One of the biggest issue with projects developing on the Steem Blockchain is that over 99.9% of them had no proper business plan. They were heavily reliant on delegation from the community especially the whales, in return for a certain percentage of curation reward. In fact, because of this, many people find it more profitable to invest into Bid bots since it is as well a quick way to generate curation reward ($$$) which is very unhealthy for the Steem blockchain. Since the launch of Hive, I find the need to not allow the bad history to repeat itself whereby the population of bots on the blockchain is higher than the real users of the blockchain.
Have we not realized yet that having bit bots around and a project that is only reliant on getting delegation from the community to survive with no proper business plan to generate good and healthy business revenue aside being heavily dependant on curation rewards is really becoming a threat on the blockchain? It is affecting the value of the blockchain as well as the entire community in ways we cannot even imagine.
I think it would benefit the community more when investor on here starts to invest in businesses with real plans and not simply delegate to projects that are so much dependant on a delegation to survive. Whales/Investors needs to get in touch with project owners to find out more how their project can survive with or without delegation, and how it would benefit the blockchain they are developing on.
I've been on the Steem blockchain for quite some time now and I've witnessed so many projects which got a lot of support from the community yet they community's trust got betrayed because the founder of those project decided to shut down and get away with the miserable money they've made from scamming innocent people.
Since the Hive blockchain is FOR the community, I want to encourage everyone using the blockchain to play their own part to discouraging anything that might be harmful to this chain anyway possible. And I encourage the community as well to engage in doing something positive. I believe that this blockchain has a huge potential and we are yet to discover all of it.
I've been working on a proper business plan for the RealityHubs project of which I already published the executive summary about three (3) months ago to give a glimpse of what the entire project is about which includes project definition, Statement of the problem, the proof of concept, mission and vision, objectives, goals and key to success. Click here to view the full content.
On this proposal, I am looking to get the community support to help fund/develop a real business on the Hive Blockchain. A platform with a real business model and processes which will bring great value and crowd to the blockchain. This proposal is not only open for funding but as well for the community to share their sincere opinion and thoughts. With our collective effort, we really can make the HIVE blockchain the biggest and most popular blockchain in the universe. So, I'll count on all of your supports.
Before going through this proposal, you are advised to check out the Executive summary to have basic knowledge of what RealityHubs is all about. However, I find the necessity of citing the definition of the project below.
RealityHubs is a tokenized blockchain-based review platform that seeks to connect businesses directly with its product consumers for excellent and quality feedback and review in other to help them improve their business focus more accurately.
Just like any other business in existence today, there is a need for them to evaluate their market size once in a while in other to keep up with their customer's need. This sometimes requires a little or huge shift in business focus in other to keep the business up and running as well as meeting the minimum sales as intended.
This does not only apply to a business that is already up and running. In fact, any start-up company must evaluate its market size before they ever think of launching. Below is a very brief detail on the project Market and Market Segmentation.
Market
The need for feedback and reviews from customers or users to businesses is significant to build a healthy and robust business as well as to please and satisfy customers' needs in other to keep them loyal.
Customer's opinions and experiences are exactly what any business needs to adjust their company or product, to meet their customer's needs more accurately.
Each year, thousands of ambitious entrepreneurs start a new business. However, many of these businesses die off within a few years of running.
Market Segmentation
The main market segments or primary customer focus are 3. These include Business/Companies, Reviewers, and Review Searchers. These are the main and primary market focus for RealityHubs. Below is a simple description of each of our main focus.
i. Businesses/Companies: This includes all kind of businesses such as; service business, manufacturing business, hybrid business, and even individual business, not taking into consideration whether the business is a startup or not, that are looking to get valuable feedback from their customers which will, in turn, help them meet their customer’s need more accurately.
ii. Reviewers: Anyone that uses a product or service is directly or indirectly patronizing a business, and such a user could be regarded as a potential reviewer. With the incentive RealityHubs offer for valuable reviews from reviewers with the help of the blockchain we are developing on, we will attract many reviewers to our platform as well as from other competitive review sites.
iii. Review Searcher: There are currently many individuals who seek to learn about other people's opinion on a particular product or business before they patronize it. We'll attract many users like this to the platform to check out valuable reviews from the community of reviewers
With all these in mind, we are convinced that the market size of RealityHubs is large.
Business Model/Features
RealityHubs is a blockchain-based review platform where business owners register their businesses for valuable feedback and reviews from our community of reviewers who, in return, get rewarded through collective/decentralized votes from the community.
RealityHubs will offer three main types of services, which are advanced premium features or service, business advert placement as well as other great features. Below is detailed information about these features;
i. Premium features: These features must be subscribed to either monthly, quarterly, half-annually, or annually before it becomes accessible to a business owner. The premium features include;
Access to a customizable widget: With this feature, customers will be able to port their business page from RealityHubs, directly to their website showing all the necessary information such as the user’s reviews, total reward distributed, top reviewers with other valuable information. An API key will be required.
Advert removal: setting up a business page on RealityHubs is entirely free. However, a similar product or business will be advertised on the business page. To stop this from happening, business owners are expected to subscribe for the premium feature.
Customized review form: Some businesses may want their customers to answer a specific set of questions to help them improve their business or product. This feature will allow business owners to either upload or create directly on the web-page, a customized form for reviewers to fill.
ii. Advertisement placement: The paid advertisement feature is the other main product. Many businesses may seek attention and traction to help them get noticed. This is why we'll have the advert placement feature enabled, which will allow business owners to promote their business page to their selected niche for visibility. This service will be paid per reaction just as it is done on many other social media such as Facebook and YouTube.
iii. Non-premium feature: These features are accessible for free and do not require any cost. These are essential features that power's the platform.
Transparency: Due to the fact that the platform is using blockchain technology, all the activities and transactions on the platform are stored permanently on a transparent ledger which can at any time be accessible and verified by anyone on the blockchain network. Also, user’s data such as review posts and comments cannot be edited or altered by anyone once published to the blockchain except by the person who initially published the review with the right credentials.
Monetary reward: This is thanks to the nature of the blockchain technology we are developing on (HIVE), which allow users to reward each other through a method known as Proof of Work (PoW)
Badges: Badges are needed to award the users based on their activities, such as; the number of reviews published, comments, curations, done while on the platform. This will give the reviewers more visibility on the platform which will enable them to get noticed by a product owner easily
Advanced search: The search feature will be thorough with so many search parameters. This will allow the users to navigate through the platform in a more flexible way.
Notification: The notification features, just as the name implies, will notify any user about a new activity (e.g., comments, votes, tag, post, ads etc.) on their page.
THERE'S MORE
The plan did not end here, there's more that I'll publish to get the community's opinion. I look forward to learning what the community have to say about the project after looking into the little information that I've provided. On my next proposal update, I'll write about the project's description, the benefits of the service we'll provide, competitive landscape, some important analysis and strategies and so much more. So, stay tuned.
How to get in touch with me.
You can do that by commenting on this post and I will try to respond as soon as possible.
You can as well reach out to me on discord with the username; knowledges (Smiles' at all)#3295
You can also send me a mail or connect with me on google hangout with the address Ibrahimonozasi@gmail.com