Revain: The Unbiased Blockchain Review Platform
Reviewer’s bias is a real phenomenon that has a significant impact on consumer confidence and business performance. While third-party platforms like Yelp and Foursquare have done well to add an element of objectivity to a consumer’s decision-making process, these reviews are ultimately influenced by other user’s reviews.
While companies like Amazon and Uber are actively working to create more efficient internal systems that improve rating and review accuracy, there is still a clear need for more innovative solutions. One project that is hoping to provide that solution is Revain, a new platform that ensures review and feedback legitimacy through natural language processing, blockchain review data storage and incentive systems built around the Revain token. Ultimately, Revain aims to build a more objective review ecosystem that provides deeper insights for both consumers and businesses.
Interested in Revain? Here’s a quick rundown of the project:
Platform & Development
The Revain platform features a number of review filtering and quality assurance methods that ultimately produce an objective, trustworthy output. Here are the main elements:
Review Automatic Filtering (RAF): After submission, each review first has to go through automatic moderation via machine learning and neural networks, similar to how Twitter screens posts. To accomplish this, Revain has built on top of the IBM Watson ecosystem, which is chalk full of useful APIs.
Manual Filtering: Once a review passes RAF, it is then reviewed by the company manually. The moderators are allowed to make a decision either to approve or reject the review, but regardless of their decision, it will be visible to all users, forever.
Review Snapshot Storage (RSS): Following manual filtering, the review is partially saved on the Ethereum blockchain to assure that no review has been edited post submission. The data is stored via smart contracts.
Incentives/Penalties: In order to assure proper usage of the platform, Revain has developed a system of incentives and penalties. Users who give exponentially good reviews have a change of earning coin rewards, while any improper activity by either users or businesses could result in coin penalties. Time will tell whether or not a penalty system will work out.
Revain makes money by charging businesses a fee per user review, which will also work against illicit paid reviews. If you would like to try the Revain platform in its current build, you can check out their coin review dashboard.
The Revain team, which is based out of Russia, looks to be fully capable of bringing the Revain platform to market, especially with the support of the IBM Watson Ecosystem.
The Revain project is fairly unique in that it is using two tokens across its ecosystem, as they wanted to issue a stable token to function within their actual product. The R token is what was sold to gather funds during their ICO and will be the primary exchange token. The RVN token is the platform token and will be used for review incentives and penalties. To control for volatility, the RVN token will always be worth 0.0001 BTC.
Revain (R) currently has a market cap of ~$200 million with a circulating supply of 184,450,000 R and a total supply of 484,450,000 R.
Revain is tackling a major consumer issue, and if executed correctly, could become the clear review platform market leader. Time will tell whether or not companies, especially platform apps, will want to integrate Revain into their systems.
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Disclaimer: The author(s) of this article may have a position in one or more of the securities mentioned above. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.