Interview with Xin Chung CEO of TrustCloud ( #TrustCloud )
- Homepage TrustCloud: ( https://trustcloud.com/ )
- Information: Introduction, information etc. please read this PDF
- Facebook Fanpage: https://www.facebook.com/trustcloud/
- Facebook Group: https://www.facebook.com/groups/trustcloud/
- LinkedIn Company: http://www.linkedin.com/company/746927
- Twitter: https://twitter.com/xinchung
- TrustCloud Card Xin Chung: https://trustcloud.com/!/XinChung
QUESTIONS to Xin Chung, CEO TrustCloud:
1. What is the 140 character definition of TrustCloud?
“TrustCloud empowers you to claim your trustworthy data and use it anywhere”
( easy ReTweet: http://goo.gl/106gv )
2. How did you get the idea to start TrustCloud, where does TrustCloud fit in the ecosystem and how do you see the future of TrustCloud?
TrustCloud first product, www.whatsupgo.com experimented with the strength of bonds between friends. Facebook Friend Groups and Google Circles functionality encouraged us to address trust between “reputable strangers”
3. Why should I use TrustCloud over other “similar” networks, what makes it different?
TrustCloud is different from other networks because we address the problem of trust in peer marketplaces using a 3 layer approach: Verification, Behavior, Transaction. We focus on trust attributes that are help in making a p2p deciscion. Klout measures influence; endorsements by topic, Connect.me measures expertise by topic, Zerply measures wide, legit.com, getscaffold.com : still waiting for their products!
4. One of the concerns that some users have is the security of TrustCloud members information, particularly for those accounts linked to TrustCloud that conduct real world financial transactions such as eBay. What level of information is accessible to TrustCloud (on eBay for example) and how do you protect your members information?
TrustCloud takes user privacy and data security very seriously.
A. It’s important to know that TrustCloud does not pull any actual financial data from our Trust Network sources.
We mainly gather:
– transactional data such as user reviews, ratings, and feedback.
– bio data, much of which is shared publicly by the user already
B. All sensitive data is double encrypted by two separate algorithms in our database, and protected by SSL encryption on our website
C. Access to our PII user data is controlled by ACL access lists, further limiting exposure to outside sources
D. When our members opt out or ask us to remove their profile, we go to great lengths to make sure their data is actually destroyed
5. Have you conducted any research to see how people judge other people with whom they meet in person versus online? And can you add a layer which includes the context in which trust is being declared? For example, I do not “know” the doctor I am seeing today, yet I trust him/her based on recommendations, degrees, bedside manner. I do not know Berrie Pelser but I trust him based on his thoughtful commentary, the links he posts, his website, his full profile on LI, etc.
TrustCloud has ongoing research with Stanford University Sociology Department regarding the user of “transitive reputation/trustworthiness” that degrees of referrals give. We also have inhouse trust expert from Harvard, Mr. Charlie Greene www.trustedadvisor.com who has 3 books and extensive knowledge on trust formula and metrics in business.
6. What will be the strategic intent between TrustCloud and Connect.me and what can we expect from that and what is your strategic intent to get more perspective or integration with the big business networks – aka Empire Avenue, LinkedIn groups, Facebook Fanpage, Google+ Business Page, Web of Trust (WOT), Xeeme, BrandYourself, Youtube, Viadeo, Pinterest, Xing etc.?
TrustCloud is a founding member of Connect.me’s Trust Respect Network. We will be working with other companies in the Verification and Trust space to develop interoperable models of trust for an emerging federated identity ecosystem.
7. What’s reasoning for +T badge options such as Organized, Reliable, Friendly as they could come across as kind of fluffy and not very business-like?
TrustCloud has chosen these attributes because they are so important for the sharing economy that we are addressing today. While difficult to measure objectively, these are very important subjective endorsements that our collaborative consumption users really care about.
8. What is your stance on such EAv or Flavors missions asking others for a +T?
TrustCloud is careful not to diminish the meaningfulness of our brand from excessive “gamification” for the sake of more users. However , as LinkedIn, Klout, Connect.me, Zerply begin expand their vouching systems, we think endorsement data can become more valuable– not to mention a fun and sticky activity for users.
9. How will the share economies be involved in TrustCloud? Can you give some examples?
TrustCloud sees portability across different sharing economies critical to it’s growth. For instance, AirBnB grew 500% to 10MM room-nights in 2011 with only an email an paypal data from it’s users.
This is “low-data friction” for a “low-stakes” transaction. We think other emerging sharing verticals such as car, ride, task-share sites like getaround.com, carpooling.com, and taskrabbit will benefit from haveing “portable trustworthiness” across different verticals.
10. Do you have anything to add to this interview we forgot to ask?
TrustCloud is a big fan of “Data to the People” It’s true that Trust data is not perfect– Trust means different things to different people (context), so it can’t be easily boxed. We do our best ot create a useful, intuitive, and fair system for online citizens to own the success they’ve earned online, and use it anywhere. http://www.wired.co.uk/news/ .