But do you think you charging no commission and coinlancer charging 3% can turn the tide in your favour ? 3% is negligible
That is not our only strength, we are the only platform which has a patent technology for hedging to deal with the liquidity and volatility of cryptocurrency. Neither the employer nor the freelancer has to worry about the fluctuations.
I cannot really buy that argument. All currencies are prone to fluctuations and it is imminent that there will be a fluctuation at the end, either depreciation or appreciation. What is the role of hedging and how it will overcome the volatility?
Patent Pending for Hedging against volatility : This is the biggest and most important feature Boon have which is lacking on any other platforms.
Especially for the job marketplace where majority of the jobs are 100 or less hedging against the crypto market fluctuations are mandatory.
Only Boon assumes the market will have a downside as well.
Both other platforms assume that ether price will always go up. Assume you are an entreprenuer and you want to make a website
You create a project in our platform and hire one person to do the job. A webdesign work will atleast take 2 to 3 weeks.
At the start of the project you deposit lets say 2000 USD in ETH or Boon. This will be in our escrow. The freelancer will only get this money after the work is done. When you are happy with the work, you release the amount.
At the time you deposit the money in our platform, we hedge it against USD. We covert your ETH into Boon dollars which is pegged to USD
So after two weeks whatever the value of ETH we convert into ETH at the time you are ready to pay the freelancer
So you will not lose any money, there is no anxiety from the freelancer whether the ether value goes down. basically all parties will be confident about the platform in giving them the returns
Conversion of ETH to Boon dollars is called hedging. This is the technology we developed using our logic and some other API
