Listen to this articleCanYa is the world’s first blockchain-based platform for services. CanYa brings the benefits of crypto payments and the blockchain to a digital services marketplace, for a cheaper and more transparent experience for providers & users. Below is our recent interview with John-Paul Thorbjornsen, CEO and Co-Founder of CanYa:
Q: Could you tell us something about Bountysource?
A: CanYa also owns Bountysource, the world’s first open source platform to fulfil peer-to-peer software bug bounties and audits.
CanYa services marketplace and Bountysource Open Source Developer platform will soon both integrate with CanYa Coin CAN Token as a payment option.
CanYa will completely change the world’s $2 trillion ‘gig economy’. CanYa will be a fully decentralised, international platform for people to book and pay (or be paid) for both digital and home services. It is for freelancers that want the option of using cryptocurrency, and users who want a more affordable, reliable service.
Want to get a peer-reviewed developer for your new website? Use CanYa. Need an app developed? Book through CanYa. Need a graphic designer over the weekend? CanYa has the person for you.
CanYa aims to use all of the amazing benefits of cryptocurrencies and token economics to massively disrupt this industry with up to 20x reduction in fees when compared to incumbents like Upwork and Fiverr.
CanYa already has a working platform with thousands of jobs completed. The next version of the app will be released shortly, integrating the cryptocurrency payment layer and improved layout and UX.
The road map will move the platform to a completely decentralised ecosystem, where payments, governance, storage and eventually compute will all become decentralised. It will become a truly international meritocracy for services that is run entirely by those who use the platform. This has never been done before and will revolutionise the global freelance industry, and the way users book and pay for services. CanYa will also be one of the first real-case utility tokens to demonstrate the usability of cryptocurrency on a broad scale.
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Q: What are the core features of CanYa?
A: 1. Low fees
2. Option to pay in CAN Token cryptocurrency
3. Global, decentralised & transparent (including peer-to-peer user rating system)
4. Empowering a community of digital nomads to live across borders
We are known for quality service providers for digital, including software development, graphic design, and UX/UI.
Q: One of the biggest problems of cryptocurrencies is high volatility; how do you plan to solve it?
A: CanYa has solved this in a unique way by creating a ‘hedged escrow contract’. We will use our partners like Digix (gold backed token) and Kowala to create a set datum for job value. Volatility of the external token price (which is traded on exchanges like any other crypto token) will be rectified by adding or removing tokens to the smart contract to keep the datum job value that was agreed upon (all done automatically via smart contracts).
This is groundbreaking. It means the token can behave like any other cryptocurrency that trades on exchanges, but once a job is agreed upon and funds are escrowed, users can rest easy knowing that job value will always remain constant. This has been a barrier in crypto adoption thus far and the CanYa team are very excited about our solution.
Q: Where do you see the cryptocurrency industry going in 2018?
A: 2017 was a huge year for cryptocurrencies. Almost every project’s value went up in significant multiples. We see the market this year becoming somewhat more controlled and steady. We also think there will be much more scrutiny on projects and it will become much harder to raise money via an ICO.
As government regulations are brought in to regulate the industry, meeting requirements will become a big topic of conversation and challenge for some projects.
Finally, with the rise of the Gibraltar based exchanges and legislation, we may see the rise of tokenised securities, which have huge potential as tokens represent shares of a company.
Q: Could you share some potential use cases of your platform?
A: Sure, CanYa plans to disrupt both the digital and home services industry. Let’s use an example from both.
Jenna is an SEO professional that loves to travel. She is part of the rapidly rising movement of ‘digital nomads’ ie all she needs for work is a laptop or smartphone connected to the internet (some estimates say that there could be 1bn digital nomads by 2040). She has been using UpWork and Fiverr but has been losing around 20% in platform fees and another 3% in currency conversion fees.
She sees CanYa and signs up for free. She then gets a job request for some SEO work from someone on the other side of the world. Jenna uses the powerful CanYa platform and completes the work and gets a great review. When it comes time for payment Jenna pays instantly through the platform in the $CAN token and is only charged 1% there are also no currency conversion fees as she is using a universal cryptocurrency. For her $1000 dollar job Jenna now gets to keep $990. For the same job on Upwork she would have walked away with about $770. This is why CanYa is such a disruptive platform!
Luis is a carpenter in Venezuala. He doesn’t have a bank account because his currency is experiencing hyperinflation. Like many of his compatriots he has been using cryptocurrency for some time as it is a more stable and use able medium of exchange. He can now use CanYa to create a free profile and set up his carpentry business. He works with locals in his area to be found, booked, paid and reviewed. CanYa’s hedged escrow means that the value of his jobs remain steady while he completes his work. He is now the number one carpenter in Caracas due to his great reviews in the platform. His business has now expanded to 4 employees who are also found, booked and paid in CanYa using universal cryptocurrency payments with almost no fees.
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Q: What are your plans for the future?
A: CanYa will initially focus on creating a thriving marketplace for digital service users and providers. As a cryptocurrency startup, and also owning the Bountysouce open-source developer platform, we have a unique advantage in this space.
However, we would love to eventually include all services on CanYa, to enable cryptocurrency as a payment option for any jobs that need to be done.
CanYa will eventually become the go to platform for all services, akin to the AirBnb of services, all over the world.
The services industry is rapidly changing, middle men are being removed from the equation and With the power of a token economic model and blockchain technology, CanYa will remove middlemen, reduce costs, and improve efficiency to share the benefits of cryptocurrency to online marketplace users around the world.
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