With review sites such as Yelp exploding in popularity, it is only natural that a blockchain-based review platform is now being developed. Revain is this platform, and it creates a new type of review system where user reviews are permanent and users are rewarded for honestly participating on the platform. Revain is based off of the Ethereum dApp framework which has claimed to offer the pinnacle of scalability and speed for the new generation of decentralized applications.
The Ethereum platform offers the ability for a lot of users to onboard and be able to review businesses across the globe. With recent advances in sharding and the Casper update, Ethereum and dApps built on the network are poised to reach mass scalability very soon.
Revain is utilizing cutting-edge tech within the platform to better prevent spam and fraud, as fake reviews and manipulation of authentic reviews have plagued the modern review market. Revain is partnered with IBM artificial intelligence developers so as to bring the most sophisticated store of reliable review data to the world. Revain is an ambitious project that is taking a very useful tool of the internet and perfecting it for the future.
How Does Revain Work?
Revain aims to clean up and add efficiency to the online review market. They want to create the first source of completely honest and reliable reviews that is free from manipulation and spam of all kinds. Revain plans to attack this issue with artificial intelligence and machine learning technology, which will enable automatic filtering of all content posted on the platform. Prior to the cementing of a review into the blockchain, the content must first pass through what is called the “filtration” stage, where the review is scanned for any signs of fraud or malware.
Due to the AI and machine learning technology, with each scan the platform becomes smarter and more aware of what to detect. Initially, this tech will already be on the lookout for certain warning signs of this type of content, as learned by the developers from years of this type of content being posted on modern review sites. Using this information and smart technology, Revain has the ability to create a next generation review site that cannot be manipulated by any outside source.
Revain Token
Revain consists of two separate tokens. The main token of the platform, the RVN, is given to users who provide honest reviews that pass the initial review process. The platform can also remove RVN tokens from users and companies if they are dishonest or commit fraud, all protected by smart contracts so that the platform cannot do this unlawfully. The RVN token is based off of the inner stable currency raised during crowdfunding, the R token. Due to the developers understanding this R token will eventually run out, the RVN token was created as the inner currency of the platform, for which all of the processes of the platform utilize. The full details and formulas related to the circulation of these currencies around the platform can be found in their whitepaper.
Artificial Intelligence
One of the most important aspects of the platform, artificial intelligence scans the submitted reviews and ensures that they are from real people and are not originating from a bot or other method of spamming. Revain uses IBM Watson’s ability to analyze tones and understand language to filter out non-authentic pieces of content. This creates a truly honest and unbiased review platform that the world can benefit from.
Machine Learning
In combination with AI technology, machine learning allows for past pieces of content that were filtered out to be “remembered” and the surrounding data analyzed for future reference. This allows for the platforms filtering to become smarter with each piece of submitted content. Both AI and machine learning together are a popular new way of managing information, and it provides an unprecedented amount of feedback that allows for fast improvement of the platform.
Smart Contracts
Using smart contracts, Revain has created what they call Review Snapshot Storage, or RSS. This method of storage was created to account for the lack of a true decentralized storage system, and it allows for only a portion of each review to be stored on the Ethereum blockchain. Currently, the Ethereum blockchain could not cost-effectively store the entire review due to the block size and processing power this would take up. As a result, Revain has developed a formula to reduce these down to just the critical information, and whether or not the data has been tampered with. This was done because it is not feasible for large amounts of data to be cost-effectively stored on the blockchain with every review. They have created a formula that makes it simply a snapshot of the review, and allows anyone to view if it has been tampered with without sacrificing efficiency of the network.
Types of Reviews
Revain hopes to support reviews of multiple types of businesses and entities. These include:
ICO Reviews
Revain aims to help users better analyze potentially profitable ICO’s. It will allow for users to see what others experiences were like and whether or not it is a reliable investment. ICO’s have been soaring in popularity due to the large amounts of money they have been raising, but this has resulted in many fraudulent ICO’s. This system will analyze the ICO’s completely, ensuing they have a functioning token model, well-designed product, and solid infrastructure.
E-Commerce Reviews
Revain’s reviews system allows you to surf the web securely. Every purchase you make will be backed up by others who have already purchased it and received the product. You’ll find out more about e-commerce sites you wanted to visit as well, due to the AI and machine learning recommendations based on your activity and others who have similar buying habits. With users being rewarded for honest participation, ecommerce sites will be held accountable for their customer service, shipping methods, and inventory.
Business Reviews
Probably the most widely used aspect of modern review sites, business reviews help to provide an honest source of feedback for business owners across the world, as well as a directory to the best local small businesses. This system not only helps encourage small businesses, but it also keeps businesses honest and motivated to be a truly great service. Revain’s authentic and smart source of information makes finding a restaurant, store, bar, gym, or market easier than ever before.
Crypto Exchange Reviews
Again due to the sheer scale of value being circulated within crypto exchanges and the historical failures such as that experienced in the Mt. Gox exchange and others, trust in popular crypto exchanges has been murky. With Revain’s review system, real users who store money on these platforms will be able to securely post about their experiences, making the exchanges incentivized to provide great end user experiences.
Revain is the first to market in a so far untouched area of dApps, the online review market. Yelp is a massive force, though, worth billions of dollars and already providing millions of reviews for businesses across the globe. Revain brings with it a more modern advantage, as well as the ability to remove instances of fraud and manipulation by dishonest businesses. In addition, users are rewarded for their honest submission of reviews, and penalized for fraudulence, incentivizing authenticity throughout the platform. With a market in need of modification, Revain is poised to become a major force to be reckoned with and may soon be the new go-to source of reviews on the internet.
