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It is a natural reaction for people to take other people's opinions into consideration when making a decision. Whether buying a shirt or something to eat, the internet has given people a social validation that rates the product that is about to be bought, and people take this social validation of a product into account when making a purchase. Over time, consumers have become accustomed to being able to see the social validation any product has before making a purchase. This trend of social verification is especially popular in the service industry.
Most service providers can see their ratings online on either some website or application. While most people give a strong consideration to social reviews of a service provider, the reality is that many of them can be fake. Even a single negative review can break the reputation of a service provider, whilst a good amount of positive reviews can help a service provider stand out against all competition. There is a lot of incentive for service providers to increase their positive reviews while also giving fake low ratings to their competitors. This ruins proper market functionality as people tend to weigh heavily into reviews, even though there isn't any means to verify the authenticity of a review. Reaching optimal market operability in every industry may be left as a long-term goal, UChain is a new blockchain that can bring legitimacy to the service reviews within shared market economy.
Reviews Matched with Transactions
UChain is a blockchain dedicated to bringing optimization to the shared markets. A key focus of the development is to remove the financial or operational middlemen that exist in the market. However, a key positive externality of this development will bring efficiency in an additional way: verified reviews.
Consumers who will use a service on any of the decentralized shared market applications would likely be given the opportunity to review the service; this is a base feature that most developers provide in service applications. However, this time there will be an opportunity to verify whether a review is legitimate or not as the blockchain will record transactions. On the UChain platform it will be easy for users to recognize legitimate reviews as they will be connected to those who actually made a transaction made with the service provider. The mass abuse of creating fake negative reviews for competitors and positive reviews for oneself will be completely eliminated.
Additionally, one of UChain's core mechanics recognizes the value people place in social proofs. The blockchain will make an effort to push users to acknowledge service quality through a trustless offer: credit passports. All members of the UChain will have a record of their behavior; thus, users not only have access to legitimate reviews, but also a native UChain mechanism that attests user behavior.