Focusing on NFT and Web3.0, Boson Protocol's decentralized business ecosystem is gradually approaching

In recent times, NFT has become a hot air outlet in the entire blockchain world. Not only did Tesla CEO Musk personally “carry the goods”, Google NFT searches have also skyrocketed.

According to Unfolded data, the search volume of the Google Trends keyword "NFT" has almost reached the search volume of the "ICO" at the end of 2017, which shows the popularity of NFT.

The good wind sent me to the blue sky by virtue of its strength. Boson Protocol, as a popular project in the NFT field, has recently had a series of happy events and has captured the hearts and minds of many investors.

According to data, as early as February 2021, Boson Protocol was listed in the “CoinList Seed” 2021 list published by CoinList, known as the “crypto for wealth” and known as the AngelList of the currency circle. Not long ago, Boson Protocol announced that it had completed a ten-million-dollar institutional financing. At this point, Boson Protocol ushered in a bright moment, and the industry has high expectations.

In fact, in the blockchain world, it is not easy to become the "new favorite" of the market. The excellence of Boson Protocol lies in: “It connects smart contracts with real-world businesses and their data under the thought of data fairness, and becomes part of the Web 3.0 data value sharing economy.” Analysts believe that Boson Protocol has not only broken through. The limits of the circle can also truly give back the value of the data to every contributor.

NFT's new army Boson Protocol, the first fire before the cabinet

After the emergence of Internet technology, it has completely subverted the production and transmission of information and data. However, in the past few decades, people have only made repairs on its basis, resulting in Internet giants becoming the biggest beneficiaries, while the rights and interests of users cannot be protected, and their data and value have been excessively violated and used.

"If the Internet is an information superhighway, then the blockchain is a value superhighway." According to Justin Banon, CEO of Boson Protocol, data monopoly has given birth to data fairness thinking, and blockchain technology is the opening of data The key to fairness and value circulation.

Because of this, based on the decentralized nature of the blockchain, it is regarded as the entrance to the Web 3.0 world, and a comprehensive experiment has begun in the DeFi field. In 2020, the DeFi concept is hot, and the explosive growth of various decentralized financial products also proves this.

Currently, NFT, as a part of DeFi, has a positive momentum of development.

In February 2021, Boson Protocol stood out from many NFT projects and finally officially appeared in front of the public. It is understood that Boson Protocol aims to connect smart contracts with real-world businesses and their data, and become part of the Web 3.0 data value sharing economy.

Justin Banon pointed out that Boson Protocol is based on blockchain technology, and based on the above-mentioned Internet data pain points and user data rights protection era propositions, it has built a decentralized ecology.

On the one hand, it is necessary to certify real-world products and services, and more importantly, to certify future transaction commitments. Through the novel exchange mechanism of Boson Protocol, the community can use stateful NFT certificates;

On the other hand, in the Boson Protocol ecosystem, commercial data is concentrated in a secure and privacy-preserving shared data layer, and it is further certified in a fair manner. "Boson Protocol is expected to become the NFT vision stone under data sovereignty." He said.

"Boson Protocol is a popular project in the field of NFT and Web 3.0." Analysts believe that the biggest difference between Boson Protocol and traditional centralized giants is that Boson Protocol provides users with a fair distribution of data tokenization benefits and encourages users to share data voluntarily. Therefore, in the Boson Protocol ecosystem, users contribute their own data through token incentives, and the demand side obtains it for a fee. This fundamentally solves the infringement and use of user data by Internet giants, making data contributors a vested interest.

Justin Banon stated that Boson Protocol’s vision is to become a basic channel for digital commerce and its data on the emerging decentralized network, making it a basic infrastructure for the emerging decentralized business ecosystem, and empowering builders and partners The ability to reshape business exchanges. He firmly believes that Boson Protocol has the prospect of being widely used and will become a winner in the NFT wave.

Create a new generation of decentralized data exchange protocol

In fact, data will be generated when there is a commercial transaction. Boson Protocol, as a decentralized business bottom protocol, returns the ownership and profit rights of these real data to users. If the merchant wants to use it, the user must be authorized. At the same time, the buyer Be encouraged to share their data in exchange for the value created by sharing the data.

Gregor Borosa, the co-founder of Boson Protocol, said that Boson Protocol is committed to building a decentralized business ecosystem by linking physical assets. However, it is not an easy task to use blockchain technology to solve the trust problem in real transactions. Therefore, the core of Boson Protocol is the setting of the exchange mechanism, which is also a major technical highlight of the project.

He further explained that Boson Protocol uses the currently recognized ERC-1155 standard NFT to connect real-world businesses and their data with smart contracts to automatically complete transactions from the digital world to the physical world.

According to the white paper, Boson Protocol will first be built on Ethereum, which can be used for many infrastructures on Ethereum. Boson Protocol components will also be developed in a modular manner as much as possible to facilitate future updates or replacement of building blocks, which also lays a foundation for the development of Boson Protocol on other blockchain systems.

In solving the trust problem, Boson Protocol is based on its own core exchange mechanism, which can realize decentralized transactions with minimal trust and cost, and is sufficient to manage transactions, dispute mediation and reversal, and the importance of a trust mechanism as a business form is no less important than The consensus mechanism of the blockchain public chain system.

Specifically, Boson Protocol uses stateful NFTs to tokenize commercial transactions in the real world into different NFTs. At the same time, both parties are required to pledge certain digital currencies according to the proposed transaction rules, and in the subsequent transaction process Automatically perform according to the smart contract.

From the perspective of system architecture, Boson Protocol has established a business ecosystem that can prevent being captured by monopolists and that participants do not need to be bound by the platform. Justin Banon believes that what Boson Protocol does is consistent with the core idea of ​​Web 3.0. "We are going to promote data fairness from a technical point of view and break data monopoly." Therefore, Boson Protocol is not only a protocol that refers to trillions of commercial markets, it is also an infrastructure with native Web 3.0 attributes, which will provide future value. Exchange brings more possibilities.

In the Boson Protocol ecosystem, BOSON is the core economic unit of its token and ecosystem, accumulating value through pledge, burning, transaction and data utilization, reducing supply, in order to promote the sustainable development of the ecosystem.

Crypto market analyst Torness said that BOSON, as the value link of the Boson Protocol ecosystem, connects the demanders, publishers, and verifiers in the protocol, and its value will be verified in the decentralized business autonomous ecosystem.

The prototype of Boson Protocol's business ecosystem has emerged

Starting with Crypto Kitties, NFT has proven that the crypto market has a high degree of adhesion to the traditional market. The recent boom in the NFT market has not only swept the art world, but is also subverting the art collection market.

However, in Gregor Borosa's view, the concept of NFT should be broader, just like in the real world, non-standard product transactions are much larger than standard product transactions. He believes that the current use cases in the NFT field are too narrow, and only make a fuss about scarcity, using tokens in the encrypted world as a way of value circulation, which confines people's imagination of the NFT market.

He said that Boson Protocol can meet most of the business scenarios, and the current main intensive cultivation includes:

The first is to execute commercial transactions in the real world, so that smart contracts can exchange the digital value of physical products and services with minimal arbitration costs and trust;

The second is the distribution of certificates of non-monetary value. Boson Protocol does not simply certify real-world products and services, but certifies future transaction commitments, using stateful NFT certificates through a novel exchange mechanism;

The third is to receive secure Web 3.0 customer and seller data, exchange and monetize secure Web 3.0 customer demographic information and product preference data, and many other application scenarios. At the same time, with the help of Boson Protocol, it will replace the market's intermediary responsibilities and link hundreds of billions of business scenarios.

In terms of ecological construction, Boson Protocol established a dCommerce DAO. The donations and fundraising it receives will not only develop its own products, but also fund projects that will build DApps on the protocol, thereby promoting and accelerating the development of the entire ecosystem.

On February 19, NiftyKey announced that it had been successfully created on the Boson Protocol; on March 4, Boson Protocol announced the establishment of a strategic partnership with the decentralized incubator Duck DAO.

On March 12, Boson Protocol announced that Boson Protocol and Bridge Mutual, a decentralized insurance platform, have formally reached a strategic partnership based on the dCommerce ecosystem. In the future, Bridge Mutual will provide users with dCommerce spot transaction insurance services based on Boson Protocol.

It is understood that Bridge Mutual is a decentralized, discretionary insurance application. It provides a decentralized, scalable, and comprehensive smart contract system that provides insurance for smart contracts, stablecoins, centralized exchanges, and other encryption and DeFi products. In the future, Bridge Mutual will provide users with the Boson Protocol protocol. DCommerce spot transaction insurance service on the Internet.

At present, in addition to the successive investment of the above-mentioned projects, in the Boson Protocol's project plan, NFT art, games and DeFi fields will be the key development targets in the near future. It seems that a decentralized super business ecosystem is gradually emerging.

Justin Banon said that the ecological construction of Boson Protocol has just begun. In the future, more and more decentralized projects will build products on the Boson Protocol. Eventually, a decentralized super business ecosystem will be gradually transformed here. Into reality.