The Rateonium network was designed and developed over the last four years by experts from various economic sectors. As a result, decades of experience from the pharmaceutical, automotive, and commodities industries, among others, have been incorporated into the development process of the system. Rateonium offers a complete rating system tailored to all customer groups, thus connecting customers to companies in a way never seen before. For this purpose, various requirements were explored during development and used to determine the content of the system. The accurate implementation of these requirements means that both companies and future users are offered a perfected rating system that will be able to meet any subsequent needs. Rateonium offers a complete rating system tailored to all costumer groups, thus connecting customers to companies in a way never seen before. For this purpose, various requirements were explored during development and used to determine the content of the System.
The basic Principle
Rateonium, by contrast, is a directly blockchain-based system consisting of a rewards-for-ratings concept. The basic idea behind the Rateonium system is to create an internal cryptocurrency that registered users receive by submitting a review about a company. This currency is exchanged for rewards from participating companies. Thus, the user can redeem rewards just by doing everyday things at no additional cost or effort. The intrinsic motivation to submit reviews, the “daily rating motion”, is continually upheld by the incentive of quickly accessible rewards. These rewards vary from company to company and can be customised. The quantity of the Rateonium tokens exchanged is based on the size of the reward. Rateonium verifies the quality of the reviews before the tokens are activated in the app. Rateonium blockchaintechnology-based platform changes the way consumer tell each other about their experiences, creating a metadata-powered system with an actual basis on real, anonymised customer opinions.
THE APP
The Rateonium App contains all functions such as the rating of companies or the Around Me function. In order not to counteract the growth planned by Rateonium, the application is available as a free download for every future user.
The basic monthly fee is based on the number of branches integrated into the system and the revenue generated per branch. With the wide range of cooperation partners that have already been confirmed in addition to other interested parties, Rateonium can use the exact subscription fees to develop long-term system plans for the companies and generate an internal profit. For online shops, the subscription fee is based on an appraisal of the company’s economic strength, which varies according to the number and size of the regions served.
Rateonium offers its users a modern purchase experience with an app powered by metadata – free from manipulation and data misuse. The Rateonium cooperation network is supported by implementing modern, long-term quality and customer relationship management processes in the platform. The Rateonium rating system provides the user with various tools for creating qualitative rating.
By earning a usable currency, the customer is able to directly identify with a specific company and gets rewarded for providing product and service transparency. The customer’s increased power in the future purchasing decisions of others fosters an interoperating community of customers. In the app only products of suitable quality from the customer’s point of view are recommended to other customers. Thus, the future customer base of a company is based to a great extent on customer identification with the company and its performance. In the Rateonium system for companies it is facilitated to build up trust between them and the customer due to enabling a high level of quality and service transparency.
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Author : Drautos