Ole Knutli: Rewarding answers with the Bitcoin SV blockchain

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When asked to take a survey online, what is your reaction? For most of us, it’s a glance and clicking through the questions as quickly as possible. But what if you were encouraged to participate? It can make a difference.

That’s the idea behind CoinSurvey. The company, which participated in the second batch of Satoshi Block Dojo, wants to use rewards to help survey creators get more responses from their customers.

Ole Knutli, CEO and co-founder of CoinSurvey, explains in this week’s episode of CoinGeek Conversations that the startup uses the scaling power of the Bitcoin SV blockchain to allow clients to offer varying amounts to those who take the time to answer questions.

“Using the blockchain, we can make incentives very, very cost-effective, so you can add incentives as small as a cent, you can add incentives across each question, or you can change how much you want to incentivize them for different questions.”

One of the reasons clients may want different rewards for questions is to remove bottlenecks in the survey, by ensuring that more difficult or time-consuming questions are better rewarded.

Ole is also keen to diversify the incentives for the respondents, for example by making it possible to plant trees as a reward, as he believes this will help to entice a varied selection of people to participate.

Ole explains that his background as a consultant for several large municipalities in Norway has helped him to understand the importance of having accurate feedback from customers.

Although he did not work in the survey industry, he relied heavily on customer feedback data and therefore appreciates how important it is for customers to know that actual customers are doing their surveys.

“If you want to do a survey about who has bought, you want to be sure that the people answering the survey are actually the ones who have made the purchase, and today it’s a little bit all over the place and we think blockchain can be a very good way to tackle this problem, he says.

CoinSurvey hopes to compete with industry giants like SurveyMonkey by focusing on this tracking element of their business, as the level of accuracy and transparency provided by using the BSV blockchain will set them apart from other companies.

The business is run by Ole, his brother and a friend of his from college with whom he has collaborated in the past to build a Norwegian digital currency exchange called Bit rupturewhich is still licensed and in action today.

They teamed up to take part in the Satoshi Block Dojo in the latter half of 2022 and since then have been focused on launching the product and working with customers.

But there are also plans to expand the business and introduce an audience panel that will allow users to register on the site and get paid to record responses to general surveys, improve traffic to the site and facilitate BSV onboarding.

Listen to Ole Knutli’s full interview in this week’s CoinGeek Conversations podcast or catch up on other recent episodes:

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