What are trustworthiness profiles?
In order for automated trust agents to assess the trustworthiness of potential contract partners, trust must be made understandable for them. In Legal Testbed, this is achieved by developing standardized trustworthiness profiles (TWP) that contain information regarding the trustworthiness of a potential contract partner. In this context, these trustworthiness profiles can be understood as a predefined set of information about a legal entity, which includes the following details:
Identity details
Company-related information
e.g. authorized agency, share capital, number of shareholders
Transaction-related information
e.g. failed contracts, involvement in legal proceedings
Certifications
in relation to compliance with legal requirements
Static trust assessment
By bundling relevant data in trustworthiness profiles, trust-related information can be recorded and exchanged in a uniform manner.
In this process, an evaluation model serves as a systematic transformation of this information into an adequate and understandable measure for trust from which individual decisions can be derived.
Since this model is based on snapshots of the trustworthiness profiles, it represents a static trust assessment.
Dynamic trust assessment
Since trustworthiness can be subject to constant fluctuations, a multi-layered acquisition of information and a dynamic evaluation over a longer period of time are required.
In this context, key factors of dynamic trust formation are identified within the framework of the use cases and evaluated from a business, legal and IT security perspective.
To ensure that trust-building is not based on a single moment but a continuous process, information is repeatedly queried as well as information of ongoing business relationships included.
This empirical approach results in a dynamic evaluation model, by means of which the static trust-building is further developed.
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