Embodiments of the invention provide means to the users of the system to provide ratings and corresponding feedback for enhancing the genuineness in the ratings. The system includes a memory coupled to a processor. The memory includes one or more instructions executable by the processor to enable the users of the system to rate each other based on at least one of sharing, exchanging, and selling one of activity, service or product. The system may provide a mechanism to encourage genuineness in ratings provided by the users. Furthermore, the instructions facilitate the rating receivers to provide feedbacks corresponding to the received ratings. The feedback includes accepting or objecting to a particular rating. Moreover, the memory includes instructions executable by the processor to enable the system to determine genuineness of an objection raised by a rating receiver.