>80% of Transactional Data is Wasted.
People and devices generate transactional data constantly, but >80% of that is informal and goes wasted. They’re not recorded in legal documents, structured systems, and are not verifiable.
Today, we are wasting almost all informal transactional data.
Being able to access and trust informal transactional data is what drives rapid innovation and growth. Smaller organizations and projects can leverage it because they witness the data first-hand. As organizations or projects scale, they are unable to trust this data because most stakeholders do not witness it directly and therefore do not trust it. Making decisions without data usually leads down a path of downfall.
Taraxa Democratizes Reputation by Tracking Informal Transactions.
Taraxa tracks informal transactions and makes them trustworthy with our purpose-built technology. By enforcing accountability, Taraxa makes informal transactions highly verifiable and trusted.
With enough informal transactional data, we can build a localized reputation network, enabling even most minor participants to acquire a reputation and be trusted in their dealings.
This is a big deal.
In today’s world, only the largest and most famous entities (e.g., companies, influencers, celebrities) have trustworthy reputations. Most of us toil in obscurity and cannot easily establish or prove our reputations to others. “Informal” transactions cannot build verifiable reputations.
By making even the smallest informal transactions trusted, Taraxa in effect gives every entity, be them a person, a project, or a device, a trusted reputation with rich context, removing a tremendous amount of friction from business (or personal) collaborations.
Join us to democratize reputation for the world!