me an iPhone and instead I get Huawei phone I can get the funds back from your guarantors (and you get your Huawei phone back).
History has shown that most of the communities that were below 150 members did not need police, governmental structures since they were able to self-regulate themselves.
Product
VouchForMe is a web application based on blockchain technology that enables users to vouch for their friends' diligent behavior. By effectively sharing their insurance edeductible with each other, users enjoy lower insurance premiums. The guarantees a user obtains provide social proof - this is the vehicle that makes VouchForMe the global go-to solution for insurance and various gig economy areas.
https://vouchforme.co/product/
sounds great - we will see adoption in next years
I'm sorry but social proof is ridiculous. It's not a fair system. It can be manipulated. What if someone has no friends, and they like it that way? Also, most people are not honest. Using feedback on a service is great, but on an individual is scary. Why? Have you tried to sell on eBay ever?
I also feel that this would end up to be a very exclusive service for those who are privileged anyway.
I'm sorry but social proof is ridiculous. It's not a fair system. It can be manipulated. What if someone has no friends, and they like it that way? Also, most people are not honest. Using feedback on a service is great, but on an individual is scary. Why? Have you tried to sell on eBay ever?
If people are somehow on their own and don't have a ton of friends, will it be still possible for them to build a reputation within the network?
This is a very difficult question. Usually you always have to start somewhere. Glory doesnt come immediately and requires a very long and hard work. Without this job there is almost no chance of success.
They are trying to do something interesting though of course the chance is very small. This site is already occupied by the largest companies in the world.
It has to start somewhere, but if people with large networks get a head start it may discourage others to get involved. Would be good to know how you can that build up your reputation.
VouchForMe will be a community-wide project for the insurance sector. But how will fairness and transparency be done by VouchForMe?
If someone knew the exact answer to this question, he would have become a very, very good man, I think. Let's see what the team will show, but at the moment I'm not impressed.
You can see on beta platform right top button and you will get that form for report feedback (also attach screenshot of idea or problem)
i send 2 little typoo's other is very clean and simple to use have no other comments for now
VouchForMe will be a community-wide project for the insurance sector. But how will fairness and transparency be done by VouchForMe?
You can see on beta platform right top button and you will get that form for report feedback (also attach screenshot of idea or problem)
This is usage of IPL token ecosystem on platform i think
How IPL tokens could be used
As an Insurance Premium Bonus
To obtain new insurance, the insured will have to upload a photo of their existing insurance policy so that VouchForMe can calculate a discount.
Doing so, every client will receive a specific number of IPL token (20% less for a cash discount), growing proportionally with the number of endorsements received.
As Credit Score and social Proof Score
Social proof endorsers will be able to make the guarantee with the credit card or via a smart contract.
Their social proof guarantee will consist of relevant information on the client (the insurance holder) and will serve to them as a credit report. If several endorsers will guarantee for the same person, their credit score will proportionally increase in value. In parallel to token transactions, these information will be stored in the general ledger being partially encrypted and partially public. The encrypted part will only be disclosed publicly if its holder approves.
As Claims Adjustment
In the future, the VouchForMe may appoint some members of their VouchForMe community to process and report on the claims, a service that will have a financial incentive.
Claims which will go beyond an agreed threshold (exact amount to be decided) will be decided by professional claims adjusters who will report their recommendations to VouchForMe before informing the client. In essence, there will be no need for an insurance company involvement as everything will be settled by the community on the bases of blockchain and smart contracts.
For Insurance of Blockchain Business Transactions
This type of insurance will be conducted in IPL tokens solely.
The incentives for the endorsers will be paid in IPL tokens as well, whereas their guarantee can be done with other means as well. All fees coming from the side of possible participating insurance companies and other third-parties will have to be paid with IPL tokens too.
As an upfront Incentive
For each new social proof guarantee, the endorser will receive an incentive in local fiat currency or in IPL tokens.
The endorser will be able to sell the IPL tokens immediately, speculate and wait for an even higher market value or save them to buy/renew their insurance policy in the future or to pay some services at shops where they will accept IPL.
As a Social Proof Identity
The clients holding IPL will be able to identify themselves within the VouchForMe Community.
In the long run, they will be able to sell their own social proof guarantee without revealing their identity to institutions or reinsurers in order to get the guarantee and a proportionate share of their insurance premium.
How IPL tokens could be used
As an Insurance Premium Bonus
To obtain new insurance, the insured will have to upload a photo of their existing insurance policy so that VouchForMe can calculate a discount.
Doing so, every client will receive a specific number of IPL token (20% less for a cash discount), growing proportionally with the number of endorsements received.
As Credit Score and social Proof Score
Social proof endorsers will be able to make the guarantee with the credit card or via a smart contract.
Their social proof guarantee will consist of relevant information on the client (the insurance holder) and will serve to them as a credit report. If several endorsers will guarantee for the same person, their credit score will proportionally increase in value. In parallel to token transactions, these information will be stored in the general ledger being partially encrypted and partially public. The encrypted part will only be disclosed publicly if its holder approves.
As Claims Adjustment
In the future, the VouchForMe may appoint some members of their VouchForMe community to process and report on the claims, a service that will have a financial incentive.
Claims which will go beyond an agreed threshold (exact amount to be decided) will be decided by professional claims adjusters who will report their recommendations to VouchForMe before informing the client. In essence, there will be no need for an insurance company involvement as everything will be settled by the community on the bases of blockchain and smart contracts.
For Insurance of Blockchain Business Transactions
This type of insurance will be conducted in IPL tokens solely.
The incentives for the endorsers will be paid in IPL tokens as well, whereas their guarantee can be done with other means as well. All fees coming from the side of possible participating insurance companies and other third-parties will have to be paid with IPL tokens too.
As an upfront Incentive
For each new social proof guarantee, the endorser will receive an incentive in local fiat currency or in IPL tokens.
The endorser will be able to sell the IPL tokens immediately, speculate and wait for an even higher market value or save them to buy/renew their insurance policy in the future or to pay some services at shops where they will accept IPL.
As a Social Proof Identity
The clients holding IPL will be able to identify themselves within the VouchForMe Community.
In the long run, they will be able to sell their own social proof guarantee without revealing their identity to institutions or reinsurers in order to get the guarantee and a proportionate share of their insurance premium.
VouchForMe IPL token is available on Livecoin, Mercatox, HitBTC, CoinBe, Idex, Etherdelta, Forkdelta
looking interesting
where can i buy token?
where can i buy token?
Vouchforme launch in Las Vegas
Would you vouch for your friends and help them offload their insurance deductibles? Give VouchForMe a test drive at closed beta testing. Sign up at https://vouchforme.co/beta/
Stand has been this busy for the last couple of days at WorldCryptoCon
https://Vouchforme.co
Would you vouch for your friends and help them offload their insurance deductibles? Give VouchForMe a test drive at closed beta testing. Sign up at https://vouchforme.co/beta/
Stand has been this busy for the last couple of days at WorldCryptoCon
https://Vouchforme.co
If people are somehow on their own and don't have a ton of friends, will it be still possible for them to build a reputation within the network?
This is a very difficult question. Usually you always have to start somewhere. Glory doesnt come immediately and requires a very long and hard work. Without this job there is almost no chance of success.
They are trying to do something interesting though of course the chance is very small. This site is already occupied by the largest companies in the world.
If people are somehow on their own and don't have a ton of friends, will it be still possible for them to build a reputation within the network?
thank you for beta - so we investors can first try platform
keep up the good work and continue with all that
keep up the good work and continue with all that
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