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What Is Revain?
Revain is a blockchain-based business analysis and acknowledgment belvedere agnate to Yelp or Angie’s List. Businesses incentivize users to leave accessible acknowledgment that’s acquaint to Revain’s agenda balance on the Ethereum blockchain. And users are incentivized to analysis each other – alongside an bogus intelligence-powered neural arrangement – to actuate who earns RVN, the ERC-20 cryptocurrency badge of the Revain network.
RVN is again exchanged for R, Revain’s crowdfunding badge awash during the ICO.
Revain’s RVN badge is not to be abashed with Ravencoin (RVN), a absolutely altered activity from a altered team.
Both users and companies can assurance up for a chargeless basal or paid exceptional annual to participate in the Revain analysis ecosystem. Companies can adios apocryphal reviews, abundant like on Yelp, and the altercation action is arbitrated through a accumulated AI and animal babyminding system.
Consumer assurance in announcement is at an best low, with over bisected of the population in countries like the U.S., U.K., Australia, and Germany advertence advertisements with affected news, according to Rakuten Marketing. They’re not far off, but that’s a discussion for addition day.
Nielsen’s Global Trust in Advertising reports consistently rank articulate business from accompany and families as the best trusted business platform. Online reviews appear in a abutting second.
Russia-based Revain is acquisitive to absorb the best of both worlds, starting with its amount user abject of cryptocurrency activity and barter fans. Peer reviews of crypto projects are adamantine to appear by in a unified atom these days. Publications like Crypto Briefing do what we can, but you charge to antecedent the acumen of the army afore advance in an ICO, STO, or absolute crypto project.
Once it proves this model, it affairs to aggrandize to added markets, eventually aggressive with the bequest platforms listed above, forth with Google, Amazon, Rotten Tomatoes, and added user-review platforms.
There are cracks in the project’s armor to attending out for too. The bifold badge system, badge allocation, and affidavit complete added like a spammy email affairs addendum amplification pills than a accepted business.
To accept the team’s chances, we’ll alpha by reviewing Revain’s RVN and R cryptocurrency tokens.
R and RVN Cryptocurrency Token Summary
Revain’s RVN tokens are becoming by announcement reviews that acquire upvotes for advantageous content. You’re awarded 0.1 RVN for announcement your aboriginal acknowledged review. From that point on, RVN is awarded by the companies actuality reviewed, not Revain.
RVN tokens are stablecoins with the amount anchored to the US dollar, but they can not be pulled out of the Revain ecosystem, so it gets a little complicated.
RVN tokens were initially described in the whitepaper as accepting a anchored barter amount of 1 RVN to 0.0001 BTC. But in a blog column on October 29, 2018 blue-blooded “Your Ultimate Token Guide. How to Receive Awards on Revain Platform,” the aggregation states the anchored barter amount is absolutely 1 RVN to 1 USD.
The alone way to abjure RVN, however, is by aboriginal converting it to R tokens (at an barter amount that seems to be set at will by Revain with no recourse), which is again traded on cryptocurrency exchanges.
Revain’s R tokens have a absolute accumulation of 484,450,000 R. The aiguille amount of R badge so far was $3.40 on February 13, 2024.
The Revain ICO badge auction was captivated from August 21 through September 4, 2024, affairs 263,500,000 out of 700,000,000 offered for sale. The Revain ICO aloft about $12,513,346 account of BTC, ETH, LTC, DASH, XMR, ZEC, and more, before its bendable cap of 2024 BTC.
Of the calm funds, the aggregation provided the afterward badge distribution:
Revain refers to its R badge as a “crowdfunding” token, and that’s beautiful verbiage.
The SEC and added government regulators are, we believe, acceptable to see them as “securities,” in which case they would ultimately represent one allotment of stock. This agency Revain may be the majority buyer of R tokens for now, but it can calmly be bought out back it doesn’t ascendancy 50 percent of the supply.
Approximately $2,000,000 account of R is traded on a circadian basis. Cryptocurrency exchanges that acquire R accommodate DragonEX, OKEx, BitForex, and HitBTC. R trading pairs accommodate USDT, ETH, and BTC.
As an ERC-20 token, R can be stored in any ERC20-compatible wallet, including MyEtherWallet and the Ledger Nano S accouterments wallet.
How Revain’s Ecosystem Works
On the surface, CEO Rinat Arsloanov’s Revain activity looks to be Yelp on the blockchain. It’s a abundant abstraction that’s actual adamantine to apparatus in the absolute world.
It has KYC in place, a absolute of 5 reviews per day allowed, and a machine-learning algorithm that monitors and filters reviews afore they’re appear to the blockchain. This algorithm is based on the IBM Watson platform.
Revain says this blockchain is immutable, so already a analysis is posted, it’s there forever, aloof like Bitcoin’s almanac of those shrooms you affirm you didn’t buy on Silk Road in 2024.
It has surface-level online appointment rules in abode but annihilation to ascendancy paid ads. In fact, it encourages what anybody abroad is angry – affected news.
Revain wasn’t the aboriginal to ascertain that online reviews can amplitude customer acquirement habits. Marketplaces like Amazon, forth with analysis forums like Yelp and the BBB, accept continued chastened customer reviews of businesses, brands, and their offerings. It’s a connected battle.
A Zendesk abstraction begin 88 percent of consumers fabricated a acquirement afterwards account an online review. And adeptness businesses will accelerate chargeless articles or payments to bodies in barter for reviews.
It’s not aloof accustomed consumers either – I accept my own claimed acquaintance with affairs free articles from PR reps to analysis on my claimed blog platforms. It’s allotment of the agreeable business industry, which includes business agreeable acquaint on amusing media, blogs, media, forums, etc.
Platforms like Amazon, Google, and Yelp do their best to police affected reviews, but it’s an acclivous action with a lot of money and assets abaft it. A fake review can get your armpit delisted, one of abounding affidavit Crypto Briefing takes a adamantine attitude adjoin paid reviews and placements.
Of course, not every crypto media aperture feels the aforementioned way, and abounding are willing to acquire paid posts in a chase for agreeable and views.
The above blemish in Revain’s belvedere is that it plays into the easily of the businesses and brands application paid media.
Revain doesn’t affair its RVN tokens in barter for reviews. The businesses actuality advised do this, and (despite Revain’s business abstracts touting its blockchain’s immutability) the businesses actuality advised accept the advantage to annul or adios reviews afore they’re posted.
Consumers are incentivized to address a favorable review, article that’s accessible from an antecedent attending at Revain’s accepted reviews. No activity with 100 or added reviews has a account beneath 4.0, and the aggregate of the reviews are amid 4.0 and 5.0 throughout the absolute platform.
Paid reviews on Amazon are negotiated offsite on Facebook to abstain actuality bent actionable Amazon’s agreement of service. Russia is accused of using Facebook to access 126 actor Americans during the 2016 U.S. election.
Fake account is aggressive in this world, and it ultimately boils bottomward to one catechism – who do you trust?
Revain is a archetypal Russian exchange area businesses pay for reviews and aggregate skews positive. American marketplaces actively abstain such approach to bottle assurance in media. Who do you accede with?
Revain Summary
Revain is a business belvedere in the anatomy of a Yelp-like online analysis platform. Businesses incentivize users to leave accessible acknowledgment that’s acquaint to Revain’s agenda balance on the Ethereum blockchain. The success of the activity depends on these three key factors.
With these pieces in place, Revain has a attempt at actuality Yelp for the blockchain. Its business archetypal conflates media and marketing. But they may be on complete acknowledged ground, alike in the US – the 9th U.S. Circuit Court of Appeals has disqualified that alike if Yelp manipulated reviews to amerce businesses that did not acquaint with the company, it would still not be guilty of actual, baseball-bat, talk-to-my-little-friend extortion.
Money talks. And a ample user abject would absolutely be powerful. Until then, this is a belvedere that seems to action little in the way of advance above the absolute paradigm.
