New Bitcoin website aims to promote trust in vendors

Daniel Pryor March 26, 2014 0
New Bitcoin website aims to promote trust in vendors

Daniel Pryor reports on the upcoming launch of TrustHub – a Bitcoin transaction-rating service.

The weird and wonderful world of Bitcoin can be intimidating for the novice. With a plethora of vendors buying and selling bitcoin in various ways, it can be hard to know which are the most reliable, fast and user-friendly. The Bitcoin community could do with some self-regulation; the incentive for vendors to provide the best possible service could be magnified if they were made more publicly accountable.

Cal Paterson and Thomas Stringer – co-founders of TrustHub – are aiming to do just that. Timetabled for launch in early April, TrustHub will be a service whereby users rate particular bitcoin transactions: the goal being to aggregate ‘trust ratings’ (or reputational scores) for vendors. Functionality for reviewing transactions is also planned in the medium-term, and authenticity of vendor ratings will be assured through a certification system that proves users own a Bitcoin address.

Speaking to The Backbencher, Mr Stringer explained his motivation behind setting up the site:

“The aim is to allow people to fully utilise the promise of bitcoin, and of internet commerce in general. We want to make fully peer-to-peer trading more attractive.”

It is worth noting that TrustHub are currently looking for test users ahead of the site’s official launch. They can be found on Facebook and Twitter, and those who are interested can subscribe to their feed so they don’t miss out on the launch. Stringer and Peterson have the full support of The Backbencher, and this website hopes that TrustHub will prove a valuable aid to improving the quality and accessibility of cryptocurrency transactions.

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