Revain released a new dashboard for honest and immutable users feedback.
What is the importance of online reviews? In the digital economy today, search engine results can make or break any business. Are you aware that 10% of how a search engine like Google decides to rank search engine results? They depend it on online reviews. According to Together Digital, as much as 90% of the customers only take action if they read positive reviews. That is the reason why reports are significant as well as reliable and accurate ones. Internet giants like Amazon are not immune to the problems of fake reviews. There was a recent report regarding a review debacle that hit their website. Amazon permitted the so-called “incentivized reviews” until last October. Here, reviewers get discounted or free products in return for reviews as long as the reviewer made the arrangement clear. However, after incentivized reviews flooded the site, most of them are fraudulent. Because of that, Amazon banned them for most of their products.
The project Revain has been busy in creating a platform that tackles issues that surround ICO reviews. The latest version released is v0.3. It brings light to the new interface enhance by data widgets for the day’s volume and price and adds more functionality. More development is on its way as the backend gets bolstered by the development team. It has a more revealing interface and a more detailed token dynamics graph. The review section also receives a facelift so it is now more user-friendly and more precise.
The ICO space’s needs for reliability
Initial Coin Offerings gained ground after raising almost $1.2 billion in August 2017. It is essential for investors as well as issuers of ICOs to have quality investments because they want to showcase their project based on the merits. Because of this, reviews take center stage for analysts and developers. It can be essential for the development of a reliable ICO market in the future. The feedback platform Revain makes sure that the reviews are immutable, honest and they reflect the users’ positive feedback. The platform is acting as an aggregator on the token dynamics, and they also provide information on the relevant projects’ significant milestones. In the long term, Revain can help create market value and build the company for this nascent investment system that sprung up around the ICOs. In short, reliability is the key. It will allow Revain to provide the investors the crucial insights that they need to be able to decide and projects a chance to prove that they are worthy of investment. Analysts will have the opportunity to disseminate information and showcase their skills and the opportunity for the ecosystem as a whole to prosper.
The Force of Immutability
Revain uses the Blockchain technology for their ICO reviews. The technology they chose, in particular, is the Ethereum Blockchain. It allows them to give a transparent review platform that has the strengths of incorruptibility and immutability. It means that the reviews can never get manipulated, faked or forged easily. It does not say that the reports can never get updated. In reality, the Revain review process is user-friendly and dynamic. A spokesperson of Revain explained that a review could become updated. After someone writes and finishes a review, it will go to the Blockchain where it is un storage as a sequence of digits. Whenever the user would want to change the existing reports, they may be able to do this. They display all of the changes so that other user will see them. People will see the initial review on the platform with the amendments.
Artificial Intelligence that can fight the bots
An essential factor in ensuring the integrity of reviews is immutability. However, it is not the only factor that can make the reports reliable. The key to quality reviews is filtration. Revain makes use of the artificial intelligence to make sure that there are good quality reviews with a secondary set of manual reviews. They do not involve third parties. The IBM Watson platform facilitates automatic filtration that specifically looks at the tone of the reports. After that, they filter them based on specific parameters like social tendencies, language style, and emotion.
There may be other parameters that can help in deciding on reviews. Some of them are review characteristics, manual and automatic filtration results for review previews and posting frequency. A combination of these factors can make sure that there are high-quality reviews and freedom from reviews posted by bots.
The transformation of reviews today and tomorrow
The key to decision making is information that people may invest in when they make a purchase or in ICOs. After the release of Revain’s v0.2 last December, they are now moving ahead to enhance their platform. This year, their goal is to add more ICO projects to the platform. Recently, they released v0.3 that crings to light enhancements in the interface as well as the overall design. They were able to add animations, graphs, data widgets, price dynamics and percentage in token price increased. More ICO projects can help in taking the testing phase to the next logical step of creating reviews. They set a target of linking the Blockchain to the review platform this 2018. There is also a partnership in the works with NEM that will allow feedbacks on startups with basis on a particular platform. Since Revain is expanding their geographic reach, they also came to a strategic partnership with Dtec.ae about the integration of Revain with Dubai’s startups.
These developments in the Revain project are necessary to forge a strong ICO market. It may also become a chance for a host of other Internet-based services or systems to bring in a new era of trustworthiness.