Press Release
PRESS RELEASE. Georgetown, Cayman Islands, May 10, 2022 – Today, HUMAN Protocol has announced that it has awarded a grant to VeritaTrust to power on-chain reviews.
The announcement was made by HUMAN Protocol’s $10 Million funds dedicated to grantsVeritaTrust’s work is their first grant since its inception.
VeritaTrust wants to give reviewers cryptocurrency in return for reviews of products or services. The company also plans to make use of blockchain technology to keep track reviews as well as to establish the reputation of the reviewers. The VeritaTrust project is expected to ramp up the on-chain activity for HUMAN Protocol; and offers new utility to the Protocol’s native token, HMT, which will be used to reward reviewers.
“It is a highly compatible partnership,” said Andreas Schemm, who heads up the grants program for HUMAN Protocol. “We are delighted to be working with the VeritaTrust team; to fund their work as they seek to build using our blockchain technology and reward mechanisms to improve e-commerce solutions.”
Brahim Ben Helal, founder of VeritaTrust and former Head of Strategic Development at Trust Pilot said: “HUMAN Protocol share our vision of rewarding contribution. So far, they have successfully brought hCaptcha on-chain to allow people to earn for their ‘clicks’. Their method of evaluating and paying out micro-work on-chain is a great solution for our needs; by leveraging this technology, we can automatically pay out reviewers automatically on-chain thanks to the power of smart contracts.”
The HUMAN Protocol
The HUMAN Protocol provides a broad-based solution for managing distributed workers. It started by bringing hCaptcha – the bot blocker – on-chain, to reward individual workers for the key ML work they were completing by solving these CAPTCHAs. This has now been extended to tokenize any contribution. The ability to organize the management, evaluation, reward and distribution of micropayments among many people is a result.
Review are, in this way, just another kind of work (or value-added) that can be rewarded with blockchains. HUMAN foresaw the potential application of such a project. Their blog post about the potential benefits of projectsBlockchain technology has made it possible to create cryptocurrencies such as VeritaTrust.
VeritaTrust
VeritaTrusIt helps online retailers improve their shopping experience. 9 out 10 customers read product reviews before making a purchase online. They hope that by posting trusted reviews on blockchain they can reduce abandonment of carts and increase conversion rates.
VeritaTrust tracks customer reviews in order to give customers a reward. They employ blockchain, A.I and machine learning, to create a plug&play SaaS solution to build a complete customer review strategy.
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