QashBack

What is QashBack

QashBack connects consumers, merchants, and advertisers through an incentivised online reputation management platform for transparent interactions and ease of mind on data privacy issues.

QB is able to overcome the current flaws by leveraging on the characteristics of the Ethereum blockchain and the QBK. Together, they allow QB to provide a trustless ecosystem in which users on the QB Platform book their purchases from merchants and submit their reviews, and merchants interact directly with the users by way of customised promotions and loyalty programs.

QBKs are used for all transactions on the QB platform. Consumers use QBKs to pay for goods and services provided by any merchant on the QB Platform, while merchants use QBK for rewards and discounts. QB provides merchants with improved cross-selling opportunities and direct engagement with the consumers.

QB Platform provides an ecosystem which offers the following features to customers, merchants and reviewers:

QB leverages on the characteristics of the blockchain and smart contract in order to deliver these features and fix the flaws of the current online review systems. The blockchain makes all transactions on QB Platform transparent (meaning any changes are publicly viewable by all parties) and immutable (meaning they cannot be altered or deleted). The use of the smart contract gives certainty to the execution of any agreement, subject to conditions agreed in advance and embedded into the smart contract. For example, because the smart contract is used, the reviewer is assured that the merchant will reward him for posting a review as agreed, regardless of the star rating or quality of the review. The same argument goes for the agreement to reward users for viewing advertisements.

A point to note in QB's proposal to reward users for submitting reviews is that such rewards are not conditional on the outcome of the review: reviewers get rewarded regardless of whether they submit positive or negative reviews. The rewards should therefore not create a bias towards positive reviews. It has also been shown that the rewards need not be large in order to reduce the polarisation bias significantly: the use of small incentives (as low as USD 0.15) incentivises significant numbers of those with moderate opinions to post their reviews. The reduction in polarisation bias is statistically significant, according to a study done by Glassdoor.