The first Bitcoin Association Pitch Day, held in October, saw blockchain startups at all stages of the development cycle pitching their projects to investors.
One of those projects was TrueReviews, presented by CEO Connor Murray. Built on Bitcoin SV (BSV), the platform aims to address what Murray calls the incentive problem with online reviews, to create a fairer, more effective way of leaving and gathering consumer reviews.
In a well-received pitch, Murray set out the rationale behind the development, which he believes will revolutionize the way in which online reviews are solicited and left in the future.
At the moment, Murray says there is no real reason or incentive for consumers to leave reviews—unless they have had a particularly bad experience, and choose to review out of vengeance.
Through TrueReviews, Murray aims to change this dynamic, leveraging the unique properties of the BSV blockchain to deliver a better system for online reviews.
Murray says this can be achieved by tokenization, and issuing redeemable rewards to consumers who go on to leave reviews online, via the BSV blockchain.
“We’re trying to solve the incentive problem with online reviews. A third of customers leave unsolicited reviews—we’re looking to find ways through tokenization to incentivize more people to review their experience.”
Using microtransactions, businesses can incentivize and reward customers from leaving reviews, which should balance those leaving reviews motivated by vengeance. Murray says the net effect is a more transparent, more accurate system of reviews in the long-term.
On his reasons for developing on BSV, Murray said Bitcoin was the only platform with anywhere close to the scaling potential necessary to handle the volume requirements of this type of system.
The project was met with approval from the investors and industry players in the room, one of a number of businesses selected to pitch at the event.
Applications for the next Pitch Day event are currently being accepted, with all firms developing for BSV welcome to apply. The event is set for the CoinGeek Conference in London, due to take place in February 2020.
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