Eric Ly, Linkedin co-founder launches ‘Hub’ a new blockchain trust protocol network that aims to provide people with verified portable reputation data, to encourage more trustworthy online interactions and transactions.
Hub, refers to itself as a ‘human trust protocol’, to some extent it is like an Experian rating system for your integrity, loyalty and trustworthiness, as opposed to just your financial management capabilities.
By facilitating connections between users on the internet in areas such as messengers, online communities, social networks, and peer-to-peer marketplaces, Hub aims to make it easier for users to interact with each other, while maintaining trust at all times.
Utilising blockchain technology, it incorporates a HUB Token that people use to build a Hub ‘trust score’, complete with a record of interaction histories and reputation data, demonstrating expertise and credibility through their past history of successful interactions. This trust score will be portable, verifiable and interoperable across applications, and most importantly, the user will retain full control at all times, empowered to decide how it is accessed by applications and communities.
Users will interact with the Hub rating system through the Hub app, a professional network connecting communities and marketplaces. The aim is to deliver unprecedented levels of trustworthy engagement and opportunity, by integrating the Hub Human Trust Protocol within the Hub app.
Interestingly, in response to the highly publicised trust issues surrounding Initial Coin Offerings (ICO), Hub has applied its technology to develop the ‘ICOHub‘, a reputation system around ICOs, for which it recently debuted a new UI design, in it’s effort to launch a proof of concept imminently.
Hub is yet to ICO itself, however it is no surprise with Ly having built LinkedIn, a $26 billion technology company, that the new blockchain trust protocol has already received extensive investment from more than twenty venture capital (VC) and angel investors, including Sway Ventures, Bitfury Capital and H Capital, also an investor of ConsenSys a venture studio supporting developments that operate on the Ethereum blockchain.