Hook: Is Web3 the future of digital trust? Here’s how a new system is solving one of its biggest challenges—fake engagement and bots.
In the world of Web3, where anonymity reigns, one of the biggest problems is ensuring trust. Bots and fake engagements have made it tough for brands and creators to connect with real users. But what if there was a way to guarantee that the users you’re interacting with are real, reliable, and trustworthy? That’s exactly what Kenneth Michael from Rewardable is tackling with a brand-new system aimed at cleaning up Web3—an ID score system that can separate real users from the fakes.
Why It Matters: The Trust Problem in Web3
Web3 has revolutionized the way we think about the internet, but it’s still plagued by issues like fake engagement and bots. Imagine a platform where brands are tricked into thinking they’re getting real customer feedback, but it’s actually just automated bots. This undermines trust in the ecosystem and makes it hard for brands to know if their investment in Web3 is paying off.
Kenneth Michael, from a project called Rewardable, says that Web3 needs a solution to make sure it’s really connecting brands with real people who genuinely care. The solution? A robust ID score system and KYC (Know Your Customer) verification—tools that could change the way we build trust in the digital world.
The Big Idea: A Unique ID Score System for Trust
Rewardable, launched in November 2024, is a task-to-earn platform that connects real users with brands for genuine engagement. Instead of just liking or commenting on posts, Rewardable offers tasks like bug bounties, content creation, referrals, and even testing blockchain transactions. What sets it apart is its built-in ID score system that tracks users’ reliability and engagement across multiple factors.
- ID Score System: This system tracks a user’s performance by looking at their KYC verification, wallet activity, and social media engagement. If a user doesn’t follow through on a task correctly, their ID score drops. This means that only trustworthy users—those who consistently complete tasks and follow rules—get rewarded.
- KYC (Know Your Customer): Rewardable incorporates KYC to make sure users are who they say they are. Even though many in the Web3 space are wary of KYC because it seems too Web2, Michael argues that it’s the only way to build trust in a space where anonymity can breed fraud. Without KYC, you can’t be sure if a user is real, which can lead to problems like bots and fake accounts.
How It Works: From Task Completion to Rewards
The idea behind Rewardable is simple but powerful. Instead of simply rewarding people for basic actions like liking or commenting, users complete tasks that add real value. For example:
- Bug bounty contests: Where users find issues with software.
- Content creation: Users create content that helps brands engage with real customers.
- Referrals: Users refer new people to a brand or project.
- Testing contracts: Users interact with blockchain contracts to test their features.
Each task completion is verified, and only those who follow the rules get rewarded with $REWARD tokens. These tokens can be staked, traded, or held, adding extra value for active users.
Why It’s Important for Web3 and Beyond
This isn’t just about solving a problem for Web3 projects. The goal is to create a bridge between Web2 and Web3, where trust and transparency matter. Businesses, whether in Web2 or Web3, need to know that the people they’re engaging with are real, and Rewardable’s ID score system provides just that.
For you, as someone interested in Web3 and cryptocurrency, this is a big deal. Understanding how platforms can use ID scores and KYC to build trust is crucial, especially when it comes to investing in Web3 projects or interacting with blockchain ecosystems. As the space grows, systems like this will become the standard for verifying who’s behind the screen.
Key Takeaways to Remember:
- Trust in Web3 is built through ID scores and KYC verification.
- Rewardable’s ID score system helps separate real users from bots by tracking performance, wallet activity, and social media engagement.
- $REWARD tokens are used to reward users for completing valuable tasks, like bug testing or content creation.
- Transparency and trust are key for bridging the gap between Web2 and Web3, helping businesses and users find each other in an honest way.
By understanding these principles, you’re not just gaining knowledge about Web3; you’re learning about how the digital economy will operate in the future. Trust is the foundation, and systems like Rewardable’s ID score are what will make that trust possible. So, as the Web3 world continues to evolve, you’ll have the tools to navigate it with confidence, knowing how to spot the real players and avoid the fakes.
