How is Blockchain Penetrating Into People’s Daily Life

User Reviews About Crypto Exchanges and Wallets Are Now Secured In the Blockchain

 
SHARE:

With the FinTech solutions being on the rise a huge portion of financial activity passed to the internet. Almost all operations with cryptocurrencies occur online, and many users are cautious about such delicate use-cases, usually searching for others’ feedback.

However, sometimes feedback is scattered across different websites, not to mention fake reviews. A new service for user reviews called Revain, founded in 2017 by Rinat Arslanov who is currently a CEO, is addressing those issues.

Blockchain and AI for better reviews

It gathers all reviews about crypto projects, exchanges, wallets and cards from the community on one website. But what makes Revain unique is the use of the distributed ledger in addition to an easy-to-use interface. Artificial intelligence is another pivotal component of the platform.

The blockchain implementation means that all user actions such as reviews and likes/dislikes are written in the blockchain, providing full transparency. It essentially makes review manipulation by any party (including the service itself) nearly impossible.

Meanwhile, Revain AI checks all reviews, filters out low-quality reviews and makes high-quality ones eligible for rewards, along with ensuring that every single review is not copied from other sources.

Feedback-based ranking system

In the Revain ecosystem, it is profitable to provide a qualified service as the platform algorithm ranks all projects and exchanges based on their popularity and people’s impressions, which helps quickly understand the general quality of the project.

A large amount of high-quality feedback will move a project or an exchange higher in an overall ranking. That is one of the reasons why companies will be interested to reward the authors.

A way of interaction for companies and customers

The companies will always be interested in improving service and products by means of communicating with their customers, while people want to share their consumer experiences. The Revain platform provides space for both.

Revain offers the option of Premium Subscription for corporate customers, which allows companies to reply to specific reviews, becoming a handy tool for managing negative and encouraging positive feedback.

For instance, one can smooth out a poor review by publicly replying to an author who wrote about his negative experience. Or a company can thank the author for a positive review and reward him.

Revain is becoming a powerful tool for users who get the opportunity to spread their reviews among the crypto community, draw attention to the project’s problem or point out to the scammers. Besides, the platform is motivating authors to write more high-quality reviews of 100 or more symbols.

For companies, Revain is a tool for marketing their service or exchange and communicating with their users and token-holders. Companies can promote themselves among the crypto community by moving higher in the overall ranking.

Token for awards

There are two tokens tied to the Revain project. The first coin dubbed simply “R” is in TOP-100 of assets on Coinmarketcap, having an almost $50 million cap. This token is traded on a number of exchanges.

Another token, RVN, is an internal token, used for the incentive system of rewarding users for high-quality reviews.

The project is made for the blockchain community, including enthusiasts, researchers and analysts, investors and regular hodlers.

Main achievements and long-term plans

As of May 2019 , Revain platform is a full-fledged working platform with over 12 000 reviews, more than 2000 crypto projects, 270 exchanges, 150 wallets, and 47 cards.

Revain’s ultimate goal is to become a number one source of user’s information about projects and exchanges for the crypto community. Users’ hands-on experience becomes pivotal when it comes to making investment decisions.

The team says that the reviews on crypto companies are just a start:

“We are actively researching markets such as FMCG, gaming, e-commerce, bookings, etc. Gaming is the next business sector we are to cover”.

In May and June 2019, the Revain is going to release a new design.

Also read: Exchanges Are Faking Nearly All Bitcoin Trade Volumes