HUMAN Protocol Foundation Grant Awarded to VeritaTrust to Develop On-Chain Rewards for Reviews

HUMAN Protocol Foundation Grant Awarded to VeritaTrust to Develop On-Chain Rewards for Reviews

HUMAN Protocol Gives Grant to VeritaTrust

In an announcement made today, HUMAN Protocol stated it had awarded a grant to VeritaTrust to develop on-chain rewards for reviews.

The grant disbursement follows a major recent milestone for HUMAN Protocol where it announced that it was dedicating $10 million in funds to grants. The grant offered to VeritaTrust is HUMAN Protocol’s very first grant that has been offered to a project since the inception of the grants program.

For the uninitiated, VeritaTrust are seeking to reward reviewers with digital currencies for their reviews on products and services. Accordingly, the project will leverage blockchain technology to track the reviews and the corresponding reputation of reviewers.

Notably, the VeritaTrust project is expected to ramp up the on-chain activity for HUMAN Protocol and offer new utility to the Protocol’s native token, HMT. This token will also be used to reward reviewers.

Commenting on the development, Andreas Schemm, who heads up the grants program for HUMAN Protocol, said:

“It is a highly compatible partnership. We are delighted to be working with the VeritaTrust team; to fund their work as they seek to build using our blockchain technology and reward mechanisms to improve e-commerce solutions.”

Similar sentiments were echoed by Brahim Ben Helal, founder of VeritaTrust and former Director of Strategic Development at Trustpilot. He said:

“HUMAN Protocol share our vision of rewarding contribution. So far, they have successfully brought hCaptcha on-chain to allow people to earn for their ‘clicks’. Their method of evaluating and paying out micro-work on-chain is a great solution for our needs; by leveraging this technology, we can pay out reviewers automatically on-chain thanks to the power of smart contracts.”

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