Blockchain NewsHUMAN Protocol Foundation has announced today that VeritaTrust has been given the grant to enable on-chain reviews using their Protocol. It’s exciting to be the first recipient of a grant from VeritaTrust after HUMAN Protocol announced a $10 million grant fund for the program’s grantees.
With the use of blockchain, VeritaTrust hopes to compensate users for their honest assessments of goods and services and monitor the reputations of the reviewers who leave them. In addition, by rewarding reviewers with the Protocol’s native token, HMT, the VeritaTrust initiative aims to boost HUMAN Protocol’s on-chain activity. “It is a highly compatible partnership,” said Andreas Schemm, who heads up the grants program for HUMAN Protocol.
Schemm stated:
“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.”
Dispersed workforces may benefit from HUMAN Protocol, a universally applicable solution. First, hCaptcha was implemented on-chain to recognize and reward individual employees for their valuable contributions to machine learning (ML) research that they could do by resolving CAPTCHAs. As a result, it can now be used to tokenize a broader range of contributions. This makes it possible to monitor and reward micropayments for various contributions.
Brahim Ben Helal, founder of VeritaTrust and former Director of Strategic Development at Trustpilot, 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 pay out reviewers automatically on-chain thanks to the power of smart contracts.”
Therefore, reviews might be seen as another kind of job or value creation for which blockchains can provide financial compensation. In a blog post regarding the possibilities of blockchain-based initiatives like VeritaTrust, HUMAN predicted that such a project would be effective. To reward consumers, VeritaTrust gathers customer feedback from its clients. They use a plug-and-play SaaS solution based on blockchain, A.I., and machine learning to develop a comprehensive customer review approach.
Source: https://thenewscrypto.com/veritatrust-receives-grant-to-power-on-chain-reviews-by-human-protocol-foundation/