PRESS RELEASE. Georgetown, Cayman Islands, May 10, 2022 – Today, HUMAN Protocol announced that it has awarded a grant to VeritaTrust to enable on-chain verification.
After the announcement of The HUMAN Protocol’s $10 million funds earmarked for grantsthis collaboration with VeritaTrust represents their first-ever grant since the beginning of this program.
VeritaTrust wants to reward reviewers with cryptocurrency for their reviews of products and services; and use blockchain technology to track reviews and related reputation of reviewers. The VeritaTrust project aims to increase on-chain activity for the HUMAN protocol; and provides a new utility to the protocol’s native token, HMT, used to reward examiners.
“It’s a very compatible partnership,” says Andreas Schemm, head of the funding program for HUMAN Protocol. “We are pleased to be working with the VeritaTrust team; to fund their work as they try to improve e-commerce solutions using our blockchain technology and reward mechanisms.”
Brahim Ben Helal, Founder of VeritaTrust and former Head of Strategic Development at Trust Pilot, said: “The HUMAN Protocol shares our vision of rewarding contributions. So far, they have successfully brought hCaptcha to the chain for people to earn for their “clicks”. Their method of evaluating and paying off micro-work in the chain is a great solution for our needs; By leveraging this technology, we can automatically pay reviewers on-chain thanks to the power of smart contracts.”
About the HUMAN protocol
HUMAN Protocol is a broadly applicable solution for managing distributed workforces. It started with bringing hCaptcha – the bot blocker – on-chain to reward individual collaborators for the important ML work they did by solving these CAPTCHAs. However, this has become a broader solution for tokenizing posts; and therefore the ability to orchestrate the management of this work, its evaluation and the rewarding of micropayments for many individuals.
In that sense, reviews are just another form of work or value proposition that can be rewarded via blockchains. HUMAN anticipated the applicability of such a project in her blog post about the potential of projectslike VeritaTrust, made possible by blockchain technology.
Verita Trust helps e-commerce companies improve the online shopping experience. With 9 out of 10 people reading reviews before buying online, product reviews have never been more valuable. By providing trusted reviews on the blockchain, they hope to help encourage cart abandonment and increase conversion rates and loyalty.
VeritaTrust collects customer reviews to help brands reward customers. They use blockchain, AI, and machine learning to create a plug-and-play SaaS solution for building a complete customer review strategy.
This is a press release. Readers should conduct their own due diligence before taking any action related to the advertised business or its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services mentioned in the press release.
photo credit: Shutterstock, Pixabay, WikiCommons