Zapit ICO Review: Authorizing Amazon Reviews

What is Zapit?

Zapit is an application that can be used to review products that are infused with blockchain technology. Currently, its used to review Amazon products. However, it plans to integrate more online shopping marketplaces as discussed in its white paper.

zapit icoIt works by having Amazon products being reviewed by Zapit’s website or through downloading Zapit’s plugin on various apps. When using the plugin, users can create their own review of the products they have already purchased.

For participating in their network, users are rewarded with Zapit token for each review they post. This gives them an incentive to create high quality and valid information on each product they’re reviewing. Thus, Zapit creates a decentralized network that helps Amazon products get better reviews which helps the overall online shopping economy.

Aspects

  • Consumers: Send out reviews that are reviewed by multiple moderators before being accepted.
  • Sellers: Obtain real reviews from trusted customers and have an Amazon affiliate link where they can receive additional profits for.
  • Moderators: Moderators act like miners and receive increased payouts when they increase their credibility.

What Issue Does it Solve?

On Amazon, it can be difficult for users to trust the reviews that are placed on products. On some occasions over 50% of the products are viewed as fake. Because of this, it leads to user confusion and the accidental buying of products that aren’t really helpful for the consumer.

Alternatively, competitors can make fake negative reviews using different accounts. This leads to users being unable to trust Amazon reviews when shopping.

Zapit addresses these issues for Amazon shoppers. It’s easier to view qualified reviews through Zapit’s app.

Also, Amazon sellers can place affiliate links on their products on Zapit’s platform. Zapit rewards the sellers by paying about 4%-8% for their links! This gives sellers the advantage of getting two forms of profit. One from Amazon and the other from Zapit’s percentages.

And, Zapit has a strong moderation process. This is where blockchain’s technology and security shines at. The moderators of the reviews act as miners and can accept or deny reviews based on their quality and authenticity.

Each of the reviews needs multiple approvals before its placed on Zapit’s network. This moderation process is integrated with the flagging features that Yelp and Amazon use to scout out fake reviews.

Token Sale Information

Disclaimer: All of our information is for educational purposes only. Don’t invest unless you have an advisor and only do so at your own risk.

BitcoinTalk Username: TheTechInsider

BitcoinTalk Profile link: https://bitcointalk.org/index.php?action=profile;u=1760890

Positives
  • Marketer Incentives: Marketers receive 4-8% due to Zapit’s reward system.
  • Review Moderation: Each review is highly moderated and can be flagged if they are suspected of fake and wrong activity.
  • Consumer Benefits: Consumers can receive ZAPIT tokens for their time and participating on its network. The better their reviews, the more ZAPIT token they can own.

Negatives
  • Competition: There is another ICO named Shping that has similar features. How will Zapit face against its competitors and gain more market share?

Zapit
2.7

Summary

If you want a new way to review your online products, Zapit might be the answer. It rewards everyone that participates in its platform and helps improve the quality of Amazon reviews. In the future, we can see this ICO doing a lot of good for the online shopping marketplace.

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Adam Cole has been a crypto enthusiast for years. First getting involved in Bitcoin mining in late 2010, he has now diversified his portfolio and dug deeper into the alternative coins of the space. As new and exciting ideas arise in cryptocurrency, Jeremy is always looking for the next big thing and a coin which not only appreciates in value but also has a steady increase in use and demand. Jeremy has seen the rise of coins such as Ethereum and by studying the technical and fundamental side of ETH, he has learnt how to find similar coins that are likely to have a bright future.

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