The Value of Trust and MTP’s Reputational System
Trust cannot be undermined, it cannot be understated, and it should never be broken. This is true, especially for the e-commerce market that solely relies on trusting the other party, which might be present in a different part of the world. However, lack of regulatory frameworks and other barriers have given an open opportunity to the dishonest and cheating companies and people. MT Market and MT Wallet will resolve these issues quite easily, you can check them out and see for yourself.
If you have never suffered from them, that does not mean that they are not affecting you. Due to such ignorant and dishonest enterprises, the trust people had on internet, is vanishing quickly. Less and less people want to buy products from the internet, especially if the product is made in some other country than their own. Consequently, this is damaging international trade and will eventually slow down the economies. That will directly impact the way you live your life.
It’s not uncommon that people suffer due to these dishonest people, all of us have received inaccurate products that we ordered online. Eventually, this will bring the e-commerce and the international trade sector to a standstill, unless precautionary measures are taken, and consumers and clients are protected.
CIGI-Ipsos Global Survey was conducted between 2016 and 2017, on Internet Security and Trust. The survey involved more than 25 countries from different parts of the world. The result from the survey showed that almost 74% of the participants feared and worried about privacy and trust from the internet companies.
The survey reveals an alarming situation that needs to be addressed and luckily, ModulTrade is offering a solution, just for that. Through the use of blockchain, the issue of trust can be effectively addressed. Blockchain is there to offer transparency and authenticity, both of which are very important in international trade.
ModulTrade is Developing a Reputation System
The MT Marketplace is a place that has been developed to support and promote international trade. It has all the required features that a good trading platform requires. Moreover, the platform is backed by an immutable blockchain, which means that the transactions written on the network cannot be deleted or altered in any way.
ModulTrade is revolutionizing trade in this way and improving the trust that is usually not found between clients and customers. The ModulTrade Reputational Network ensures that only the honest, hardworking traders get to the top. As the name explains, the reputational network is there to contain the reputation of the users of the system.
Having a positive reputation on the network will ensure that the user attains higher number of orders and other perks from the network. The Reputation Network is one of the four main tenants of the ModulTrade Value Ecosystem (MVE). MT has ensured that “trust” plays a central part in the system and the clients and the buyers, can both trust the other party. As such, the system will automatically filter out dishonest and bad players and will leave a pool of honest and righteous traders.
Blockchain is influencing almost all sectors of the industry, ModulTrade is focused on revolutionizing and reinvigorating the international trade. To read more about the project, you can access the following links: