The volatility of cryptocurrencies is a phenomenon that is becoming a nightmare to crypto holders, especially those who receive cryptocurrencies as a means of payment for their products or services.
Consider a simple decking job that might take about four weeks to complete, after agreeing on the contract and determining the cost of service, the user and/or provider would be constantly concerned about the value of his payment by the time he is done with the job and being paid. This concern is a function of what may become of the fiat value of the particular cryptocurrency as at the time of payment, considering the volatility in the crypto-markets.
Establishing a stable market
Finding financial stability, among other reasons has given rise to the creation of a trusted app-based marketplace that helps everyday people outsource local and digital services, CanYa.
CanYa platform enables digital freelancers who live in countries with volatile currencies to function without bothering about the price fluctuations of such currencies. These freelancers, by adopting the CanYa platform automatically deliver themselves from the high commissions that are usually paid on transactions at that level. The opportunity for crypto holders who want to digitize all their transactions while still making themselves easy to do business with is offered by CanYa, and this is an exceptional feature that everyone is interested upon. Also, there is a networking opportunity for people who want to make money using CanYa’s referral program.
After a PreSale which started on October 14 2017, CanYa is embarking on a public token sale for its native token,CanYaCoin (CAN). This token sale is slated for the 26th of month of November and there will be 46,800,000 CAN tokens on offer over four stages. Each stage will reduce in discount to incentivise early adopters.
App already in use
CanYa App is a proof of concept app that is already working in Australia using regular currencies. The CanYa app will use all popular blockchain coins, in addition to the CanYaCoin which has specific benefits such as being a single bridge between currencies and enabling users to pay with any coin, and providers to receive payments however they want.
Other CanYa products that are already available within the marketplace include:
Machine Learning for job bookings, Chatbot, Hedge Contract for jobs (job value guarantee despite coin fluctuations), meaning that all CanYa jobs will automatically create a hedged smart contract to lock in the value of the agreed upon price, and an international multi-lingual system.
The CanYaCoin (CAN)
Being the native token and underlying cryptocurrency of the CanYa network, CAN used in CanYa’s hedged escrow contract which protects the user base from price fluctuations (the Hedge is based on DIGIX or Erc20 Tether) as mentioned above. On the platform, service providers have the option of purchasing premium features for a monthly subscription, and CanYa may reward users with a token and create economically incentivised network effects.
There is only a 1% Transaction fee that is paid by the service provider while there are no fees whatsoever, or transaction limits on withdrawals. CanYaCoin is designed to remain stable as only 50% of users’ coins are held on the Platform, while 50% is kept in the user rewards pool.
The bottlenecks posed by differential transaction currencies when parties involved in a contract are from diverse economic regions is hereby resolved as CAN is serving as a universal bridge across nations. Apparently, the freelance services industry is set to become more rewarding and affordable, and the restrictions of traditional processes are bound to be eliminated by blockchain implementation.