Revain takes advantage of blockchain technology to revolutionize the way that we leave reviews. It markets itself as the “first trustworthy review platform, built with blockchain technology.” This is the only business review platform that is based on the blockchain.
The team behind Revain recognizes that in today’s world, one of the biggest factors determining which product people buy is reviews. Unfortunately, the companies that host and manage reviews have been known to edit and delete reviews. To make matters worse, research shows that between 20 and 60 percent of all reviews found online are fake.
Additionally, consider that each positive review attracts about four customers and a negative one deters about 11. With so many sales at stake, it makes sense that businesses would want fake positive reviews. Revain changes all this with a review platform where you cannot change the reviews.
How Does Revain Address the Issue?
Revain’s big difference is that it is based on the blockchain, so once a review is posted, it cannot be altered or deleted. This way, companies cannot adjust existing reviews to make them look better or pay someone else (like those in charge of the website the reviews are on) to do so.
Revain covers multiple segments, including reviews on ICOs, cryptocurrency exchanges, e-commerce, and fast-moving consumer goods (FMCG).
How Does Revain Prevent Companies from Posting Fake Reviews?
Even if a review cannot be changed or deleted, there is still the potential for posting fake reviews. To combat this, every user has a limit of posting five reviews every day. There is also a Know Your Customer system that prevents mass registrations so a company cannot simply hire someone to make 20 different accounts and post 100 reviews of its products. Know Your Customer also protects you from overspending. With smart contracts and DAO, users do not need to trust the platform to do anything except exist.
Additionally, every Revain review must undergo a two-step verification process to help prevent fake submissions. The first verification step is artificial intelligence, while the second verification is manual. The artificial intelligence is part of a close collaboration with the high-tech IBM AI systems. The machine learning will detect all types of unwarranted text, including abuse, flooding, and spam. Revain will help provide the world with an authentic base of human opinions for computers, which the team feels will be necessary as more machine-to-machine relationships develop.
What Are Some Key Components of Revain?
Revain has two tokens. RVN provides the motivation for users to continue to be active. The second token, R, works with a nonlinear conversion mechanism to create an internal token that is absolutely stable. Additionally, Revain’s use of the Ethereum platform allows the system to be transparent to guarantee incorruptibility and immutability.
How Do Users Benefit from Revain?
The most obvious benefit of Revain is that those who visit the platform will get reliable reviews about the products or services they are interested in. In this way, they can make an educated decision without having to worry about fake reviews. Additionally, every time a user posts a review, they are rewarded. They receive RVN tokens if their review passes the filtration stage, which any authentic one should do with ease.
Will Revain Help the Market?
The team at Revain also feels that the platform will help the market via reliable reviews. Those with poor reviews and bad ratings will have fewer clients unless they improve their products. At the same time, those companies who produce good products will receive positive reviews and gain customers. The result should be fewer bad products as demand for those particular brands decreases.
How Will Companies Benefit from Revain?
Businesses will also benefit from Revain by getting real feedback from their customers. They can hear what their clients really think about their products without wondering which reviews are lies in their favor because the reviewer was paid. Instead, they can actually learn what customers think. When a company produces a quality product, Revain can improve its sales as more customers post favorable reviews.
Can Reviews Be Disputed?
It is possible for reviews to be disputed, just like a company could respond to a review on a website and address customer concerns. The difference is that the entire conversation is displayed publicly and forever, so there is no way for the company to hide poor customer service. Similarly, everyone will know if someone lies about the quality of their product in hopes that the seller will send them a replacement for free and let them keep the old one. Neither the reviewer or the company in question can hide anything with the blockchain storing the conversation.
How Does Revain Work with the Rest of the Blockchain?
In addition to providing reviews for services and products, Revain can include reviews for ICOs and more. Given the large scope of the industry and its current growth, this can be very important. Revain points out that just within the first half of 2017, ICOs raised over $1.3 billion in revenue, with no way of knowing which companies will deliver quality technologies and innovations. In the future, Revain can be a way for users to share insights like this.
How to Buy Revain R Token
Now the token sale is over you are able to purchase the tokens on different exchanges.
You are not able to purchase R with “Fiat” currency so you will need to first purchase another currency – the easiest to buy are Bitcoin or Ethereum which you can do at Coinbase using a bank transfer or debit / credit card purchase and then swap that for R at an exchange such as Kucoin.
Register at Coinbase
For first time buyers of crypto currency, we recommend that you use Coinbase to make your first purchase – its easy to use, fully regulated by the US government so you know it is one of the safest and most reputable places to purchase cryptocurrency from. Coinbase offers the ability to purchase Bitcoin, Litecoin and Ethereum with a credit or debit card or by sending a bank transfer. The fees are higher for cards but you will receive your currency instantly.
You will have to carry out some identity verification when signing up as they have to adhere to strict financial guidelines.
Make sure you use our link to signup you will be credited with $10 in free bitcoin when you make your first purchase of $100.
To get started, click the “Sign up” button where you will be taken to a registration form where you will need to enter your name, email and choose a password.
Purchase Ethereum
For this guide, we will be purchasing Ethereum to swap for our target cryptocurrency. The reason for this is that it has far cheaper fees than bitcoin for sending and the transaction also happens a lot faster. So in Coinbase, visit the “Buy / Sell” tab at the top, select “Ethereum”, choose your payment method and enter the amount you wish to purchase – you can either enter a US Dollar amount or a number of Ether.
You will then be asked to confirm your transaction, if paying with a card you might have to complete a verification with your card provider. Once that’s complete, your Ethererum will be added to your account.
Purchase R at Kucoin
You can now send your Ether over to Kucoin to make your purchase of Revain. To find out more about Kucoin, including how to signup and trade, read our complete review here.
Revain is also available on the following Exchanges:
- OKex
- HitBTC
- Cryptopia
- Mercatox
- EtherDelta
What Does the Revain Roadmap Look Like?
In Q1 of 2018, Revain will be adding more projects to the dashboard and translating the platform into additional languages. In Q2, the team will start saving reviews to the blockchain, create the mobile application, and build the AI review analysis system. Q3 will see the launch of their RVN token and the addition of their review incentive system. Finally, Q4 will include the release of Revain Gaming reviews and cooperation with gaming industry giants.
Conclusion
Fake reviews are a very real issue that can affect consumers as well as companies. Revain’s unique approach to the review process by using the blockchain should allow for honest reviews that users can count on. Once it is available as a mobile application, Revain has the potential to become very popular, particularly due to the incentives for reviewers.
