WeRate’s Post

Although 97% of all internet consumers use online reviews for local businesses, with 91% between the age of 18 to 34 trusting them as much as personal recommendations, the overall majority is often suspicious of fake reviews... Rightfully so... In 2020 alone Google had to remove 55 million fake reviews from their website. Also Yelp, Tripadvisor and Facebook continuously report worrying statistics.... These alarming findings are caused by both businesses and consumers. Businesses try to increase their revenue by leaving positive reviews for themselves and/or negative ones for their competitors, pretending to be real customers. This is known as astroturfing. They also often pay people for fake reviews. Consumers are responsible for review bombing, a coordinated attack in which someone who had a bad experience asks their friends or social community to negatively review a venue; disregarding the fact that they may have never visited that venue, let alone had a bad experience there. Sometimes review platforms are also used to express political or religious claims that have nothing to do with the specific venue. The economic impact of fake reviews on global online spending is immense, estimated at around $152 billion by the World Economic Forum! And these numbers don't seem to slow down... Agencies around the world are offering services to bump up the number of reviews or provide fixed packages for buying reviews. Even trading of fake online reviews between businesses has become increasingly common with online groups. In a blog post, Amazon requested social media companies to keep fake reviews under control by keeping a lookout for groups that are used to perpetuate fake reviews. Unfortunately, review censorship is not a suitable solution... A study by Trustpilot indicates that 62% of consumers will not support businesses if they are known for censorship of their reviews. This is one of the major reasons we are building WeRate, the first mobile application that uses blockchain technology and built-in mechanisms to ensure authentic reviews by real people on real businesses!