Surveychain is the world’s pioneering market research blockchain platform.
Market research is the process through which businesses analyze different factors to gain information about target markets and clients. It is an essential part of the business planning process, and is often useful when solving current and future problems. Market research data can either be primary (first-hand) or secondary (obtained from existing sources).
In the last 10 years, the market reach sector has been on a steady rise, amassing average annual revenue of $47 million. The demand for market research services has intensified in the developing world, though America still leads the pack.
Due to technological advancements, automation and standardization have become a common occurrence among businesses. His has resulted in a massive decline in the budget set aside for market research.
Problems Facing Market Research
Currently, most companies are restraining themselves from developing products that are likely to be unsuccessful according to market research. This means that the money used in market surveys often produces undesirable outcomes.
Additionally, most of the existent survey methods are obsolete, resulting in inaccurate data. This renders the entire process useless.
While the number of market researchers is constantly increasing, the same cannot be said about the quality of the surveys. In this regard, most companies cannot present samples of the survey data.
In some cases, the targeted clients are either unresponsive or provide incorrect information. This is usually prompted by the inclusion of sensitive questions in research questionnaires.
However, the most significant challenge is the lack of a reliable storage mechanism for the gathered data. This factor is particularly worrying, given that as industries advance, the data will become more voluminous and demand better storage infrastructure.
The Surveychain Solution
Surveychain will leverage blockchain technology to bring a lasting solution to the aforementioned problems.
Accessibility, Authenticity and Organization of Data: Blockchain technology will enable users to create or import existing data and reports onto a single distributed ledger, speeding up accessibility and ensuring data is qualitative. The authenticity of data will be verified by the Oracle multi-signature contract.
Specialized Market Research
The decentralized nature of blockchain technology enables Surveychain to analyze each user’s personal information, coming up with highly individualized and relevant data. As a result, products developed as per the gathered info are very likely to be successful.
Since blockchains are unalterable, falsification and skewing of data will be a thing of the past.
The Surveychain Token
The Surveychain utility token will be the native currency of the Surveychain ecosystem. In addition to being used to buy market research data, its owners can exchange it for other digital currencies.
Token Generation and ICO
The token generation process will be governed by a smart contract. The total supply of tokens is capped at 100,000,000 SVC.
The 100,000,000 SVC will be distributed according to the following criteria:
- 45% – ICO
- 25% – presale
- 15% – Surveychain reward system
- 10% – future research
- 5% – team and development
Parameters Of The ICO
- Presale start date – 20th April 2018
- Presale Price- 1ETH=5,000SVC
- Presale duration – 21 days
- Main Event start date -11th May, 2018
- ICO price – 1ETH = 3,000 SVC
- ICO duration – 28 days