What you need to know about the YINC platform in order to start using it?
Imagine booking.com, but for every kind of service, not just hotels. Even better, imagine if the hotels made competitive bids for your business and you knew with 100% certainty that the user reviews hadn’t been manipulated in any way. Well, that’s just the tip of the iceberg of benefits that YINC has to offer for both vendors and consumers.
If you’re just being introduced to the YINC concept, think of it as a transparent marketplace connecting customers with the services they need while establishing a system of incentives that brings balance between the two sides in these business transactions. Here’s what you need to know about the YINC platform:
How it works:
You’re visiting YINC because you need to hire someone for an important service (obviously). Maybe you need to do some remodeling in your home or perhaps you urgently need a mechanic to diagnose that disturbing clicking noise you’re hearing while on the road. It doesn’t really matter what we use in this example because YINC aims to be a platform for just about every kind of service you can ever imagine needing.
So, you create a job lead on YINC with the details of what you need done. YINC’s matching algorithm selects a number of vendors to bid for your business based on their location, response rate, previous reviews and a variety of others. A number of the invited vendors respond with quotes. You can hire whichever vendor has offered you the best deal or made it clear that they will provide exactly what you need. All transactions and payments are made directly through the YINC system and once the job is completed, you’re encouraged to leave a review of your experience.
It is powered by the YINC token
That’s how YINC works on the most basic, most practical level. Going a little deeper, we have to talk about blockchain technology and the YINC token. The token powers everything on the back end to verify that transactions were completed and make the reviews unalterable. It can be both earned and spent within the YINC ecosystem. Specifically, you can earn YINC tokens by leaving reviews on completed transactions.
Those tokens can and should be spent to cover at least part of the cost of your next transaction over the YINC platform. Doing so could save you up to 100% of YINC’s fee on each transaction.
Reviews are unalterable and can’t be faked
Besides the use of the YINC token, blockchain makes the YINC platform more transparent and more reliable than anything that’s come before it. The evidence for this is best seen in YINC’s review system. Blockchain’s decentralized nature allows reviews to be stored — along with the entire history of the transaction — in an unalterable form.
That’s right, there’s no deleting or changing reviews on YINC once they’ve gone up. But since transactions must be completed in order to leave a review and no business can hire itself and complete a fake transaction on YINC, there’s also no way for businesses to post fake reviews on YINC in their favor. These manipulations have become commonplace on most platforms with a review feature, but YINC’s system and utilization of blockchain puts a stop to it.
While you the customer can finally benefit from a smooth transaction experience meant to fit your needs, vendors also get to enjoy the benefits of a level playing field. No more stressing over negative reviews posted by the competition. With YINC, all that matters is honesty and good service, creating a true vendor meritocracy.
