Blockchain - Driven Trust Management For Secure And Transparent Online Commerce

Despite the growing success of online commerce, problems such as fraud and lack of transparent reputation schemes are still present and represent single points of failure in the current intermediary-based models. In this regard, the following paper suggests the development of blockchain-based trust management system which would provide for trustworthy verification of participants' identities, smart-contract based escrow, and reputation scoring on-chain. The suggested methodology implies the use of W3C-compliant Decentralized Identifiers, two-blockchain system, and automated dispute resolution mechanism. Further comparative evaluation of the suggested system in terms of transparency, fraud prevention and implications for international trade is conducted. The paper concludes that the suggested trust management infrastructure represents a structurally robust solution to centralized reputation models.