Bob's Repair (BOB) ICO review
Anyone that has hired a contractor in recent years for home repairs has faced three problems: false information due to review fraud, hidden costs due to advertising fees, and inflated prices due to lack of pricing transparency. Bob’s Repair is here to change that. The Prandecki brothers, together with blockchain experts and experienced software engineers, founded Bob's Repair with the mission of launching a decentralized platform that will bring trust and fair pricing back to the consumer. In order to fight review fraud, advertising fees and provide the consumer with transparency, the Bob's Repair Application will be built on the STEEM blockchain, which has a three second block time and no transaction costs.
To solve review fraud, hidden costs due to advertising fees, and inflated costs to lack of pricing transparency, Bob’s Repair will build the Bob Application on the STEEM blockchain. The Bob Application will consist of a sophisticated iOS, Android, and web application.
The Bob Application leverages blockchain technology to fight review fraud. The Bob Application will be built on the STEEM blockchain due to its three second transaction time and no transaction costs. The Bob Application will store all financial transactions that take place on Bob’s Repair on the blockchain. Then, when both sides of a transaction - consumer and contractor - leave a review, Bob’s Repair will link that review to the actual financial transaction. By linking reviews with actual financial transactions, consumers can trust that the review is real and unaltered. Real reviews, from real consumers, provides better information so consumers can make better decisions.
The Bob Application will not have advertising from contractors. As a result, contractors will not pass on advertising costs to consumers. Contractors cannot buy visibility on Bob’s Repair through advertising. Rather, due to the functions of upvoting, flagging posts, and user reputation on the STEEM blockchain, visibility is governed by merit. For instance, if a contractor has more verified positive reviews, then that contractor will have a more significant presence. This structure will eliminate hidden advertising costs.
The Bob Application will have transparent pricing. Each review will provide the cost of the service, broken into the material and labor costs. Consumers will be able to easily search reviews to determine the actual material and labor costs for a certain service. This transparency will drive down prices and fight inflated costs.