HUMAN Protocol Foundation awards grant to VeritaTrust to build on-chain rewards for reviews
HUMAN Protocol has been in the news in recent months. The open-source infrastructure startup made a splash late last year when it launched its HUMAN App with over 200,000 users. Using its blockchain-based permissionless protocol, HUMAN Protocol provides a new way for people and machines to work together. It also provides a way to ask questions that machines cannot answer without human help. That’s why developers are leveraging HUMAN Protocol’s blockchain-based infrastructure to build new apps.
To further enable more developers to build on its protocol, HUMAN Protocol announced today 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 their very first grant awarded since the inception of this program.
VeritaTrust helps e-commerce businesses to improve the online shopping experience. With 9 out of 10 people checking reviews before purchasing online, there has never been more valuable to the merchant or product reviews. By providing trusted reviews on the blockchain, they hope to help reduce cart abandonment and boost conversion rates and loyalty.
VeritaTrust is seeking to reward reviewers with cryptocurrency for their reviews on products and services; and to use blockchain technology to track the reviews, as well as the corresponding reputation of 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.”
VeritaTrust collects customer reviews to help brands reward customers. They employ blockchain, AI, and machine learning, to create a plug&play SaaS solution to build a complete customer review strategy.
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, 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 pay out reviewers automatically on-chain thanks to the power of smart contracts.”
Founded by co-founder and CTO Alex Newman, 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 ML work they were completing by solving these CAPTCHAs. This, however, has become a more broad solution to the tokenization of any contribution; and, therefore, the ability to orchestrate the management of that work, the evaluation of it, and the reward of micropayments to many individuals.
In this sense, reviews are just another form of work, or value contribution, that can be rewarded via blockchains. HUMAN anticipated the applicability of such a project in their blog release about the potential of projects, like VeritaTrust, made possible by blockchain technology.