What is Blockchain?
A blockchain works in blocks, where as a spreadsheet works within rows and columns. A block in a blockchain is a collection of data like cells in a spreadsheet but with a blockchain it is copied via a distributed ledger, which means that a ledger is spread out across a network of peers called nodes in the network, and each node holds a copy of the complete ledger.
This blockchain or distributed ledger always maintains the exact information and a consensus is required to validate all entries to the blockchain. This is why it’s impossible to delete or modify something within the blockchain. It would take the whole network as a whole to make the change and that simply won’t happen. Far too many nodes in the network.
Why Use Blockchain for Reviews?
Because entries to the blockchain are immutable and can’t be changed or modified, it lends itself very well to online reviews. This is because online reviews on major review sites have a tendency to be changed or deleted in pay to play situations. This has eroded consumer confidence where online review sites are tainted with fake reviews or reviews become missing over time.
Posting reviews to the blockchain has shown to increase online reputation and in turn increases consumer confidence. This level of trust and transparency is critical in the ecommerce world of today. Having reviews and having trust and transparency is paramount to the success of any online business.
Blockchain as a Service
When we say Blockchain as a Service or BAAS we simply mean that you can use our blockchain to post your reviews and replies to. All this is done via a white label solution designed to show the blockchain and its reviews under your site and brand and this helps increases your reputation, trust and revenue.
If you’re interested in our blockchain as a service solution we’d love to hear from you.