The e-commerce and the sharing economy growth has generated a world in which several companies and sellers working with and around them strongly rely on online reviews.
Before acquiring online electronic products, books, planning a trip, and health solutions for consumers, as well as procuring equipment, purchasing financial and insurance services for business, people read reviews to reduce the risks of fraud and buy safely, given a certain company/seller reputation. Without exaggerating, we can say that online reviews are the lifeblood of such sites as AirBnB, Amazon, Yelp, Angie’s List, Google, Glassdoor, Tripadvisor, eBay, acutally. And not only them. A new wave of insurance, health, financial, and professional services are now offered online, as well.
Unfortunaly, the consumer confidence can be killed by fake reviews, which triggers loss of credibility of e-commerce players and of the entire Internet. According to recent statistics, today, up to 30% of online reviews may be not authentic. Given the above, we need to be serious about addressing and tackling this ongoing issue. According to recent statistics, the size of the fake review market is constantly growing.
To this end, Revain, a Moscow, Russia-based startup, is advancing a review platform which implements blockchain technology to make sure that the feedback the users leave is authentic. The authenticity is achieved thorugh an operation method where reviews fragments are processed both by machines and manually being saved into the blockchain detecting all types of unwarranted texts such as spam, flood, abuse, etc.. This generates a guarantee those comments won’t be edited later to provide organic reviews and minimize the risks of fake ones.
Developed in collaboration with hi-tech IBM AI systems, the Artificial Intellegence feedback platform doesn’t allow to change or delete reviews and its authors get a reward for creating it via a token, which is called RVN, used to motivate users to leave only legitimate reviews.
Led by Rinat Arslanov, CEO, who is supported by a team of 10, Revain aims to launch the following services:
– Reviews on ICO to make sure that an ICO a user is going to invest is reliable.
– Reviews on Cryptocurrency Exchanges to trade, buy and sell on platforms trusted by thousands of other people.
– Reviews on E-Commerce to improve the purchase process.
– Reviews on restaurants, markets and shops.
The company, which launched a pre-crowdsale on August, 8, accumulating 854 070 USD, is now to launch its crowdfunding campaign on August, 21 through such cryptocurrencies as Bitcoin, Bitcoin Cash, Etherium, Etherium classic, Litecoin, Dash, Monero, Zcash, NEM or others. The campaign will be run in 2 weeks.
FinSMEs
14/08/2017
More about Revain:
Website: https://revain.org
Facebook: https://www.facebook.com/revain.org
Twitter: @revain_org