Product reviews are hugely influential in purchase decisions.
In 2015, the UK's Competition and Markets Authority (CMA) estimated that reviews influence around £23 billion worth of purchases in the UK alone. Given that online shopping has only increased since then, the number will be much higher today.
However, fake reviews have become an increasingly troublesome problem for e-commerce. Nuggets solves this issue by validating reviews through our verified ID tied to payment.
Reviews backed by validated IDs
Fake reviews aren't just bad for consumers, they're a nightmare for businesses too. While some less scrupulous businesses or product vendors may feel a fake review or two could help their business, it may actually have the opposite effect.
If a business or vendor is caught out, consumers are much less likely to trust them in future. And if a rival business commissions fake reviews of a competitor, this could be the end of that company's reputation. By 2020, Amazon alone has spent $400 million to date fighting fake reviews.
Nuggets prevents fake reviews using our verified digital identification, underpinned by the immutability and security of blockchain. By combining a biometrically authenticated ID with a payment source, Nuggets creates an indisputable authentication for reviews.
Because the payment source used to buy the reviewed product is linked to the user’s biometrically verified ID, everyone can rest assured that the review is authentic. Nuggets ensures that the buyer is the reviewer, eliminating the possibility of bogus reviews.