Boon Tech is a block chain based Free freelance marketplace in which Entrepreneurs and freelancers meet to carry out transactions involving freelance services with crypto currency rewards.
Boon Tech combines concepts from job marketplace with lessons learned from building cryptocurrencies and their communities.
Boon Tech is the first ever Free freelancer marketplace in the world that reward a freelancer and the
Entrepreneur who uses the platform.
Boon Tech also reward the Freelancers and the Entrepreneurs in Boon Coin, the cryptocurrency of Boon Tech to inspire participation in our community that consistently reflects each person’s contribution.
The Legacy
The Legacy of Boon Tech Job in market place today consist of three parties:
- The owner,
- The entrepreneurs, and
- The freelancer.
Each party serves a role that sustains the growth and development of the platform. Despite each playing a critical function, these parties operate with vastly different goals in mind and current models fail to provide a means by which their incentives can coexist and be aligned.
The Owner:
The owning entity is typically the creator of the network and the Owner’s priority is value extraction from the user, followed by user retention.
The argument for the aforementioned incentive mechanism, is that by presenting the user with more relevant profiles when an Entrepreneur is hiring or in the case of freelancer displaying more projects they can bid that the freelancer wants will ultimately lead to more value creation. However, this is not always the case.
The owner can instead use the data collected on users to do the inverse and intentionally elicit consumer behaviours.The Entrepreneur
Entrepreneur enables the owner to extract value from the platform. They are the cash cows for the platform. Entrepreneurs fund the hole platform. Owner takes a cut from the amount Entrepreneurs spend on the platform.
Never the less, In return the platform promises Entrepreneurs endless talent for using the platform. The more Entrepreneurs spend on the platform owners make more profit.Freelancers
The freelancer’s perspective in the network is quite different. Often freelancer approach these platforms looking for work. Their incentive is to bid as less projects as possible and acquire as many jobs as possible and pay as less percentage of the revenue to the platform.
Once they establish a relationship with the Entrepreneur, they ditch the platform to save the platform fees and bidding fee.
Boon Tech Aims to support this participation in the freelance economy and online
communities by:
i. Returning much of its value to the people who provide valuable contributions by rewarding them with tokens which can be redeemed at an exchange,
ii. Through this process create a currency that can reach a broad market,
Including people who have yet to participate in any cryptocurrency economy,
iii. By making the service free for both Entrepreneurs and freelancers, our platform rewards both parties and enable Entrepreneurs and freelancers to
earn more for their effort.
iv. Freelancers and Entrepreneurs are incentivized to use the platform by providing a bonus to both parties and encourage the community activities.
The Boon Tech community provides the following services to its members:
- A secure platform for freelancers and Entrepreneurs to find talent and jobs.
- A means to get high-quality service and a committed user base.
- Free payments.
- Rewards for engaging in the platform (distributed as Boon Coins)
Recognizing Contribution
Boon Tech is fundamentally designed to address the major barriers to the adoption and monetization of a crypto currency economy which favors both parties involved. Our thesis is that the same techniques used to grow major freelancer marketplace platforms can also be used to bootstrap a successful crypto currency.
Economic incentives enabled by crypto currency can dramatically facilitate the growth of a new block-chain job market platform.
The Boon Tech network calls these different asset classes
1 Boon Coin (BOON) and
2 Boon Dollars (BD)
Boon Coin:
(1a) Boon Coin (BOON) is the fundamental unit of account on the Boon Coin blockchain. All other tokens derive their value from the value of BOON. Generally speaking, BOON should be held for short periods of time when liquidity is needed.
(1b) Boon Coin is a crypto currency token that operates by involvement in the platform, account transaction and amount earned for the freelancers.
For Entrepreneurs, their influence and rewards earned are based on amount spent and activity on the platform.
(1c) Boon Coin is designed around a relatively simple concept: everyone’s meaningful contribution to the community should be recognized for the value it adds. When people are recognized for their meaningful contributions, they continue contributing, and the community grows.
For example, someone who buys Bitcoin or any other cryptocurrency and sells it ten days later could easily lose 3% or more due to price fluctuations. Someone who buys Bitcoin and then sells it the same day will usually pay more than 0.4% in market fees alone. In other words, the inflation rate is effectively insignificant during the period of time the typical individual will hold Bitcoin.
Boon Dollars (BD):
(2a) Boon Dollars (BD) was designed as an attempt to bring stability to the world of cryptocurrency, and to the individuals who use the Boon Tech network.
(2b) Boon Dollars are created by a mechanism similar to convertible notes, which are often used to fund start-ups. In the startup world, convertible notes are short-term debt instruments that can be converted to ownership at a rate determined in the future, typically during a future funding round.
The challenge:
The challenge is creating a system capable of identifying what contributions are needed and their relative worth in a way that can scale to an unbounded number of people. A proven system for evaluating and rewarding contributions is the free market. The free market can be viewed as a single community where everyone trades with one another and rewards are allocated by profit and loss
Boon Coin is designed to enable effective micro-payments for all kinds of contribution by changing the economic equation. Both freelancers and
Entrepreneurs are rewarded using the platform and no longer face the cognitive, financial, and opportunity costs associated traditional fiat based platforms.
There are other forms of contribution that Boon Coin recognizes and rewards using objective metrics:
Distributing Currency:
There are two ways people can get involved with a crypto-currency community:
(a) They can buy in, or
(b) they can work. In both cases users are adding value to the
currency. For the most part, users will be contributing time (work) rather than
money. This is because the vast majority of people have time to spare to work, not money to spare to buy in
Liquidity:
Just because BD can be converted to dollars worth of BOON at a fair price in a reasonable amount of time, it does not mean it will be viewed as a reliable dollar replacement. These assets require liquidity in a market that enables an
instantaneous conversion between BOON and BD.
A liquidity provider buys and sells BOON. They take on the majority of the short-term price risk and long-term feed risk, giving the remaining market participants a high quality, extremely liquid market within which to trade. BOON has an on-blockchain market between BD and BOON.
Users can earn rewards by providing liquidity to both sides of this market. The
blockchain uses a simple algorithm to rank each user’s liquidity provision and
consumption. A user is considered a liquidity provider if they are using the
platform for hiring or providing service for Entrepreneurs
More Information Connect to Boon Tech
Official Website: https://boon.vc/
Telegram Channel: https://t.me/booncoin
Official Facebook Page: https://www.facebook.com/boontechusa/
Official Twitter: https://twitter.com/boontechusa
Authorized By:
Bitcointalk Username: bright4mech
Bitcointalk Profile link: https://bitcointalk.org/index.php?action=profile;u=1298523
ETH wallet address: 0x6707A43E7c34E560828f2785Eb01A4b1327877C0