Georgetown, Cayman Islands, May 10, 2022 — Today, Human Protocol has announced that it has awarded a grant to VeritaTrust to power on-chain reviews.
Following the announcement of Human Protocol’s $10-million funds dedicated to grants, this work with VeritaTrust represents its first grant awarded since the inception of the program.
VeritaTrust is seeking to reward reviewers with cryptocurrency for their reviews on products and services, using blockchain technology to track the reviews and the corresponding reputations of reviewers. The VeritaTrust project is expected to ramp up 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, head of the grants program for Human Protocol. “We are delighted to be working with the VeritaTrust team [and] 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 director of strategic development at Trustpilot, said, “Human Protocol shares our vision of rewarding contribution. So far, it has successfully brought hCaptcha on-chain to allow people to earn for their clicks. Its method of evaluating and paying out micro-work on-chain is a great solution for our needs; by leveraging this technology, we can pay out reviewers automatically on-chain, thanks to the power of smart contracts.”
About Human Protocol
Human Protocol is a broadly applicable solution to the management of distributed workforces. It started by bringing hCaptcha — the bot blocker — on-chain to reward individual workers for the key machine learning work they were completing by solving captchas. However, this has become a broader solution to tokenizing contributions and orchestrating the management and evaluation — plus the rewards of micro-payments — to many individuals.
Reviews are just another form of work, or value contribution, that can be rewarded via blockchains. Human Protocol anticipated the applicability of such a project in its blog post about the potential of projects such as VeritaTrust made possible by blockchain technology.
VeritaTrust helps e-commerce businesses improve the online shopping experience. With nine out of 10 people checking reviews before purchasing online, there has never been more value for merchant or product reviews. By providing trusted reviews on the blockchain, it hopes to help reduce cart abandonment and boost conversion rates and loyalty.
VeritaTrust collects customer reviews to help brands reward customers. It employs blockchain, AI and machine learning to create a plug-and-play, software-as-a-service solution to build a complete customer review strategy.