Pandora Boxchain Creates Reputation Token for the Ethereum network

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The Pandora Boxchain team have accounced they have created a reference implementation of the ERC1329 – Inalienable Reputation Token during ETHBerlin Hackathon and the first version of ERC1329 token is available on GitHub.

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Co-founder of Pandora Boxchain Maxim Orlovsky said:

“Reputation token is not a replacement for usual tokens with economic value and market price. It’s an addition on top to them, that is sometimes (not always) needed to build provably-secure incentivisation system.”

Why a Reputation Token Is Important?

When building trustless decentralized P2P networks, we may need to utilize multi-stage/repeated games (in terms of game theory). In such cases, reputation becomes the measure that helps to build economic incentivization schemes for the selected economic game. The reputation works as a “glue” that ties together the actor responsibility over time, creating an ability to utilize the strengths of repeated economic games. The main property of such reputation should be inalienability.

In this case, reputation system needs some specific kind of token, that can’t be transferred between actors. Why? Because if the reputation may be transferred, it can be sold; and if it can be sold, it breaks the whole game setting and economic incentives, creating different Nash equilibrium and generally getting worse protection from malicious actors (lower Byzantine tolerance). Also, we should remember that private keys of the account can be compromised, so the owner can loose tokens but not reputation.

The project’s goal is to create world decentralized artificial intelligence the same way Bitcoin has created world decentralized payments and Ethereum — world decentralized computer. The Pandora Boxchain’s team believes that our world will be expanding into decentralized artificial intelligence soon, and thus decentralised, trustless, and global computing network is needed. That’s why the team is creating Prometheus Consensus, their own consensus protocol. This uses Reputation and Stakes mechanics to protect the network from being compromising by malicious behavior of some participants.

Currently the team invites blockchain developers, visionaries and end-users interested in AI to enter into discussions about future of the Blockchain, AI and ML, share ideas and take a part in developing open source ecosystem of Pandora Boxchain. You can get more information on the official website, telegram channel or reddit.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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