Meet Coreto, the answer to the crypto industry’s lack of trust

By Gaia Lamperti

Lack of knowledge and trust in the crypto industry is one of the main reasons behind investors’ scepticism that is holding them back from entering the crypto space. According to a survey conducted by Cardify, only one in six (15%) investors sufficiently understand the value and potential of cryptocurrency, and about a third of buyers have either zero knowledge about the space or would call their level of understanding “emerging”.

To tackle this gap, a new platform is aiming at creating a community of reliable crypto experts that can spread knowledge on digital assets and offer informed predictions on the market. Coreto is a reputation-based social platform where users with expertise in the crypto industry can monetise their knowledge by helping blockchain retail investors, traders, influencers, newcomers, and project teams looking to achieve funding goals.

“There was an obvious need to protect people from the hype and so-called experts who were shilling projects to then delete traces of their online activity once their predictions were proven wrong. Coreto will change the way people do their own research, which is currently very time consuming,” explained Vlad Faraon, CBO and Co-Founder of Coreto in an interview with IBS Intelligence.

The platform is a tokenised, secure environment for crypto communities, offering verified crowdsourced information thanks to its comprehensive trust and performance system. Coreto employs various technologies, including Machine Learning and Artificial Intelligence, to save users valuable time in the due diligence processes when making trading decisions. These algorithms help recognise various market trends and investor interests to generate relevant metrics that are useful to the community.

“With the help of aggregated news, tools and community knowledge, newcomers to the crypto space will better understand what projects are all about, who to follow and who deserves their trust, not solely based on the number of followers, but on a proven track record of their past calls,” Faraon added.

One of the platform’s main differentiators is the gamification system, which brings components of video games into a social network, such as recurring tasks, rankings, achievements, leader boards and much more. These features encourage accountability, pledges and challenges, validating the legitimacy of shared information and recording opinions through the platform’s native Community Reward Token which is designed to reward people who make significant contributions to the community. “On Coreto, everybody starts from zero. We don’t care if you come with 1 million followers from Twitter,” Faraon told IBS Intelligence.

“Through Coreto we are building a community that acts as a research hub for both the newcomers who want to improve their trading and investment game, but also the specialists who can monetise their knowledge and build a reliable reputation online. People are rewarded for their significant contributions and encouraged to generate additional income through subscriptions,” Iustina Faraon, CEO and Co-founder, pointed out.

Coreto is still in its early stages and registrations to test the platform are still open. In the long run, Coreto aims to strengthen its position in the market as the main information platform for the cryptocurrency field. “It’s important to understand early on how to choose your mentors and influencers, and this insight lies at the heart of our reputation-based social platform,” Faraon added.

“Useful, knowledgeable content has the power to aggregate communities, and this is especially valuable for the crypto world, where the value of a piece of information can influence the outcome of a transaction and build trust.”