ICO Spotlight | CanYa - The Premier Blockchain-Powered Marketplace of Services

CanYa is a one-stop-shop platform that provides the everything a person would need to hire virtually any service you can imagine.

GLOBAL

CanYa can be accessed anywhere in the world using either their iOS, Android app, or beta web-app.

PEER-TO-PEER

CanYa has embraced blockchain technology to eliminate the third-party layer. Service providers and customers interact directly using smart contracts. By leveraging blockchain, CanYa’s platform will provide a trustless, secure, and fast payment service.

END-TO-END

CanYa will support the service provider/customer relationship end-to-end (discovery, engagement, booking, tracking, payment, receipt issuance, feedback). In addition, CanYa includes inbuilt chat, VoIP, calendar, alerts, payments, listing management, reviews, quotes, direct bookings, detailed pricing, job broadcast, multi-user jobs and much more.

SERVICE-AGNOSTIC

CanYa is service-agnostic, which means any service and/or skills can be supported.

The service provider market is tremendous. Here is an estimate on industry size that show just how large of a market CanYa is in:

Here are just a few examples of types of services/skills that CanYa can accommodate (currently, CanYa has 200 service categories and 400 skills listed):

• Need your lawn mowed? CanYa!
• Need to find a contractor to remodel the guest bathroom? CanYa!
• Need your tires replaces? CanYa!
• Need a developer to make changes to your website? CanYa!
• Need a firedancer at your spouses’s 50th birthday bash? CanYa!!!

MARKETPLACE PLATFORM

Think of CanYa as a one-stop-shop marketplace destination that can provide all your needs whether you are a service provider or customer.

FUTURE PLATFORM FEATURES

CanYa has several platform capabilities that are planned and/or currently under development.

ALGORITHMIC JOB MATCHING - PLANNED

Improving job matching using proprietary algorithms.

SMART CHAT BOT ENGAGEMENT - PLANNED

An assistant to help guide service providers and customers throughout the end-to-end process.

TRUSTLESS PAYMENT AUTOMATION - PLANNED

Business process that can be automated such as deposits, milestone payments, and reoccurring payments.

TRUSTLESS HEDGED ESCROW – UNDER DEVELOPMENT

Cryptocurrency prices cab be volatile. In order to ensure escrows don’t lose too much value, CanYa partnered with Digix and will use the Digix token (DGX) to secure the store of value for the hedged escrow function. Digix is a cryptocurrency backed by gold as every 1 DGX = 1 gram of gold.

CanYa also plans to offer additional protections against downswings of up to 20% and on a pro-rate basis above that. However, the hedged escrow function is subject to a number of regulatory and technical developments. CanYa will monitor all developments and adjust accordingly.

ASSET CONTRACT – UNDER DEVELOPMENT

Asset contract is a term used to mean something with a set of governing rules to be followed. In this case, CanYa will collect CanYaCoins through either a 1% flat transaction fee and/or a freemium subscription model. The collected coins will be sent to the asset contract where the coins will be dispensed according to the following set rules:

PROVIDER SUBSCRIPTIONS: CONTINUAL TOKEN DEMAND – UNDER DEVELOPMENT

Providers have the option to purchase a monthly subscription which comes with a “Featured” display status.

REWARDS POOL – UNDER DEVELOPMENT

The Rewards Pool will be used to distribute CanYa tokens for referrals, welcome bonus, transaction commissions, and growth per month.

FIAT INTEGRATED/CRYPTO PLANNED

CanYa has a number of functions that are operational using fiat that will need to be converted to cryptocurrency acceptance. These functions are self-explanatory however CanYa’s Whitepaper describes how they work:

• Dispute resolution
• Transaction Fee
• Amended Invoices
• Rewards – Friend referrals
• Rewards – Welcome Bonus
• Rewards – Commission Payments

ICO DISTRIBUTION DETAILS

TOKEN NAME	CanYaCoin (CAN)
TOKEN TYPE	ERC-20
ICO END	DEC 26th 2017
TOTAL SUPPLY	100,000,000
TOKEN BASE EXCHANGE RATE	1 ETH = 1000 TOKENS
MINIMUM PURCHASE	0.1 ETH
RESTRICTIONS	Due to strict regulations, we cannot accept participation from US citizens unless you qualify as ‘accredited investors’

ROADMAP

DATE	MILESTONE
MARCH 2018	Global Launch - Global launch. KYC/AML support centers in Europe, South-East Asia, North America, China and Australia. Fiat payment support with partner exchanges.
JULY 2018	CanYA 2.0 - In-app translation service, video calling, chat-bot, advanced desktop features.
OCTOBER 2018	Advanced Matching - Advanced ML algorithms to smartly match the best providers with each job
DECEMBER 2018	Decentralized - CanYa will integrate features for users to assist with curation and arbitration.
2019	Decentralized 2.0 - The first of the storage and compute decentralization aspects are integrated pending technology maturity.

FINAL THOUGHTS

CanYa is the future in the service industry market thanks to blockchain. Their growth rate will be tied to two other rates:

• how fast cryptocurrencies will be acclimated by the mainstream public and
• their ability to market and grow their service provider base.

The general public is still unsure about crypto’s value and there is nothing worse than needing a specific local service and not being able to find one. I’ll concede that there are a lot of other services that don’t need to be local to the person looking for one. Hitting growth targets might be an issue at some point, but I don’t know when. In other words, CanYa’s team needs a paycheck as I’m sure they like food and shelter 😊

If you believe as I do that cryptocurrencies will be the new overall economy, then it’s not hard to assume that CanYa has all the components in place to be highly successful. I really like that they are already have an established product and a team that has experience in the service industry space. However I’m unclear if the team has experience with operating previous businesses. While not required, it’s something that investors like to see in the traditional venture capital world (more important than the product). Don’t forget that a super-team can take a mediocre product and likely make it great while a mediocre team with a super product will likely run it into the ground.

One last note for those interesting in contributing to their ICO. I’m on a mailing list and I received a message about their plan to airdrop tokens to holders. The specifics are a little vague. Will this be only for ICO contributors as well as holders that buy CAN when it hits the open market? Will they take a snapshot at a specific time?

Here is the exact wording:

CanYa HODL Club:

The CanYa ICO is breaking from the current status quo and is creating the CanYa HODL Club. This club will encourage ICO contributors to HODL their tokens! By doing this we will be able to protect those that believed in CanYa from the beginning and share our long term vision for what CanYa can be. CanYa is here for the long-term and we want our ICO contributors to be with us all the way.

Every month, for the first three months after the closure of the ICO, HODL club members will be airdropped tokens proportionally to their token balance. The first month is 1 million CAN tokens, the proceeding two months will be tokens from our awesome partners – to be announced in due course.

Also once a year, the rewards pool will airdrop an amount of CAN tokens to those in the HODL club which will again be based on their token balance. This means the longer you are a member of the club the higher your proportion of air-dropped tokens will be as people leave the club. There also awesome give away's of CanYa merchandise, such as CanYa hardware wallets, minted CanYaCoins and more.

Overall, CanYa has a lot of potential as a first market mover in the crypto world. I’ll have my eye on them and so should you.

REFERENCE LINKS

CanYa Website
Whitepaper
ICO Contribution Page

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