Competition or Cooperation?
CanYaCoin powers CanYa – the world’s first cryptocurrency-based autonomous marketplace of services. The struggle with the crypto-community these days, is trying to work out which ones will be around in 5-10 years? The secret to success is working out which ones will be complimentary or which will be supplementary; that is to say, which new ICOs will be competition with BTC, ETH or XMR and which will be in cooperation?
CanYaCoin is an ICO that is complimentary and will not be competing against BTC, ETH, XMR or any other cryptocurrency. The CanYa platform, through the CanYaCoin cryptocurrency payment integration, will actually support and encourage mainstream adoption of cryptocurrencies! The Ethereum ERC20-based token – CanYaCoin – will bridge the gap between the general skilled public and the wider crypto-community.
CanYaCoin encouraging mainstream adoption of crypto
CanYa is a platform where local and digital service providers can get found, get booked and get paid; and conversely, where the general public can find, book, pay and review skilled providers. To participate in this one-stop experience, cryptocurrency or traditional fiat currency will be effortlessly added to CanYa by the users and receive CanYaCoin.
CanYaCoin will be used to pay for services of all types within CanYa, be spent using 3rd party solutions anywhere in the world (think Monetha, Monaco etc) or withdrawn as another cryptocurrency/traditional fiat currency.
The appeal is two-fold for users of CanYa
Firstly, the CanYa platform will be a true international meritocracy for service providers of all shapes and sizes. The strengths that Ethereum smart contracts bring to the blockchain technology means CanYa will have the world’s first true services marketplace where the best providers are ranked accordingly. This peer-to-peer (P2P) curated ranking empowers customers and quality providers alike.
Secondly, CanYa will be unlike any incumbent competition because the technology of the blockchain and the efficiencies of cryptocurrencies frees our payment structure from the heavy charges imposed by “trusted” 3rd party payment solutions. CanYa will only charge a 1% transaction fee (about 20x cheaper than Uber, AirBnB or any existing services platform) and allows for instant, trusted and immutable payments all over the world.
CanYa in the real world
Imagine someone in Queensland (Australia) downloading CanYa for free and through the unbiased ranking system, finds the best app developer in the world is in Hyderabad (India). The user can peruse the provider’s profile, check previous reviews, communicate in-app and get a quote in a few seconds. Once the work is completed, the smart contract is finalised and the payment is made with next to no fees for either party – an autonomous marketplace of skills is born!
Now imagine a Venezuelan plumber who is concerned about his countries sky-rocketing inflation and currency volatility. He brings his existing clients over to CanYa so that all payments can be paid with CanYaCoin and he can be protected from currency volatility. The hedged escrow smart contracts ensures that the plumber earns a guaranteed price for his work and CanYaCoin reduces the fees his would normally pay with an existing 3rd party fiat payment system on BitCoin in isolation.
Scenarios aside, CanYa will finally bridge the gap between the general public and the crypto-community. Early BTC and crypto investors have a fortune of value that is largely trapped in cryptocurrency. Many don’t want to convert back into fiat currencies but these are real people with real-life problems. CanYaCoin will power the CanYa platform to make it easy for the crypto-community to access skilled local and digital service providers. How about a new deck on the house with your crypto profits? The possibilities are endless.
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- Hello World Blog: CanYaCoin – An ICO with a mature product, not a hopeful idea