If you’re reading this article, odds are you’ve also used the Internet to connect with others online for the exchange of goods, services, or personal information.
But what if the person on the other side wasn’t who they said they were and had an ulterior motive?
The Internet, in all its peer to peer beauty, is still very anonymous at the end of the day. Scammers, fraudsters, and fakers can lead to a number of issues that undermine the peer to peer trust that many modern services are built upon.
To counter this reality, entrepreneurs Darrin Edelman, Austin O’Brion, and Kevin O’Brien formed Token Of Trust on a mission to make our online experiences more secure and rewarding. Not all of it, everywhere, specifically in the spaces where identity and trust are crucial to continuity of community.
By cross-referencing profiles from Facebook, LinkedIn, PayPal, and using goverment issued ID and credit card data, Token of Trust provides multi-factor verifications to determine degrees of legitimacy. Logical applications include dating websites, property rentals, marketplaces, and sharing economy apps dependant upon full faith in the system.
Token of Trust began as a consumer-oriented application, but now sees the big picture opportunity in a B2B model with integrators as customers who embed their technology. There are none paying for it yet, although Token is piloting the service with unnamed early testers.
“We’re not reinventing the wheel, but we are making it more accessible to the masses,” Edelman says, pointing to ‘home brew’ examples like AirBnB who already have their own custom solution implemented.
“Doing this in house can be much more expensive, riskier and really out of reach for many. There’s a lot of false assurances out there already…the gaps and loopholes that currently exist in many popular services will be necessary to address for their long term sustained success.”
Officially launching today, Token of Trust was recently selected as a Web Summit ALPHA Class of 2015 company and will be presenting at the conference in Dublin, Ireland next week.