2017 – Year of the ICO
2017 has so far been the year of the ICO with over $2.2 BILLION raised amongst 149 ICOs (at the time of writing). While this is great for crypto-coin investors and speculators; so many of these coins will never reach the mainstream adoption they proffer. The team at CanYa is acutely aware of this and have created a functional platform that will truly accelerate cryptocurrencies into every day use.
There are currently three major factors inhibiting mainstream use and adoption:
- Price Volatility
- Ease of use
Any crypto currency investor knows the all too familiar emotional rollercoaster that comes with investing in tokens. Although it can be equally fun and terrifying, if you’re an investor it’s hardly sustainable; especially if you are to use these tokens for everyday goods and services. This is especially relevant for CanYa‘s service providers. A plumber or app designer may take weeks to complete a job which is long enough to have their payment worth half or less of what was originally agreed on.
The team have solved this with the ingenious ‘hedge contract‘. This contract is automatically generated and ensures an immutable value for the work performed by CanYa’s service providers.
The hedged escrow contract
This is a fundamental shift for crypto currency platforms. There is now no risk of price fluctuation for customers or service providers. The CAN token now gives all the benefits of a crypto token (instant payment, security, no fees) while avoiding one of the most fundamental flaws; volatility!
If you haven’t read this now famous and hilarious post from GameKyuubi back in 2013 then you probably should (BTW if he did HODL he’s probably rich now). Although this phenomenon can’t be attributed solely to him it surmises a market psychology that further inhibits mainstream adoption of crypto currencies.
HODLers are so worried about missing out on potential gains that they are unwilling to spend their tokens. Tokens are now more instruments of speculation than utility. William Mougayer wrote about this HODL phenomenon recently.
CanYa will also alleviate this issue. Although the team is confident that the CAN token will be in constant demand though both our hedged escrow contract and our asset contract, More detail. The platform also encourages the use of it’s tokens and other cryptocurrencies in general. It does this through a number of measures; CanYa providers pay CAN tokens to promote their profile and also pay 1% on all transactions. These tokens go to the asset contract. The asset contract then disseminates these tokens to the CanYa platform and users via:
- Referral rewards
- Welcome bonuses
- Transaction cash backs
- Referral based commission payments
You can read more about each of these in the CanYaCoin whitepaper. However, they all reward users with CAN tokens through activity in the app. This reduces the incentive to HODL over using the tokens for what they were meant for; paying for the best service providers to complete any job, anywhere in the world.
Ease of Use
Unfortunately signs such as the one above are few and far between. For the average person it is much harder to pay for everyday goods and services with crypto currency than with traditional fiat. CanYa (with the help of the CanYaCoin) will change this!
CanYa will easily convert cryptocurrencies to the CAN token in-app. CAN tokens can then be used to pay for (or get paid for) any service, anywhere in the world. The CanYa team are also currently in talks with a number of future partners such that these tokens can then be used to pay for goods or services outside of those provided in CanYa (follow our partnership announcements on the CanYaCoin Telegram Channel).
Think a crypto-based VISA credit card that is synced to your CanYa account. You can be paid for your services instantly and then spend those CAN tokens on anything you may choose to without ever having to convert or exchange any currencies.
This can all be done on a free to download app that has all of the following features:
- Reviewed, information rich provider profiles
- Multi-user job bookings
- Easy to use UI/UX
- Media rich in-app messaging
- In-app calling
- Free and instant quoting
To download CanYa for free today, just head to you app store and search “CanYa”.
By addressing these three key crypto currency shortfalls CanYa is a game changer for mass crypto adoption. To find out more about CanYa and it’s upcoming ICO head to https://canya.io/.
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- Hello World Blog: CanYaCoin – An ICO with a mature product, not a hopeful idea