WHAT ARE REVIEW SITES, AND HOW BLOCKCHAIN CAN HELP?

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What are review site ,and how blockchain can
help?

• Blockchain a revolutionary technology has taken
  the world by storm. Although it was initially a
  part of cryptocurrency exchange, it has now
  outshined its traditional use and finds its
  application in various other fields. Whether it
  is about tracking the product or managing the
  information, blockchain provides the base or
  everything. However, its role is now no more
  limited to just financial transactions, but you
  can find myriads of uses of the blockchain. In
  this blog, I will be highlighting the use of
  blockchain in managing review sites. You might be
  wondering why would review site need blockchain
  or how will blockchain help the review sites.

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• Well, all your queries will be sorted in this
  blog. But before heading further and
  understanding how blockchain will help the review
  site, lets understand what review sites are,
  what is its importance and what is its drawback.

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• We know that online purchase has picked up the
  pace and around 58 of consumers take into
  consideration the online review site once a week.
  These websites do influence the buying behaviour
  of the people. Research reveals that 93 of the
  shoppers say that the testimonials and reviews
  left by the customers influenced their buying
  decision. So, you see that review websites do
  have an important role to play. But, its not all
  good when we talk about the review industry.
  There are certain drawbacks which it has that has
  made us think about a new technology that can
  help these review sites overcomes these
  loopholes.

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Challenges in the current review website

• Fake Reviews Well its a known fact that review
  sites are always dicey. You dont know whether
  the reviews that you are reading are genuine or
  paid. Advertising usually finances them. Thus,
  there are legitimate issues that surge when it
  comes to reviewing websites.

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• Dependence on Tech Giants Data now drive the
  market. Most of the tech giants have now stepped
  into the world of data. With the surge of this,
  even the big brands depend on this tech giants.
  Under such circumstances, that these industries
  have a monopoly in the market. They can change
  the algorithm and how things work for them.

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• The polarisation of reviews While searching
  through a particular product you would have seen
  that there are products or services or companies
  that have extremely positive or extremely
  negative reviews. Under such circumstances, the
  buyer fails to understand whether to believe
  these reviews or not. Thus the review sites lack
  trust and faith. Companies often use paid reviews
  to impact their competitors adversely.

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• Thus we see that the current review sites are
  profoundly influenced and are unmoderated. Anyone
  can log on to your portal and leave negative
  feedback. This adversely impacts the companys
  performance and reputation in the market. This
  has created a gap in the market and a need for a
  technology that can help in making the review
  sites more trustworthy.

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How will Blockchain help?

• Blockchain, as we all know, is a distributed
  ledger technology. In here all the information
  are stored in chronological order. You can
  anytime look at this ledger and track any
  particular piece of information. Since all this
  information is time stamped, it becomes
  effortless to trace any information and its
  authenticity.

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• Now comes the question how will blockchain help
  the review sites? Transparency is the first thing
  which a blockchain powered platform will offer.
  It will provide users, merchants, and third
  parties with a clear view of the entire protocol
  which governs the review mechanism. Moreover,
  with Blockchain, you can see through the entire
  activities.

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• Immutability- Blockchain has an active feature of
  immutability. Once the reviews are entered on the
  Blockchain-enabled platform, no one can change
  it. If anyone tries to do the same, one can
  easily trace it.
• With these two essential features of Blockchain
  it can easily cut down the flaws in the current
  system, and you can easily manage the entire
  system. Moreover, with the help of blockchain
  technology, you can manage the whole reviews. It
  will further create trust, and the customers will
  get a genuine opinion.

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• Conclusion
• Blockchain is an excellent platform for coming up
  with a new system and procedures that can
  guarantee the seamless flow of information.
  Review sites are just one of the critical aspects
  and use of blockchain. The objective behind the
  blockchain technology is to come up with a system
  which is transparent and easily manageable.

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Blockchain Council Certifications

• You can check out our certifications, and kick
  start your career in the Blockchain space today.
• Certified Blockchain Expert
• Certified Blockchain Expertv2
• Certified Blockchain Developer
• Certified Smart Contract Developer
• Certified Solidity Developer
• Certified Ethereum Developer

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