CanYa Review November 27, 2017 – Posted in: Reviews
The Main Idea
CanYa is an online marketplace assisting people in outsourcing services to vetted providers all over the world. Literally, it is a bridge between those who need work done and those who need to get paid for their work. And that doesn’t necessarily apply for digital services only. With CanYa, you can hire a gardener, or a plumber. CanYa is better than ordinary marketplaces for services, as it implements cutting-edge technology of smart contracts to build a fair cooperation mechanism without third parties.
CanYa is the first marketplace for P2P services that connects clients with various services providers and allows direct interaction without any third parties. The platform is user-generated, meaning that providers add listings themselves, and self-balancing, as providers with good reviews will get more exposure and, thus, more clients.
Contrary to many ICOs that are raising funds to build the initial MVP, CanYa has been already beta-launched in January 2017. Now, the platform has over 200 services and 400 different skills listed for providers. Currently, CanYa consists of high performing iOS and Android apps, while the web app is in beta.
At the moment, payments are available in credit cards/cash (Australian Dollar). With the introduction of CanYaCoin (CAN), the platform will be upgraded to a decentralized, trustless and hedged escrow service. Moreover, CanYa is aiming to drive the adoption of cryptocurrencies.
CanYa App Features
- signup and search of providers/services (clients access the list of ranked providers and check out details)
- booking and quotes (clients book providers using 3 types of bookings based on the quotes)
- chat, audio and video calls (for direct communication with individual providers and groups)
- payments (currently in credit cards, cash; will later be in cryptocurrencies)
- reviews (clients review providers for their work)
- provider features (listings, management calendar, booking, invoices)
- engagement engine (referral program)
Use of Ethereum Smart Contracts and Blockchain
CanYa is going to use the cutting-edge technology of smart contracts and blockchain to create a trustless hedged escrow so that users do not need to trust the platform or any other third party to send cryptocurrencies, as the transaction is secured in the smart contract that cannot be altered. Thus, funds for a service are escrowed until the task is complete and the conditions are met.
Thanks to the blockchain technology, providers can offer one-time services or ongoing maintenance plans. Buyers, in their turn, can also negotiate the conditions. There are no limits set by a central system.
Another use of the smart contracts in CanYa is the payment automation for deposits, milestone payments and recurring payments. The platform will also upgrade the current automatic dispute resolution system with a smart contract.
Finally, CanYa is developing a special Asset Contract to process 2 forms of revenue: a 1% flat transaction fee and monthly subscriptions for providers. This contract will accumulate the funds and split them according to the proportions set in the contract (rewards pool, platform maintenance and development, tokens burning).
A Decentralization Roadmap
|Token Name/Ticker||CanYaCoin (CAN)|
|Total supply||100,000,000 CAN|
|Private sale supply||26,000,000 CAN|
|Public sale supply||34,000,000 CAN|
|Minimum amount for participation||0.1 ETH|
|Distribution time||After the ICO|
|ICO Dates||26 Nov – 26 Dec, 2017|
Note: all CanYa ICO participants are obliged to pass a KYC check.
The total supply of CanYaCoins will be distributed as follows:
- private sale (26%)
- public sale (34%)
- reward pool (20%)
- founders and advisors (20%)
Thereby, founder tokens will be frozen for 12 months.
CanYaCoins can be used as follows:
- to access to premium features in the app
- to pay for services
- to get paid for services
CanYa is aiming to raise 29,333 ETH to integrate the cryptocurrency payments, provide liquidity for the hedged escrow contract, expand features, and launch a global marketing campaign.
CanYa is incorporated in Australia and backed by a strong team of business, blockchain, and tech experts.
David Moskowitz, CEO Indorse, CEO Attores
Josh Buirski, Distributed Technologies Institute
KC Chng, CEO & CoFounder Digix
Karen Hsu, Head of Growth, BlockCypher
Layla Tabatabaie, Attorney, Author, Advisor
David Mata Founder, BlockBits Capital