The use blockchain technology gets even better. We have heard how different industries utilize the blockchain technology to enrich and restructure their current processes. These developments impact not just their businesses, but their consumers too.
Another interesting development on blockchain is set to influence the customer review system.
A social networking app that focuses on getting restaurant reviews will be utilizing the blockchain technology to make customer reviews more genuine. The platform aims to lock-in the reviews for it not to be altered, hidden or even removed by other users.
This will make customer reviews and feedback more credible as it prohibits any changes done for the specific testimonial.
Blockchain-Based App Munchee Makes Restaurant Reviews More Credible
Munchee, a blockchain-based social networking app for food reviews, has the potential to make food reviews more credible than existing apps in which reviews can be manipulated. As such, the Munchee app will be used as a marketing tool by restaurants that gain favorable, credible customer ratings.
By using blockchain technology to authenticate reviews, Munchee guarantees that reviews are not altered, censored, hidden or removed.
The Munchee platform will provide a proprietary cryptocurrency token to incentivize both consumers and restaurants to use the app.
In addition, the app’s payment network removes the need for third-party payment networks that charge fees that undermine restaurants’ profits.
A key aspect of the Munchee platform is the peer review system. Every review undergoes peer review by other Munchee users. The system is designed to ensure that only quality restaurant reviews are accepted on the Munchee platform. The system is also designed to prevent invalid or fake reviews, a problem that restaurants recognize with other review apps.
Users must review a post created by another user to gain permission to create their own post and earn MUN tokens.
Each peer review offers the choice to either approve or flag the post. An approval indicates that all required fields in the post are correctly listed, including the name of the restaurant, the name of the dish, the price range, the rating and the review category. The post must also include a photo taken by the user.
An odd number of end users will be chosen at random to review each post.
Once all reviewers have completed the review process, the total number of passes and flags are totaled. If the post passes, the poster is notified and rewards are sent in seven to 10 days. Should it fail, the poster is notified and the post is not published.
Munchee uses machine learning to mine user preferences to suggest suitable reviewers for peer review based on criteria such as location, language, food category, food preference, etc.
Restaurant Reviews Earn Rewards
Munchee users are rewarded with MUN tokens for providing reviews, regardless of their content. The rewards will encourage participation and ensure transparency.
The platform will attract users since they will be able to earn tokens by participating in contributing to the quality of the content in addition to being able to access trusted content.
To encourage customer reviews, the top 20% of users in a 7- to 10-day period will receive additional tokens. These tokens will be offered from Munchee’s token reserve.
Contributors who perform in the top 20% regularly will receive additional tokens. Top tier reviewers are determined based on the number of posted reviews as well as the number of pins and likes they receive in the 7- to 10-day period.
Munchee will store a signature or fingerprint on the user ID, timestamp and hash value of the post on the blockchain, enabling Munchee to verify all reviews.
Other Token Uses
Restaurants will be able to buy MUN tokens and offer them as rewards to customers in exchange for reviews, including photos. Restaurants will also be able to accept MUN tokens as payment.
In addition, restaurants will be able to use MUN tokens to buy advertising on the platform, which will incentivize customer reviews.
Users, for their part, will be able to use the tokens to redeem food and services, including delivery, from restaurants.
They will also have the chance to exchange tokens for advertising on the Munchee app, and will be rewarded tokens for referring new users.
In addition to reviews, the Munchee app will provide instant visual search results for specific dishes, and offer information about the price to help users make an informed decision. This feature not only helps the customer make a decision. It also gives restaurants the chance to showcase their dishes.
Token Presale, Sale Slated
There will be a total supply of 500 million MUN tokens, of which 225 million will be listed for sale on a token presale on Oct. 31, 2017 with 275 million MUN held in reserve. The main sale will be on Nov. 8, 2017 or when the hard cap for the presale period is met, whichever comes first.
Within 30 days of the conclusion of the token sale, MUN will be listed on at least one U.S.-based cryptocurrency exchange.
Munchee will offer a 5% referral reward. After buying MUN tokens, the buyer will be given a referral URL that they can send to friends. As a reward for helping, they will get a bonus of 5% of the MUN tokens the referral buys.
The Munchee app completed its closed beta in the fourth quarter of 2016 and its public beta in early 2017. The iOS app launched in the spring of 2017 while the Android will launch at the end of 2017.
The app has more than 3,500 Instagram followers and 16,000 Facebook followers.