Trustchain, developed by Covery, is a blockchain-inspired global reputation network designed to enhance fraud prevention and risk management for online businesses. By aggregating and analyzing user reputation data across multiple identifiers, Trustchain enables companies to detect and prevent fraudulent activities more effectively, thereby safeguarding their operations and customer trust.
Key Features and Functionality:
- Global Reputation Database: Trustchain maintains a comprehensive database with over 400 million reputation records, covering identifiers such as email, card ID, phone number, IP address, email domain, system account ID, device fingerprint, device ID, entity ID, person ID, IBAN, and SWIFT.
- Real-Time Updates: The network continuously updates reputation records in real-time, ensuring that businesses have access to the most current information for accurate risk assessment.
- Customizable Risk Logic: Trustchain integrates seamlessly with Covery's rule-based and machine learning engines, allowing businesses to create tailored risk logic models that align with their specific needs and industry requirements.
- Multi-Level Reputation Analysis: The system organizes reputation data into three distinct chains—individual, industry, and global—enabling businesses to assess user behavior at various levels and make informed decisions based on comprehensive insights.
Primary Value and Problem Solved:
Trustchain addresses the critical challenge of online fraud by providing businesses with a robust tool to assess and manage user reputations effectively. By leveraging a vast, real-time updated database of user identifiers, companies can:
- Reduce Fraudulent Activities: Identify and block events associated with compromised identifiers, thereby decreasing the incidence of fraud.
- Enhance Decision-Making: Utilize detailed reputation insights to make informed decisions regarding user interactions, transactions, and account activities.
- Protect Brand Reputation: Safeguard their brand's integrity by preventing fraudulent activities that could lead to financial losses and damage customer trust.
In summary, Trustchain empowers online businesses to proactively combat fraud by providing a dynamic, data-driven approach to user reputation management, ultimately fostering a safer and more trustworthy digital environment.
