QashBack (QBK Token): Blockchain, AI And Smart Contracts For Rewards
In today's digital era, customers often communicate their experience about a company or product to the world through an online medium.
Therefore, online reviews contribute to the reputation of every business or company, as consumers increasingly depend on them to make decisions about merchant selection. Active management of customer online reviews is currently an important part of Online Reputation Management (ORM).
Online Reviews And Reputation
According to 2017 Survey by BrightLocal, 91% of people read online reviews to learn about a business, and 97% look online for local business before making a decision. It has become part of the consumer culture to check online reviews before making any purchasing decision.
When consumers perform online searches, they tend to distrust businesses without online reviews. Businesses with online reviews from customers create a more trustworthy feel than those without. This shows a direct relationship between online reviews and the perceived trustworthiness of the business. This is where QashBack comes into play.
What Is QashBack?
QashBack is a digital platform that seeks to transform the traditional retail and services industries by introducing the world's first decentralized reputation management and permission-based marketing platform powered by Artificial Intelligence, Data Analytics, and blockchain Smart Contracts.
The project’s vision is to be the world’s most consumer-centric lifestyle platform, where consumers’ privacy is in their own hands and they can discover and conduct transactions with full transparency. Their mission statement is to connect consumers, merchants, and advertisers through an incentivized online reputation platform for transparent interactions and ease of mind on data privacy issues.
Problems QashBack Seeks To Address
- Polarization bias: most online reviews tend to over-represent extreme views, which lead to highly polarized views that could be positive or negative.
- Censorship: there is a potential conflict of interest associated with the business model of review sites where there are incentives to sell advertising.
- Fake reviews: extensive fake reviews threaten the usefulness and credibility of online reviews to be used as the standard of online reputation.
- Privacy control: Reviews that users submit often reveal information about them. However, users themselves have little or no control over the information.
The QashBack Solution
QashBack serves as a consortium platform for different applications to share in the user pool, data pool, and content pool in a trustless and independent environment.
It achieves this through the master token to clear and settle cross- industry application transactions. Besides, QashBack provides reward-based reviews, behavior-based promotions, as well as permission-based advertising.
For consumers, there will be a cheaper consumption through rebates and discounts available on the Qashback platform. They will have full control over personal information, privacy, and contextual advertising.
At the same time, merchants will enjoy faster accumulation of online reviews to boost their online reputation for better commercial impact. They will also have access to customer data on the platform as well as faster development cycle.
Some of the competitive advantages of the platform include:
- Protocol platform: it is easier, faster, and cheaper to set up new lifestyle applications or incorporate into an existing one.
- Network Effect: users can leverage platform membership base of various merchants worldwide to cross-sell or earn referral fees.
- Token liquidity: there is an immediate rebate to wallet payments, redemption, or conversion from crypto to fiat.