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BELGRADE, SERBIA (14 August th 2018) – Review.Network, a blockchain-based startup focused on improving the sector of market review and research, revealed today that it has managed to get $ 1.4 million (USD) successfully from seed investors. Support to capital, which was also provided by private investors, will be allocated to the payment of the team and to the process of developing the platform.
The "Yelp"! Of Blockchain ", as often referred to, currently has 100,000 beta users and is supported by a group of individuals who are experts in areas such as technology, universities and financing, the company has also announced the official start date of its Initial Coin Offering (ICO) ), which should start on September 1 st 2018
"Consumers all over the world often form opinions and make decisions – such as where to eat, sleep, drink, play and even work – based on reviews online " Review Network's CEO and co-founder Filip Karaicic said
He went on to highlight the two most important issues currently affecting the review industry: effectiveness and transparency. they have revealed relationships and data, people are more inclined to make reviews when they have experienced a negative experience with the service or product, which means that no representation is provided accurate ion for all sides of the question; and there are also many fake reviews.
Karaicic states that through the use of distributed accounting and AI technologies [artificial intelligence] they have developed a way to stimulate reviews and ensure their accuracy.
"We have also identified a way to allow brands to tap into our validated market research review base, which we are thrilled to announce, validate our approach and help us develop this event even faster. . "
According to Review Network's detailed whitepaper, their platform was developed to improve effectiveness and transparency in two simple implementations. The first includes a well-calculated token economics system that monetarily rewards and motivates contributors that are beneficial to the community and penalizes those who are not.
The second implementation involves the community decentralized consensus system that allows the community to self-regulate. For example, when a review is written, it goes through a validation process conducted by selected community members (selection is made by reputation, by blind auction, by chance or by considering the quota they have in the system).
In addition, the network will serve as a convenient means by which companies can connect directly with users performing reviews, thus ensuring more honest and accurate market research. The platform will be used in all types of industries (restaurants, hotels, etc.) and will be made available in Beta mode in the fourth quarter of this year. When it is in its Beta version, the platform will be accessible to its 100,000 Beta users.
The Review Network team consists of over 30 experienced and skilled staff members, including such names as: Robert Golladay – former head of IBM's European digital automation business branch; Reinhard Fellmann, Ph.D. – former investment banker Morgan Stanley and lecturer of the London School of Economics and Political Science; and Ivan Bjelajac – a former director of GoDaddy (EU).
Currently, the company is in the pre-sales stage, with the launch date of the ICO to be held on September 1 2018. There are ongoing discussions with many popular exchanges including OKEx, Huobi, Cryptopia, Bitfinex, Bittrex, Kraken, Poloniex, Bibox, Bcex and hitBTC, to list the token on their platforms.
Review.Network Information
Offering a means by which businesses and consumers can interact directly, Review.Network can change the way companies do their market research. A precisely targeted user community will be incentivized to respond truthfully to surveys and review products and services through a reward system. This rewards system will also lead to the creation of a social network with valuable feedback, which will produce unbiased and relevant data for companies in a key sector of the population.
For more information, please contact the following address: [email protected]
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