Market Research Smart Contract

Introduction

Decentralization has the potential to revolutionize market research by making it more accurate, transparent, and accessible. By removing intermediaries and distributing power among a network of users, decentralized systems can provide a more representative and diverse sample of opinions, resulting in more accurate data. One of the key benefits of decentralization in market research is the ability to reach a wider and more diverse group of participants. Traditional market research relies on a centralized system where a small group of intermediaries control the data collection and analysis process. However, in a decentralized system, anyone can participate and contribute data, resulting in a more representative sample of the population. This is especially important for marginalized groups who are often underrepresented in traditional market research.

Problem & Solution

Security

To ensure the security of a decentralized market research application, it is essential to use secure smart contract development practices and to conduct regular security audits. Additionally, implementing encryption and secure data storage methods can help protect user data.

User Experience

To improve the user experience, the decentralized market research application should be designed with a simple and intuitive user interface, and provide clear instructions for users. Additionally, providing a mobile application for the platform, can also increase its accessibility.

Data Governance

To ensure the quality and reliability of data in a decentralized market research application, it is essential to establish clear rules and guidelines for data governance. This can include measures such as data validation, data quality control, and data privacy protection.

Incentivization

To incentivize users to participate in market research, the decentralized market research application can use tokens or other digital assets as rewards. Additionally, implementing a reputation system that rewards users for providing high-quality data can also be effective.

Anonymity

To protect the anonymity of participants, the decentralized market research application can use zero-knowledge proofs or other privacy-preserving technologies to ensure that user data is kept private. Additionally, using a decentralized identity solution can help separate the identity of the participant from the data they provide, preserving anonymity.

Structure

Creation -> Answers -> Review -> Result Researcher creates questionnaire and set budget and participants: 30% of the earnings go to creator 70% to reviewers

Prerequisites

Identity confirmation for answerer, and reviewer

Steps:

Creation of questionnaire

Researcher creates questionnaire and sets budget and participants Budget:

• 30% -> Creator
• 70% -> Reviewer

Answers are distributed

User can request questionnaire and then have 10 minutes time to answer the questionnaire After all the questions are answered go to review process:

Review process defines payout of creator:

Options:

1. Spam
2. Not accurate answer
3. Neutral
4. Good answer
5. Exceptional answer

Consensus

1. Round 1: 10 Reviewers -> 8 have to pick either (1,2 or 3,4) -> Median wins if not consent round 2:
2. Round 2: +10 Reviewers -> 15 have to pick either (1,2 or 3,4) -> Median wins if not consent round 3:
3. Round 3: +10 Reviewers -> 20 have to pick either (1,2 or 3,4)-> Median wins if not consent answer discarded

End

1. Earnings due to malicious acting will be added on top of price pool
2. Researcher will receive answer
3. Payout for creator:

• Poor (-500%)
• Fair (-100%)
• Average (0%)
• Good answer (100%)
• Exceptional answer (200%)

Payout for reviewers:

• Hit (100%)
• 1 next to hit (10%)
• 2 next to hit (-50%)
• 3 next to hit (-100%)

Features MVP:

1. Create Survey with 5 questions
2. Every users can participate
3. If a question get a rating of at least average it gets accepted
4. Distribution of results and money

Future steps:

Make sure questions are not submitted twice Verify that the address is an authentic person Add more flexibility to the surveys Make the UX more userfriendly ..