Here’s how Britevue taps BSV blockchain to power online reviews
Did the manager of the restaurant you just ate in ask you to write a review for them? What about a hairdresser who gave you your favorite cut yesterday? Did the movers you hired ask for a kind word or two about them online? The answer is likely to be yes.
Most of us have been asked to write a review for a business, individual, or product, but few of us have followed through with the request. Why? There are several reasons: time, effort, uncertainty whether it would be published or not, etc. Platforms like Yelp sometimes do not approve of reviews by people who seldom post them, considering them "not recommended."
Nonetheless, online reviews are increasingly becoming a crucial part of marketing and advertising for businesses regardless of their size and reach. A study in 2020 showed that people are 270 times more likely to buy a product with five reviews than those with zero. According to Forbes, online reviews have been shown to impact 67.7% of purchasing decisions, and this number only stands to grow as technology becomes more credible and consumers become more vocal. Businesses need reviews to flourish. Whereas word of mouth sufficed in previous times, reviews today are part of business digital marketing strategies.
Although the online reviews space draws a good amount of interest, it lacks attributes that disincentivize even the most passionate would-be reviewers. Why would people invest time in writing an elaborate review for a business they may or may not use again? Well, if the lack of incentives is holding you back, Britevue is your friend.
The idea for Britevue was formed in Italy when a tour guide asked CEO Connor Murray to write a review for him. "I realized that the only way I'd ever spend an hour [writing a detailed review] as if there was a proper incentive to do so," he said. "I was never going to see this guy again—I didn't even live in the same country as him—so there was no incentive for me to write a proper review except for goodwill. That's when it struck me that there was an incentive problem with reviews."
Britevue is an incentive-based platform that uses public blockchain—the BSV enterprise blockchain specifically—to issue a proof of purchase onto the blockchain that can be linked to the review later. This verifies that the person leaving the review is the same one who purchased the product. The BSV blockchain addresses the issue of authenticity and helps businesses know how to reward users for good reviews. Britevue will enable them to issue rewards such as coupons, gift cards, etc., in exchange for these customer reviews.
Murray said: "We want to make it very easy for all businesses to do this, and fortunately, Bitcoin's tokenization capabilities allow us to do that. We are building a business portal where businesses can come in and manage on-chain rewards for consumers that leave reviews."