Wikirating:Background

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Why Wikirating?

The recent financial crisis and the resulting economic collapse have shown a serious lack of transparency, efficiency and neutrality regarding assessments on financial risks. Banks, companies and even countries have based their risk and credit estimations on financial data provided by few major and well established rating agencies, and it is now obvious that these ratings were not reliable and that rating methods needs to be drastically improved and controlled. The exaggerated power and influence of the credit rating industry has strongly motivated the idea of Wikirating. The analyses on credit worthiness of countries and governments issued by the rating industry have been too long over rated, and while governments are trying to regulate the rating and assessments activities, Wikirating offers a platform where anyone can contribute for better, open and more transparent credit risk assessment.

Vision

In the very first place Wikirating aims at federating a community of people who want to participate in providing better, more transparent and open financial rating data and methods. Our mission is to give everyone a chance to contribute to this project, and our vision is that a community of worldwide individuals and experts might have much more influence than public attempts to regulate the rating industry. The short term goal is to reach a broad community of active experts and interested users to the Wikirating project, the middle and long term goal is to establish Wikirating as an additional and reliable source for credit ratings.

The Wiki concept

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Framework

The Wikirating platform is technically based on the MediaWiki framework, the same used by Wikipedia, the free encyclopedia. As with Wikipedia, everything posted, published, added or modified by members is reviewed by the entire community.

Volunteering

Next to building a strong community of active users to contribute to credit ratings data, sources and methodologies, we are looking for volunteers with technical skills to help us develop new features and functions on the Wikirating platform. If you are interested in volunteering, do not hesitate to contact us.

See also: Overview of all open Wikirating projects


Reward program

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In contrast to many other wiki's, we want to reward our active community members. Indeed, the success of Wikirating depends on the community's contributions and as soon as Wikirating will reach some kind of critical mass (in term of registered users, posts and contributions) we intend to develop a license model for commercial use of Wikirating. In that sense, we believe it is more than fair to distribute part of the generated revenue to the most active users. As of yet we have not completely defined the exact rules since we are not actively focused on generating revenue at this stage. However we believe in the success of Wikirating and we want to be fair with the members who also believe in Wikirating and who will actively contribute to Wikirating. Therefore, each of your contributions will be counted from the beginning, based on a point system.

Logically, we will be able to reward you depending on the revenue Wikirating will generate. We aim at being fully transparent and providing the maximum clarity in our financial statements.

We also intend to donate part of our revenue to charity organizations. As we believe that education a driver of utmost importance, we have built a partnership with Room to Read, a charity organization which actively promotes the education of children and especially of girls in several developing countries (see www.roomtoread.org).

Who is behind Wikirating?

Wikirating is an independent project and is not connected in any way to Wikipedia or to Wikimedia Foundation. Wikirating has been initiated in spring 2010 by Dorian Credé, he owns a MSc. from the ETH Zurich (Switzerland) and works since more than 14 years in the IT and financial services industry. Erwan Salembier, co-initiator of Wikirating, left Wikirating in February 2012 by mutual consent. In January 2013 the Swiss non-profit Wikirating Association was founded, in order to ensure the further development of the platform. The appropriate Wikirating domain names and the brand Wikirating® are owned by Dorian Credé, they are ceded for free to the association.

How can I get started?