Recent studies show that purchasing decisions are becoming more reliant on online reviews and often the content is the main reason why most consumers end up picking up a product. While it is becoming evident that reviews are both an influential tool for businesses, the industry still has a long way to go before actually becoming sufficient.
This is where blockchain technology comes in to attempt and fix the level of security and efficiency. Review. Network is an example of how blockchain technology could shake up the review industry with its new platform.
What Is Review Network?
Review.Network is a blockchain-based project that aims to establish a uniquely advanced user-based feedback platform for companies. The Review.Network platform will provide direct review communication between customers and companies for a more efficient top-tier market research feedback. Overall, the review model will have no mediator with the structure allowing for direct rewarding for the review participants.
How Review Network Trusted User Feedback Rewards Works
As on display the Review.Network will consist of two interconnected parts made up of the market research and user reviews portal. Both the market research and user reviews work to complement each other with their respective advantages. Users get to earn tokens from completing polls, writing and validating reviews. This means for the user the more the activity on the platform the more token rewards they get to earn.
Review Network REW Token
The primary token for Review.Network is known as REW Token. As a utility token, REW will allow companies to access the market research tools on the platform. Additionally, the REW token will enable users to get rewards from answering the surveys or generating quality reviews.
The REW Token also forms into different groups to create the Reward Pools for the various business activities. A fill and refill mechanism will work under the Reward Pools to ensure a continuous supply of rewards for the platform's operations. These reward pools will include:
- Market Research Reward Pool
- Trusted Review Reward Pool
- Public Research Pool
- Service and Platform Pool
Review Network REW ICO Details
- Start- 1 July, 2018
- End- 31 July, 2018
- Start- 1 August, 2018
- End- 31 August, 2018
Parameters Of The ICO
- Token ticker- REW
- Token platform- Ethereum
- Model- ERC20
- Accepts- ETH, BTC, Fiat (USD, EUR)
- Price- 1 REW= 1 CENT/ €0.01
- Token supply- 5,000,000,000 REW
- Estimated ICO value- €22,900,000.00
- Community- 54%
- Reward pools- 24%
- Team and advisors- 15%
- Reserves and exchanges- 5%
- Bounty campaigns- 2%
Review Network Reward System Benefits
The REW token is designed in such a way that it will create a token reward system to:
- Incentivize users on the need for honest reviewing through rewarding
- Incentivizing users to engage with one another to create high-quality content
- Incentive the users to store and use the tokens on the Review.Network instead if selling.
Review Network Conclusion
Quality and honest reviews are invaluable to companies and the creation of Review.Network makes up a source of quality advice for user reviews that is rare. Still, the use of financial incentive is not new with blockchain projects but Review.Network could still provide the innovative solution to the age-old issue of quality reviews.