Token Curated Product Registry
Token Curated Product Registry (TCPR) is a decentralized system of curation of product information, which creates a reliable database recorded on the blockchain and maintained by the community, which receives intrinsic incentives in WWIRE tokens as rewards.
In the TCPR, token holders are given the responsibility of curating the information in the database. They are incentivized to do so by earning rewards in the form of tokens for accurately and truthfully curating the information. This incentivization mechanism ensures that token holders have a vested interest in maintaining the accuracy and quality of the information in the database. In addition, the decentralized nature of the TCPR means that there is no central authority or intermediaries that can manipulate the information, providing a level of trust and transparency to users.
The TCPR system is being built by Wireshape around the TCR concept and the pioneering work done by Mike Goldin from ConsenSys in his Token-Curated Registries 1.0 paper which can be read here.
Users and Roles
In the Token Curated Product Registry (TCPR), there are four types of users: consumers, applicants, voters and brands, and each one has its roles, interests and incentives around the registry.
-
Consumers: desire high-quality product information for free.
-
Applicants: desire their data contribution to be included in the registry, get rewards and increase the scarcity of the tokens they hold.
-
Voters: desire to get rewards and increase the scarcity of the tokens they hold.
-
Brands: desire their products to have high-quality information and be trusted by their customers.
TCPR Workflow and Main Features
Product Registration Application
Contributor makes an application with complete product information and image, which are recorded on the blockchain and stored decentrally in IPFS.
Curatorship
A 24hr voting period is provided for each product registration application. Curator Contributors can vote for or against an application, evaluating the accuracy and quality of the information.
Product Registration
After counting the votes, the application validated by the weight of the majority of votes from the curators is whitelisted, that is, it is flagged as validated and thus becomes part of a list of valid product registrations on the blockchain.
Product registration update
It is the challenge created by an applicant for an already registered product, with updates to its information or images. It also goes through a 24-hour voting period and if whitelisted, it updates the data in the registry, keeping the history of all applications in the blockchain.
Brand domain verification request
Authorized brand representatives can request brand domain verification and become authorized to officially register and validate product data for the brand.
Brand verification
Authorized brand representatives who have a verified brand domain in the system can apply to have their brand's product data validated by the brand itself.
The interplay between these four user types creates a decentralized and self-governing system, where the accuracy and quality of the information in the TCPR is maintained through a process of voting and incentives.
Check out how Incentives, Transactions & Rewards work by accessing the section Rewards.