4-and-a-half stars and 700+ reviews on Yelp—that’s an easy bucket list addition for most. There’s one issue: at least 1 in 51 of those reviews were likely paid for, either by the restaurant or its competitors. Even worse, many suspect these online platforms of “pay to play”, where restaurants who pay for ads are rewarded with more visible positive reviews. What are we left with? Some legit reviews and others who gave a 1 star because the tacos were cold (even though tacos aren’t on the menu).
It doesn’t have to be this way. Thanks to blockchain technology, there’s now a solution.
Here’s the gist of it: every review goes through a jury vote before getting published. Jurors are randomly selected from a willing pool of users, and independently vote to decide whether to approve or reject a review based on shared criteria. To become a juror, you need to “stake” a certain number of tokens. (The next section explains what these tokens are.) If you vote in the majority, you get your stake back—and are rewarded with additional tokens. Otherwise, you lose your stake. This way, jurors are incentivized to make the right decision. And once a review is published onto the blockchain, it stays there. We can’t take your review down, even if you pay us.
No mysterious filtering algorithm. No unaccountable group of hired moderators. Questions of fact should be decided by your peers, not a for-profit corporation.
So what exactly are these tokens? Think of them like Bitcoin—once they’re yours, nobody can take them away from you. Unlike Expedia reward points and other in-app currencies, you can transfer or even sell them on widely used exchanges. Crucially, these tokens will be the native currency on crowdEats: jurors need them to stake, and, eventually, advertisers will need them to advertise. You earn tokens by voting in the majority on a jury, and also by writing high-quality reviews that get approved and published. The more you contribute, the more you get paid.
This is a revolutionary concept. For decades, companies like Yelp have profited off the free labor of its millions of online contributors. With crowdEats, you can finally get your cut.
The more people that use a crowd-sourced platform, the more valuable it becomes. crowdEats takes this a step further: the more people that use crowdEats, the more valuable your tokens become. Why? As the network grows in popularity, more users will purchase tokens in order to stake and earn rewards as a juror. A growing user base will also attract the attention of advertisers, who will need tokens to pay for advertising. And this is just the beginning of what’s possible with tokens.
As the network grows, so does your wallet. The earlier you contribute to the network, the more your tokens will be worth later on.