Discussing Trust in the Sharing Economy with Deemly's Pernille Lyndegaard

Executive Series

by Nick Winikoff

Posted on 2017-02-27

Trust is the future of the Sharing Economy

There are many things that make the sharing economy truly spectacular. The sharing economy gives its users the freedom to monetize their standing assets, it brings people closer together through face to face interactions which have been on the decline since the rise of the social media era, and strengthens community ties. For all these things to happen the sharing economy needs to encourage trust between strangers. Without trust, the whole movement will collapse. Deemly a trust-aggregator is trying to solve the trust issues in the sharing economy through the use of its trust score algorithm that pulls a user’s public rating from all the various sharing economy platforms, they then use their software and turn many scores into one Deemly score.

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We sat down with Pernille Lyndegaard, Deemly’s chief marketing officer to discuss Deemly’s role and impact on the sharing economy. Pernille has been working in startups for the last two and a half years. She first heard about Deemly when CEO Sara Brodersen called her up and asked what she thought about the idea. Sara has always been interested in sharing spaces, she even wrote her thesis on the sharing economy. Sara eventually came to the realization that trust was a real issue that could affect the success of sharing economy platforms. Sara thought that there was a real market for her idea and felt that Deemly could definitely capitalize on the emerging market. Pernille agreed and signed on as a member of the Deemly team.

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Deemly’s goal is to facilitate the ever-growing number of peer-to-peer transactions that are occurring online, with the ultimate goal of creating a universal trust of the sharing economy. Pernille explains the before Deemly and in truth the whole sharing economy, we never had any information about an individual behind a product or service. Users only knew the reputation of the company and how that company treated its customers. With Deemly we can now create a relationship with a customer which ends up improving the experience for all parties involved. Deemly also feels that they will be able to grow as the sharing economy expands and hopes to be on every continent in the next three years.

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Pernille, explained to us that Deemly works as a two-sided platform. Individuals can create profiles and aggregate their ratings and reviews into one place, Deemly would then assign them a number from 1-100 the more trustworthy the person the higher the score. Businesses, on the other hand, can buy Deemly’s API to put on their own website. Which would then allow them to post individuals’ Deemly score on their platform

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While there are similar services on the web, Deemly differentiates itself in several ways according to Pernille. Deemly doesn’t have any direct competitors, Pernille explained that many other companies are trying to verify its users through background checks and other methods. Pernille explained that she and the rest of the Deemly team see great value in the direct evaluation of an individual by their peers. Pernille feels that as the sharing economy moves into the mainstream that it will be even more important to have an aggregated score. “There is a lot of opportunities that we haven’t even realized,” said Pernille. And while Deemly is still small and has yet to make a really big impact the team is encouraged by the reception it is receiving mostly in the business to business world.

For more check out Deemly.co




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