ICO Analysis: Review Network

You are the head of a company and want to learn what people think of your products. Normally you would hire a market research firm which charges you high fees for their services. They would ask people to fill out surveys express their opinions about your company or some of your products. This takes a long time, costs you a good amount and is not always fully representative of public opinion.

This is where Review Network comes in. They cut the middleman, decreasing fees and allows companies to reach their customers directly, removing the possibility of data manipulation. Also the data is obtained in real-time, meaning that the whole process of getting reviews and feedback is much faster now. Everyone is incentivized to act honestly by a staking and rewarding mechanism. There are three main actors in the system and their roles are as follows:

  • Reviewers: Reviewers are actors that provide feedback, fill out surveys, etc. They are asked to stake some REW tokens prior to doing work and if their work is not genuine and, they lose those staked tokens. If a reviewer is honest and provides genuine feedback, he or she is rewarded.
  • Validators: Validators are actors that basically check data provided by reviewers. They shall conduct a validity check according to some pre-determined guidelines. The same staking mechanism applies to validators as well. In some sense validators’ role in the system is quite similar to proof of work miners. Honest and genuine validations will be rewarded as well.
  • Companies: Companies are actors that demand market research and then pay REW tokens for them. They will be asked to stake tokens since they might be reluctant to pay rewards to reviewers once the research is conducted. Validated data shall be available to companies in real-time.

But it is a mistake to think that Review Network is a mere human-based automated review system based on blockchain technology. The project’s appealing to machine learning and data analytics provides great utility as well. For instance, an algorithm to determine fake reviews shall be implemented, thus fake reviews will be removed instantly once they are determined to be fake.

The use of blockchain is a great fit for this project’s purposes also. Transparency and immutability of reviews is a necessity for honest and genuine reviews and the automated reward payment system removes any concern that reviewers and validators might have regarding their rewards. Furthermore, responses with higher quality completed in a shorter time shall yield more rewards.


REW tokens will be used for interactions between reviewers, validators and companies within the system as explained before.

The initial total supply of REW is 5 billion tokens with the following token distribution:

  1. 54% public sale
  2. 24% reward pool
  3. 15% team and advisory
  4. 5% reserves and exchanges
  5. 2% bounty campaign

The token sale will be conducted in six stages. Although it is not disclosed what bonuses stage one investors got, a bonus of 50% for stage 2 investors is made public, which is quite concerning for later stage investors. These bonus tokens will be locked for two to three months, creating an immediate selling pressure. Stage 3 and later stage investors’ tokens do not have any lock-up period.

Team and advisor tokens are locked for 3 and 2 months, vested over 12 months respectively.

The team is planning to use the token sale proceeds as follows.

  1. 40% research and development
  2. 27% marketing
  3. 10% operations
  4. 6% business development
  5. 5% security
  6. 5% legal and financial
  7. 4% administration
  8. 3% public relations


CFO & Partner Reinhard Fellman: Fellman was an analyst at Commerzbank AG and an associate at Morgan Stanley before he started to work towards a PhD degree at London School of Economics.

Data Analyst Olivera Sazos: Sazos is the current manager of data analytics at nbnTM Australia, a telecommunications company. Previously she has worked as a data analyst at Optus, another telecommunications company, and BT Financial Group.


Ivan Bjelajac: Bjelajac was an advisor at Lemon.mail, the world’s first encrypted and decentralized e-mail service.

Robert Golladay: Golladay has worked as the head of IBM Europe’s digital business automation business. He is the managing director at CognitiveScale, a blockchain and artificial intelligence company.


Payxpert: A payment provider company based in Cambridge, Great Britain.

Bancor: An exchange project, allowing direct trading between supported coins.


Below is a breakdown of the risks and growth potential of Review Network.


  • High bonuses for early-stage investors are definitely concerning. (-2)
  • No announcement with any company to adopt Review Network so far. (-1)

Growth Potential

  • Partnership with Payxpert and Bancor should provide high liquidity both in early and later stages. (+3)
  • They have an MVP and the pre-registration for their Beta is open. (+2)
  • Their use of blockchain for an industry in which transparency and honesty are of utmost importance. (+3)
  • Good team. (+1)


Review Network aims to solve problems in the market research industry by introducing a solution based on blockchain technology, machine learning and artificial intelligence. They seem to have made great progress so far and the project definitely has the potential to be adopted by big companies. Token metrics could be much better as they do not seem to be fair for small investors. Review Network receives a 6/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: REW
  • Platform: Ethereum
  • Crowdsale: Late September / October
  • Minimum Investment: Unspecified
  • Price: €0.01
  • Hard Cap: €22,500,000
  • Payments Accepted: BTC, ETH, LTC, BCH
  • Restricted from Participating: United States, China, Iran, North Kora, Bosnia and Herzegovina, Ethiopia, Iraq, Syria, Trinidad and Tobago, Tunisia, Vanuatu and Yemen.

For More Information

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