RATEONIUM CRYPTOCURRENCY

Website : https://rateonium.com/

Cryptocurrencies are highly encrypted currencies independent from banks, but despite the positive idea behind them, they’ve started to fall into disrepute in recent years.

Blockchain, the system on which the different cryptocurrencies are based, offers unique advantages in terms of IT security and transparency. Blockchainbased applications give people back a sense of inviolability and full control over their digital identity in the World Wide Web For instance, innovative currencies give everybody in the world the opportunity to open their own account, independent of origin, gender, or religion. Furthermore, these revolutionary currencies offer enormous security during transactions via the multi-factor authentication process used by blockchain technology. Economically, blockchain and the cryptocurrencies based on it have experienced a spectacular upturn in recent years, to say nothing their future prospects and practicality.

Cryptocurrencies are becoming a popular toy for many speculators, some of which have generated horrendous profits. This rapid growth and the associated disconnect between slowly increasing intrinsic value and enormous explosions in price have created various problems for cryptocurrency. The different pros and cons of this market worth billions are explained in more detail below.

Reviews with an absolute demand for authenticity

This basic requirement is fulfilled by the RTO two-way verification of every review. On the basis of significant reviews, mutual trust is therefore ensured between the company and the customers.

A user-friendly app for a network that can be used worldwide

The easy-to-use design of the app and underlying algorithm enable users to create reviews with significant content more easily than ever before. This is explained further down in the fifth chapter.

Global partner companies and multiple language options enable worldwide use and promote the diversity of the Rateonium community.

Encryption and anonymity in the system

In terms of the protection of personal data, these are the most important components. Measures taken in access control, entry control, and controlled data exchange help to establish a state-of-the-art security standard.

High daily rating motion

Due to this being the first directly incentive-based rating system, “daily rating motion” (explained later) is greatly increased.

Everyday use: The wide range of already-verified cooperation partners and the scaled inclusion of additional companies in the system guarantees that Rateonium can offer a large number of different rewards within an extremely short space of time. Each user will find individually tailored awards in the Rateonium system all over the world. In addition, the user can see other customer reviews at the respective location or in accordance with search criteria.

Currency exchange on trading platforms

It goes against the Rateonium ideology to see blockchain-based applications become objects of speculation. However, because the incentive to participate is so prevalent, it also provides an opportunity to trade. This is one of Rateonium’s unique characteristics. Due to the exchange process that turns generated Rateonium tokens into tradable Ratec tokens, users can go to financial trade centres and exchange tokens generated by reviews for other currency.

Website : https://rateonium.com/

The System in Detail

The customer, Chris, is on a business trip. In the evening, he plans to go to an upscale restaurant with his colleagues. He opens the Rateonium app on his iPhone to find out which restaurants will meet his expectations. The app offers Chris the best restaurants within his desired radius, according to customer reviews. He decides to go to a restaurant that is 500 metres away to dine with his colleagues.

He and his friends are very happy with the dishes they are served. After Chris payed the service and verified this with his Rateonium card, he has the opportunity to document his experience at the restaurant in the form of a review, which is anonymised and made available to the worldwide Rateonium network.

The number of Rateonium tokens is based on the purchase price of the respective product or service. So for purchasing a product worth €5, Chris receives 50 Rateonium tokens.

In order to establish a sense of proportion between expensive and less expensive products, and to protect smaller companies from being discredited, there is an upper limit of 1000 RTO. Furthermore, rewards can only be redeemed once at the same business within a set time frame.

The frequency of ratings that can be submitted for the same company is also limited. This enables Rateonium to guarantee that no users are able to redeem a disproportionately large amount of rewards at one company and thus harm the business.

In order to protect the identity of the user, the review is only uploaded some time after it is submitted, according to a random algorithm. As a result, the company cannot see which users have submitted which reviews, though tokens are distributed immediately after the rating is verified. As this can take between one and twelve hours, the underlying Blockchain transaction has no time limit. After the rating goes through, the RTO tokens are automatically generated by the Rateonium system and then automatically sent to be paid out.