Hackernoon logo3 Companies Show You What Matchmaking on Blockchain Could Look Like by@ericwins

3 Companies Show You What Matchmaking on Blockchain Could Look Like

Author profile picture

@ericwinsEric Winstead

A sales Person who games throughout the weekend Because Why Not

Dating is fun. It gets you to know your potential counterpart. But dating is hard in the real world, especially when you don’t know how to approach someone or if someone you clicked with is real.

The real-world trouble of dating gave birth to the online dating industry and soon, there were websites and mobile apps. People looking to hang out or hookup would put their profiles out there and if someone liked them, they’d swipe or simply send a message to show interest.
According to a study published on The Knot, as many as 22 percent of spouses met online through some dating apps or websites. 
The surface may look promising but what lies underneath is unimaginably scary. One out of every ten dating profiles are fake. Meaning, the moment you sign up and fill in your details, there’s a high chance, the fake profile would contact you. In fact, in 2019, people lost over $200 million to counterfeit profiles in a romance scam.
That doesn’t mean dating sites or apps are at fault. It merely means the profile verification system needs an overhaul with strict monitoring. Be it a Chinese Dating site, European dating site or American dating site, use of blockchain seems the most viable option to fix the issue at large and will help people find their better half no matter where in the world. 

But how blockchain could help?

The most significant contribution blockchain can offer is the validation mechanism. Now an existing dating app or site can implement blockchain application based identity verification and validation solutions within their network. With blockchain, dating platforms can develop several ways to verify real profiles minimizing the scams and fraud. 
Today’s dating network struggles with transparency ― some even go on to say there’s none ― resulting in a compromised network with bogus profiles. The issue is not a minute one. There are repercussions or chain reactions set off by the bogus identity. 
For example - Say you’re single irrespective of your gender disclosure, you are looking for a date and thus you sign up on one of the dating sites or apps. You come across someone you like, and you message them. They respond back and you two start talking. Things get serious, you start sharing your personal details. The next thing you know, an unauthorized device accessed your profile and now there are tons of profiles with your name and you possibly would have lost money as well. 
There are other loopholes for instance database hacking, like the one happened to Madison Dating site in 2015.
It’s not hypothetical. Such scams exist in the outside world and prey on people, and it is concerning when Online dating industry is growing so fast. Data security and privacy is one of the major factors that can be addressed with blockchain. Since the network is not centralized here, the transactions are recorded on multiple nodes and blocks, compromising data becomes nearly impossible. The open and secure nature of the platform network fixes most of the problems the dating industry faces.

Promoting Transparency And Good Behaviour

Blockchain's distributed ledger allows legit profiles through the underlying verification system. Moreover, those who provide additional details, solidifying the legitimacy of their profiles must be incentivized in some way. It will create a genuine database full of not-fake profiles easing the fear of dishonesty, cheating and robbing among users.

More Privacy

Admittedly, not each person has a similar dating style. Some move fast, and some go slow until they feel comfortable. A user can take charge of their dating style to find the One, all thanks to the blockchain that ensures a certain degree of privacy controllable by the user.

Tokenizing The Platform

If executed correctly, the initiative would result in a safer and rewarding experience. Users will be rewarded with tokens for performing a particular action like furnishing more details about themselves, fortifying the profile's originality while making sure it contributes to a better matchmaking system.
Now, let's take a look at a few dating apps that are trying to offer a safer and better ecosystem for dating.
Bloomatch
It is a blockchain-enabled platform that utilizes its own cryptocurrency for various usages, like rewarding users for providing accurate information and other contributions that potentially benefits Bloomatch in better functioning. The token system generates cash that goes in to maintain and further develop the platform.
New users receive tokens for signing up. The incentive program has proven to bring more users hence demonstrating a strategic success. On top of all, Bloomatch has artificial Intelligence working at its core in tandem with blockchain to give users a more fulfilling experience and even tips to improve their dating game.
Ponder
It is a dating platform that shows out of the box thinking of its creators. Ponder has taken the referral program to a whole new level. A user signs up, makes a profile and links people. If the interest turns out to be mutual, the matchmaker is rewarded with money. Basically, Ponder asks anyone who is interested, to make referrals, be it for dating, business or jobs. If the referral is successful, Ponder rewards the matchmaker.
Based on a decentralized blockchain network, the platform takes care of privacy and security and as all the data is recorded on the decentralized network, the possibility of data or privacy compromise becomes next to impossible.
DateCoin
Yet another platform that leverages the power of blockchain to counter the problems the dating industry faces on a daily basis, i.e.identification, fake profiles, fraud and bots. Meaning, no more bots or fake accounts, touts DateCoin.
DateCoin is appreciating its female verification system where a girl creating her profile will have to send a photo and a unique profile ID on a sheet of paper. A person or mod will manually verify the profile and grant authenticity. The platform runs an artificial intelligence neural network to cater to a user according to their preferences rather than to browse.

Takeaway

Yes, some flaws need addressing and many are doing just so. For a lot of people, their first dating experience lays a good believing foundation and it shouldn't be matched with the scam. Blockchain is not only removing the flaws but is also narrowing down the searches for the ideal one. People of any ethnicity or region looking for their potential better half wouldn't be that hard now. AI and blockchain will ease the process and serve users based on their profile details and choices.
(Disclaimer: The author has no vested interest in the projects mentioned above)

Tags

The Noonification banner

Subscribe to get your daily round-up of top tech stories!