Coreto – The Evolution and Future Plans of our Decentralized Reputation System

Just over three years ago, we embarked on a significant journey with a pivotal question at its core: “How do we measure REPUTATION online?”

After extensive research, we envisioned a system that challenges the status quo of all previous reputation systems. A system that takes into account both subjective and objective reputation, and adheres to the core of blockchain philosophies like openness, security, privacy, ownership, and accessibility.

To demonstrate the potential of our concept, we launched the Coreto Platform – a digital playground targeted at web3 users, where we implemented the first version of our reputation system, later to be known as the Coreto DRS.

The current version of the Coreto Platform offers a core set of features that allows its users to build an online reputation based on their online activities. While it hasn’t received major updates lately, the future of the platform is already mapped out, with lots of features awaiting implementation.

Once we established its use case and tested the theories behind the reputation system, we released the first stand-alone version of the Coreto DRS in September ’22 during the biggest live event of the NEAR Ecosystem – NEARCON ’22.

Now implemented in the Coreto Platform, it acts as the first working example of what can be achieved through the power of decentralized reputation, highlighting the potential of the Coreto DRS as a powerful tool to be used in other online platforms and ecosystems.

The beginning of the last bear market presented us with both a great challenge, as well as a great opportunity. Despite limited resources, we remained committed to progress, using this period to strategize and adapt.

As we always do, we have approached both with commitment and determination.

Having forged good partnerships and collaborations within the NEAR Ecosystem by this point, at the beginning of 2023 we brought together over 20 projects and collaborated on a large-scale engagement campaign across multiple weeks – #ReputationIsKING.

Experimenting with new and innovative ways to reward and attract users and drive engagement, the campaign proved successful. It demonstrated the power of multiple different projects coming together under one “umbrella” for the same goal.

Armed with a working Decentralized Reputation System, a live implementation as part of a reputation-based crypto platform, and having proven that the core idea of online reputation can bring together a large number of strong projects, regardless of their industry or profile, we took a step back and analyzed all best ways to move forward.

Understanding the Future

The Coreto project is a lot more than just the sum of its parts. It’s more than the platform, more than the DRS and more than a creative community engagement campaign. Coreto is a vision. It’s a meritocratic ecosystem in the making.

And our goal is to change the way people look at online reputation, forever!

The heart of our project is without a doubt the Coreto DRS.

It is the engine behind the Coreto platform, it is the binding force that opens up partnerships and collaboration opportunities, and it is the foundation on top of which we will keep building products and business verticals, now and in the future.

This is why we have dedicated ourselves to solidifying its position as the core of our reputation-based ecosystem. From usability to availability, from security to reliability, and from utility to monetization, we have adjusted and improved upon our original plans and have mapped out every aspect of the next 2 to 5 years.

We started by growing our already valuable advisory team, with additions to our business growth and marketing specialists. We have been working closely with them to prepare a significant upgrade to our Go-To-Market strategy, branding, communication, growth and adoption.

We are close to completing the needed preparations and kicking off a series of major brand upgrades, announcements, communication and growth actions, positioning our project as the leading force of a new era for online reputation.

Another very important aspect that we have greatly focused on is building a strong economy.

We now have an improved economic model that provides the needed incentives and benefits for adopting the Coreto DRS and DRS related products by everyone – users, businesses, and ecosystems alike.

This also includes the best monetization strategy to make our services accessible and affordable for everyone, all the while ensuring that our project not only grows but thrives as we continue to build.

This also includes exciting new opportunities for our investors, be them new holders that are just now joining our project, or faithful investors who have been with us from the beginning.

More information about how our upgraded economic model will function and the benefits it will bring to our community, partners, and product users will be released in the near future.

And since growth doesn’t happen in a bubble, we have continued to look for more strategic partnerships, as well as to solidify and bring to fruition existing collaborations. As part of our adjusted GTM strategy, we’ve adapted the DRS capabilities to encompass community growth platforms for projects seeking to better understand and target their new users.

The bear market has forced everyone to adjust, and with these adjustments, some priorities have shifted in order to adapt and survive. We understand this very well, as we have also needed to face these challenges.

But regardless of the challenges, we have kept our partnerships active and have continued to explore all opportunities and prepare together for the future.

We are already working with multiple partners – both new and old – to have the Coreto DRS implemented into other platforms and ecosystems, and there is active development taking place towards this goal, on multiple fronts.

As with every long journey, the first step is always the hardest to take.

But with dedication, resilience and determination, we are now prepared to take this step and show to the world the power and benefits of a new approach to reputation.

The next 5 years will bring the adoption of the Coreto DRS as the core reputation system in multiple existing ecosystems, and the creation of the first true meritocratic  ecosystem, spanning all corners of the internet.

With the Coreto DRS as the core, we plan to bring to life new reputation-based tools like reputation management, powerful reputation-based analytics, proof-of-reputation, achievements, reputation based promotion tools and services, incentives, rewards and much more.

We know that we have been quiet in the last few months. Maybe a little too quiet. But we plan to change this. Having been working on so many aspects of our project required our full energy, attention and effort, and multiple pieces have to be in place for everything to click.

Technical requirements, working closely with our partners and advisors, preparing our go-to-market strategy, planning and coordination, design and branding, validating new tokenomic models, coordinating with new and existing partners and much more behind the scenes work needed to happen for us to reach the next stage in our vision.

We remain dedicated to this vision, and we believe that the last few years have only made us stronger and proved the need for a new approach to online reputation.

We are here to unlock this new superpower!

Join us!