Review of Revain’s ICO
By Nikita Kosmin
What do you think about Bitcoin passing the $10 000 mark on November the 28th, and then crossing the $11 000 less than 24 hours later? Charles Hayter, the CEO of CryptoCompare, calls this leap a new cycle in Bitcoin growth. Growth typically happens in spurts, as you know, and the crossing of this threshold means “the interest of institutional investors who have so far been constrained from trading by their remits.” What is implied by that? This is the indicative of the next level, in less vague terms, and the beginning of more exponential growth. If you are just excited as we are about stock prices that can climb more than 10% overnight, meaning a 10% ROI, and you’re thinking about opportunities this can present for everyone who appreciates the potential of cryptocurrency at this point in time, you’re reading the right article.
The Latest Trends
Times have never been more exciting for someone who is aware of the current tendencies in the market: the J-curve of Bitcoin growth promises nothing but good times for investors around the globe, but at the same time it’s as important as ever to have a good market analyst (or a good assessor) at hand. Since Bitcoin is not per se supported by tangible assets, its net worth is determined by the demand, which means it’s very volatile, and very high-risk.
We strongly recommend you not only regularly conduct in-depth analysis of the companies that deal with cryptocurrency right now, but also inspect the market every chance you get, because, as our experience shows, changes in this niche of the market are swift, drastic, and more often than not irreversible.
Just in case you haven’t been in the loop, we’ll quickly fill you in on the latest and greatest tendencies: Bitcoin was worth $5.882 November the 12th, came up to just over $8000 on November the 21st, started falling again on November the 23rd (to cries of dismay from investors who soon realize it’s too soon to panic), and then disruptively picked up the speed and kept on climbing like Tom Cruise in Mission Impossible: Ghost Protocol — slowly but inexorably, with nothing but gasps of shock and awe from the audience in terms of support. It stands proudly today (nearly) as tall as it’s ever been at $11,618 exactly at the time of writing. Quite a journey considering how much Bitcoin was worth when it all got started.
Revain is one of those companies that quickly captured the moment and took the advantage to start dealing with the Bitcoin at the point when its growth reached 10G and produced a rather bold whitepaper we took a brief look at in the previous article.
In short, the company uses blockchain extensively to expand into the foreign market, which it what is has been doing so far, and, with plans to get into e-gaming and i-commerce, it is currently focusing on evaluation companies that have passed their ICO stages and attracted investors. It is a very elegant model, we should say, which is based on users submitting reviews and getting tokens. Revain describes itself as “a new generation feedback platform, based on blockchain technology that doesn’t allow changing or deleting reviews and its authors get a reward for creating it”. For those of you who have just tuned in, Revain is the only user review platform built on blockchain that allows to store user feedback in the system eternally, removing a possibility to change or delete those reviews. In essence, it’s the world’s first real reviews democracy. There are also a few nifty technological innovations aimed at preventing creation of robotized reviews (which was what attracted our attention in the first place) that have something to do with a highly intelligent AI. We think it’s all very exciting: new technologies, colossal sums of money, cryptotech-based economies they’re planning in UAE, momentary business transactions around the globe, financial independence from any form of third party control, electronic sheep, bladerunners, and a mesmerizingly fantastic world we could only dream of when reading the Neuromancer.
According to the latest research, a lion’s share of customer reviews online turns out to be fake. The companies that conduct their business fairly are quite rare, and most of this comes down to not only the fact that there are always a few bad apples, but also to the fact that the existing technology allows smart users to manipulate it. However, with appearance of blockchain everything changes. Now it is possible to encode data in blockchain, effectively eliminating a possibility reviews being tampered with.
As you will see from the company’s presentation, in the first half of 2017 more than $1 300 000 000 was generated through ICOs. With more than 300 another ICOs coming up (and those numbers are expected to grow), the market is in need of an independent assessor now more than ever. This is what it’s going to be about in 2018: immutability and incorruptibility of data, hi-tech IBM AI systems, stable RVN/R tokens, DAO and smart-contracts, and absolute transparency of quality feedback.
The crowdsale, which was completed on the 21st of August, seemed like quite an attractive concept. The idea was that the company would publish a compilation of user opinions about other companies, which in today’s ICO-obsessed market seems like a genuinely useful idea. The fact that the administration of the company seemed to be able to identify an area of the market which was going to attract a lot of attention from the public in the years to come allowed Revain to become very popular very quickly, and get the word successfully out there about the crowdsale.
Besides using new technologies that allowed to filter reviews submission to prevent mass fake review creation, Revain also bet on creating a system that allowed to keep data incorrigible by storing it in blockchain eternally. The idea of prospects for storage of information, which cannot be changed or erased, seems rather delicious to everyone, especially in an age when so many dubious businesses rise and fall. When it comes to large-scale finances, security and integrity become so important that often it becomes more important who you collaborate with than how much you earn. The other powerful asset here is the creation of a stable token through using two coins, R and RVN, which we wrote about in our previous article. Revain’s main function will be reviewing cryptocurrency exchanges and ICOs for now.
We pointed out this company has a lot of potential for success, but no-one could predict exactly how much success Revain stoically endured during the crowdsale. Haven’t we always said intelligence and operational prudence were the foundations of success? The crowdsale at the beginning received so many requests that the company’s server became overloaded, which the team handed courageously, bringing it back to norm. It looks positively like the company is firmly set on conquering the world, and that it is backed up by many serious investors that share its vision.
It is understood that the ultimate benchmark of a product or a company are user reviews, so it logically follows that a company that was based on providing smart contracts that were set in stone would be very popular in today’s economy, which is starting to consider relying heavily on blockchain.
The crowdsale ended on September the 6th resulting in accumulation of 2108 BTC total. Revain’s CEO Rinat Arslanov further commented on the project’s future prospects: “We believe that there is a huge potential in online reviews. However, according to our research, there haven’t been any previous attempts of creating similar services on blockchain. Revain has developed a totally different format of communication between a user and a company. The company is to reward users for reasoned feedback given that the reviews are authentic and can’t be deleted or changed at a later stage.”
As we have predicted, this company has everything it takes to ensure successful spread into the global market, and the experience so far showed us that their kinetic energy far outdoes the predicted potential (the first real-life example being the server overload because of the huge demand). We are thrilled that there are companies out there that have the vision, the integrity, and, what’s most important, the guts to follow through on their promises and deliver.
Revain that is currently the part of C-CEX, is affiliated with the following exchanges: BTC-Alpha, Cryptopia, EtherDelta, Yobit, BitFlip, and Mercatox. The control package of the funds (55%) is to go into marketing which we are very happy to be describing in the next instalment of this Odyssey of collective efforts at quantum leaps in sentient evolution.
Beta-version is now live, which now features an opportunity to leave reviews (with certain limitations). Revain also shows substantial net worth increases in the last few days. Doesn’t it make you feel these are exciting times to be alive?