Since the introduction of e-commerce markets, rating systems have been the primary means of establishing a trust between buyers and sellers. The foundation of the rating system relies on one principal goal: to build confident decision making within digital marketplaces.
Many services like AirBnB, GovProp, Uber, and UpWork enable both parties to efficiently conduct business from across the globe, providing the environment for great deal-making on both sides.
This is only made possible if buyers and sellers alike can rely on user-based rating systems and trust that they are honest and legitimate.
Digital matching through specialized private networks reduce the amount of time spent searching around in an effort to find the right product or service provider.
In the case of service industries like government contracting, peer reviews that include previous contract wins enable companies to gain a competitive advantage securing the right talent ahead of their competitors. As a response to the continued growth of the Gig-Economy in our Gross Domestic Product (GDP), Congress has passed The Consumer Review Freedom Act. The CRFA reaffirms the rights of both buyers and sellers to post honest and truthful reviews about their experiences with a product or service regardless whether they are positive or negative.
The Consumer Review Freedom Act (CRFA) Attorney Bradley Shear told NBC News “You have the right to post truthful negative experiences online and Congress is saying that right cannot be taken away from you, even if a company has required you to sign something that takes away that right.”
Because false or misleading posts are already covered under existing libel laws (namely you will not be protected if you lie), Congress has shifted its focus to protecting your right to talk openly about your bad experiences without fear of reprisals.
With the passing of CFRA, buyers and sellers alike in the Gig-Economy can feel confident of their ability to post honest reviews about their experiences while strengthening the digital marketplace economy.
CNBC reports that the number of Gig-economy workers increased 44 percent more than traditional payroll employees. With the passing of CRFA, peer reviews – the key quality control mechanism of Gig-services is now on solid legal footing and continuing to build an honest and strong digital economy.