Hello everyone! It's our second review and this time our hero is CanYa. Interesting project will fill an existing demand. Let's have a deeper look at it. Let's go!
This week has brought a lot of new projects from different industries. When I did my research on them, I came across a project from the category of infrastructure: CanYa, it's a marketplace of services. Doesn't matter what kind of services are you looking for - all of them will be available at CanYa.
Traditionally, we'll start from an already existing ratings. CanYa has been listed at 4 listings and 2 of them had rated it. Below you will find pictures with ratings and related information.
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CanYa's Overview
We are done with the most boring stage of statistics and ready to dive into future CanYa business. First of all let's see what is the core idea of the project: service marketplace, what is it?
Services can be classified as some sort of goods. For example, when you order accounting services, you're actually waiting for correct balance sheet or glad for no problems with taxes, but you do not care how this goal will be achieved. That what service marketplace is. We used to think that such marketplaces are for plumbers, gardeners and such kind of jobs, CanYa extends these boundaries and is going to provide all services you can imagine.
All this made me think that CanYa could be huge aggregator of outsourcing providers. Like e-Bay nowadays. Each service provider at their platform will perform tasks same for businesses and private clients. Popularity of the service will directly depend on the people's awareness of their brand. Of course, important role will be dedicated to the to the comission fees charged by CanYa. It is really low at the platform, only 1 % for each occurred transaction within the system. Additionally, for service providers they developed subscription fee, it will be paid in internals CAN tokens and no exact figures yet.
At stage of personal communications, team members were quite fast and reliable. All what I've heard from them was exactly what I wanted to hear. Some research in twitter gave the same result - teamwork organized perfectly:
Pros and Cons
So here we are! The most essential parts of the project - pros and cons. (As I always mention, it's only author's opinion)
Pros:
CanYa already has working MVP. Each project with MVP is going to play long.
Very low transactional costs. 1 % per transaction?! It is really low. It remembered me Bitcoin at his infancy stage :))
p2p marketplace. Today p2p abbreviation sounds like some sort of freedom. People are trying to use decentralized services first, for no apparent reason.
Cons:
To be popular they should be global. To be global or worldwide team will need to have sufficient funds. Here they could face with strong traditional marketplace (without blockchain)
Of course there are other smaller issues with the project but main is financial so we will concentrate on it firstly. Moreover, depends on what final price will be per subscription, these plus maybe transferred to the opposite side. Let's continue with some market analysis for CanYa's niche.
Market Overview
Because types of jobs are not limited to any given range, so total market volume covered by the industry is hard to determine. If to look at project's whitepaper we will see that figures in there are measured in trillion of dollars. They had reference list with all links, provided that information. All that links were attentively checked by myself and you know, they didn't lie they just blurred the boundaries of the project to show their "potential". Let's hope that plans will be justified.
Market is really huge but main problem is how will this project survive on the background of such giants in e-commerce as AliBaba (cap: $490 bn) or Amazon (cap: $568 bn) which could eat them at lunch. The biggest hope is that now, most of huge retailers doesn't have active blockchain projects or they hope to successfully sell it to giants, later with customer base and so on.
Conclusion
So, why do they need blockchain??? Here, at CanYa, blockchain technology plays habitual for itself role - encrypted database with high level of trust to the data in it. All feedbacks and information regarding quality of the service provider will be stored on blockchain, so they cannot leave fake feedback.
For service providers, main bonus is smart contracts. When you provide someone with your services, normally you'll been paid at the finish point, so no guarantees that your employer will pay you as agreed. Smart contracts solve this problem. Money will be freezed right after starting point of the service.
CanYa's ICO is very popular, team is quite adequate and whole background can be rated as POSITIVE. Whether to buy or not you have to decide on your own but as for me, CanYa is good investment for short-term. Looking at all informational background now I predict a lot of hype around it when trading started. So my choice - short term!
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