Disclosed is a system for managing trust. The system comprises at least one wearable device, at least one terminal device and a server arrangement. The server arrangement is configured to determine occurrence of a first type of event between a wearable device and another wearable device or a second type of event between the wearable device and a terminal device; receive a device ID and a class of each of the at least one wearable device and the at least one terminal device; receive a rating and process the rating to generate updated activity information for each of the wearable device, and the other wearable device or the terminal device; update a profile corresponding to each of the at least one wearable device or the at least one terminal device with the updated activity information and allocate an incentive for the profile based on the updated activity information.