On-chain reviews

Every web-based marketplace is plagued by the same problem: fake reviews. Buyers on e-commerce sites have no way of knowing if the posted reviews are real or not, which is a problem for vendors who want to prove the value of their products. The solution we provide is simple: personal, blockchain verified reviews that prevent review bombing and malpractices. After an item has been tracked, the buyer’s blockchain wallet is authorized to post a review by scanning the product’s QR code, which certifies the authenticity of every review on the platform; the vendor can incentivize users to post reviews by offering a reward in GYQ tokens. All the reviews of the same batch of products will be linked by the hash of a common tracking transaction added in the metadata of each review, enabling our web platform to show all reviews associated with one product by querying the blockchain.

Reading through reviews has become an essential part of the customer journey towards purchasing. Psychologically, a great deal of value is placed on the opinions and behaviors of others: 91% of people regularly read online reviews and 84% of people trust them as much as personal recommendations, with as little as six reviews needed to form an opinion on a specific product. That is because of social proof: reviews represent multiple perspectives of “real people” who are seen as more impartial than information offered by the brand itself; however, customer’s psychology analysis shows that not all buyers are incentivized to post reviews, which can lead to highly polarized results.

The incentive for writing reviews is usually a heightened emotional response, either good or bad: a very positive or negative experience will prompt a customer to communicate his feelings, in order to feel as if he’s part of a larger community where his voice is heard. Incentivizing reviews with tokens leads to a more diverse range of feedback, one which can lead customers to make more accurate purchasing choices and ultimately create a new experience of e-commerce, one that is not polarized by stellar fake reviews and disgruntled customers.

Logyq will set a new standard in how customer feedback plays out in online shopping, which will set it apart in terms of customer experience.