DES and Reputational Institute of Experts (RIE)

One of the main DES functionalities is investors’ decentralized decision for the fact of further financing based on appraisal of intermediate results provided by Startup.

As we understand, an ordinary investor is up to effective investments and does not have knowledges that could help him to objectively evaluate Startup interim results, and taking а decision blindly discredits the original purpose of DES — bring the Startup idea to the final product.

To solve this problem, DES is initiating the creation of Reputational Institute of Experts (RIE).

Reputation

Main characteristics of RIE:

1) RIE is a social blockchain platform to collect and store experts’ skills and experience.

2) RIE can be joined by a working employee of consulting, legal, financial, etc. companies passed preliminary accreditation over the key parameters. — — — — — — As well an external expert may join RIE, but along with at least 3 (three) recommendations from acting experts of RIE in his profile (lawyer, financier, etc.).

— — — 2.1) Each Recommender bears direct reputational costs in case of Recommendee reputation loss, that lay double responsibility on the Recommender and balance the entire RIE system.

3) Each RIE expert can propose his candidacy for Startup appraisal (work with Startup)

4) Decision to admit expert to work with Startup is made by majority of investors who vote by project shares (tokens).

5) Before ICO launch, Startup put into White Paper on number of experts with what competencies it will need to implement the project. Selection of experts is based on the recommended “Etiquette of Conduct / Business Protocol Rules”.

For example, according with “Business protocol” for Retail Startup, at least 4 experts are recommended: 1 — financier, 2 — lawyer, 3 — retail expert, 4 — (import/export) international business expert.

6) Expert selection is based on majority decision (overly 51%). If no candidate gets more than 51%, then the second stage is held, where leaders participate who lined up together overly 51% of all votes, and so on until one expert is selected:

Example:

Voting

7) Technically the election of experts takes place in the early days after the ICO’s end.

8) Each expert works on the Startup till the project execution. The expert has the right, only on his own initiative, to transfer his place to another expert due to personal / force-majeure circumstances, thereby direct dependence of the reputations of these experts arises, within the framework of the current Startup.

9) Upon completing Startup work (final product implementation), each investor evaluates expert’s job that affects his reputation.

Author’s note: A small conclusion in view of the above.

Ideologically, DES and created RIE initiate the formation of:

- Startup business ethics;

- Experts application procedure and evaluation of their work that imply the active involvement of investors in the process.

This promote the culture of investing in society and attract attention to irresponsibility, that combined with Blokchain, the technology of uncompromising online trust, create favorable investment climate offline.

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Decentralized Escrow

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Assistant for safe investments and the independent vote.

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