As a wise shopper, whether of clothes, shoes, accessories, baby or home essentials, lifestyle or techno gadgets, appliances, financial or investment product or some other product or service, we always make it a point to first read reviews of the items we want to purchase before adding them to our shopping cart. Why, because our choice ultimately depends on expert reviews, customer testimonials and ratings.
Let’s say, you want to shop for a smart phone. A quick search on the internet gives you tons of options, so you filter the results such that only the highly rated ones show up. This, you do because you believe that highly-rated items will give you the best value for your money. Then you filter the choices further, this time, by reading the testimonials.
We can see how ratings and testimonials influence a buyer’s decision. But we can also see that there are flaws in the way the current rating system works. Data privacy is compromised, for one. The rating systems we have today mostly have no, or have very little means to protect the rater’s rights to privacy. Also, aren’t raters to be rewarded for putting in their two cents? Merchant sites encourage customers to write down feedbacks, but what is it in store for them in exchange for giving their reviews? Positive feedbacks and high ratings attract customers and they are good for the company, but what’s in it for the customers who contributed to make it happen in the first place? Even if, let’s say, consumers simply love to share their ideas about a product or service without expecting anything in return, don’t they deserve to be rewarded anyhow? And how do you think will they feel if they are rewarded for their opinion? Of course, they will be motivated to write high quality reviews next time, will they not?
Looking at the current rating system from the viewpoint of the company this time, we can say that it’s not 100% advantageous, either. System inefficiencies are, in fact, forcing companies to conduct further verification of the ratings or do some extensive filtering work to ensure the consumers get to read only those reviews that are valid, real, relevant, and those that actually make sense.
Well, the rating system is in for a major transformation as Rateonium integrates it with blockchain technology. It’s a bold step for the Rateonium team to take, but a necessary one as it will bring in many benefits both to the raters and the ratees. Rateonium, as a blockchain-based rating platform will help address issues on privacy, pave the way for cryptocurrency adoption, and provide the infrastructure that will enable the giving of incentives to the people.
Taking to heart the need to protect personal data, Rateonium is developed to be equipped with multiple layers of security and control measures. Raters are able to maintain their anonymity and are also assured that all data, when transmitted over the blockchain platform, can no longer be modified or duplicated.
Meanwhile, in order to address the companies’ concern to step up the verification standards and process, Rateonium will allow a rigid verification process that will guarantee that reviews are the customers’ real accounts of their actual experiences, and not done with malicious intent just to put them in a bad light. Other than that, companies will have the opportunity to upload their profile on the network, and considering how vibrant and big the Ratenoium network is expected to be, this already serves an assurance that they will have a spot in the limelight.
To get started, customers will have to download the Rateonium App first, and then sign up for an account. Users need not worry about their privacy getting compromised as personal data will be encrypted following Rateonium’s security protocol. As registered users, customers will have the opportunity to read reviews, marking them as helpful if deemed so. They will also be able to write their own reviews and get rewarded for them. The Rateonium App will be integrated with a wallet to store the tokens and show their tolen balances. Users, too, will be allowed to transact with one another or donate their tokens to a worthy cause.
To give you an idea, this is what the Rateonium App looks like:
As earlier mentioned, Rateonium is being worked up to become an incentive-based platform. Working around the concept of rewards, Rateonium will develop two internal currencies, the Rateonium token and the Ratec token. The Rateonium token, which will be given to consumers who can make a review of the company, may be redeemed for products or services from partner sites. Ratec, on the hand, will be offered for sale during the Token Sale Event, and will be allowed to be traded on the market but cannot be redeemed for products and services, unless first exchanged for Ratenoinum coins.
This move to create two internal currencies to step up the ratings platform is, without a doubt, is an innovative concept that will redound to high quality and relevant reviews, companies becoming more receptive to the voice of the people, and an extremely motivated consumer community. As consumers ourselves, we will be among those who will benefit greatly from the Rateonium project.
Token Details:
Token: RTC
PreICO Price: 1 RTC = 0.000091 ETH
Price: 1 RTC = 0.000182 ETH
Platform: Ethereum
Soft cap: 32,000 ETH
Hard cap: 84,234 ETH
Country: Macedonia
For more information, visit the following pages:
Whitepaper: https://rateonium.com/whitepaper.pdf
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=4796158.0
Website: https://rateonium.com/
Telegram: https://t.me/rateonium_community
Twitter: https://twitter.com/rateonium
Youtube:
Bitcointalk User: Kalikanan
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2079149
