Blockchain technology is changing the way we think about almost every industry, and new projects are continually founded to address the gaps in markets where the blockchain can help. Revain is a new project looking to bring more honesty and transparency to the PR and reviews industry via the blockchain. Let’s take a closer look at this project.
The review industry is huge, but consumers do not often think about what goes on behind the scenes. We read good, bad, and neutral reviews and subsequently make a judgment as to whether or not we will purchase a good or service. For every four consumers attracted by good reviews, bad reviews can deter up to 11 consumers. Because of the power that both good and bad reviews hold, many companies hire other companies to manage their online review presence. These companies can alter and delete negative reviews while bolstering good ones. This means that all consumers should be incredibly skeptical of reviews unless there is a public and unbiased way of validating reviews. That is where Revain steps in.
Using the blockchain, Revain plans on building an economic model and ecosystem where consumers receive trustless reviews and have confidence that those reviews are not altered, doctored, or fake. It empowers consumers by giving them back full control of their choices, free from dishonest influence. Revain also plans on encouraging and fostering an active community. Since more reviews mean a more robust and healthy ecosystem, Revain plans on rewarding customers who post reviews using its native token (RVN).
To keep consumers from just writing too many reviews or attempting to defame or prop up a particular company or service, Revain set a limit on how many reviews can be written within a certain time period and also requires two reviews per item. One of the reviews is done by AI, and the other is written manually. Each review must pass both to be awarded tokens. Any reviews on the platform can be addressed by the companies, but the entirety of the exchange is forever transparent and is stored within the blockchain as well. In this way, both consumers and businesses can be confident that reviews have not been altered behind the scenes.
Revain also plans on providing a reviewing service for ICOs, since there are so many to keep track of and a lot of PR manipulation surrounding them. This will provide some much-needed transparency and clarity to potential ICO investors.
Revain will begin its crowdsale tomorrow (August 21st) to help fund research and development along with the implementation of its user-friendly review platform and ecosystem. The crowdsale will have a soft cap of 2,000 BTC and a hard cap of 8,000 BTC, but it will also accept many altcoins as payment including Dogecoin, Ethereum, and Bitcoin Cash. The project itself is based on the Ethereum blockchain for ease of supporting its native token.
Revain’s Site: https://revain.org
Revain’s Whitepaper: http://revain.org/pdf/wp/en-wp.pdf
Revain’s Promotional Video: https://www.youtube.com/watch?v=ZlJr5SnL5Kc
This is a sponsored article and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment or trading advice; always do your own independent research.
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