Cryptocurrency and Blockchain

Decentralised Autonomous Service Marketplace CanYa Records Significant Success Amidst Major Partnership

Decentralised autonomous marketplace of services, CanYa has ended a highly successful token presale amidst massive interest from the blockchain community. During the presale, the startup raised a total of 4530 ETH, equivalent to $1.6 million USD as at the time of writing.

Major Partnerships reached

CanYa presale comes amidst its recent partnership with Indorse - a decentralised professional social network, Indorse and public low-latency, low-cost, decentralised NoSQL database with replicable storage from nodes, Ties.

CanYa plans to integrate the key feature of Indorse which allows platform users to establish skills on their profile that has been unquestionably verified as correct through crowd-based consensus. CanYa providers show off these crowd-verified skills, which removes the need for CanYa to centrally curate and vet these skills.

While in partnering with Ties, CanYa will be one of the first mainstream platforms to integrate the technology which will reduce CanYa’s cost of maintaining user-data, and adheres’ to CanYa’s decentralization roadmap. In return, Ties gains a strong partner willing to help mature their disruptive technology with a real-world global use case.

An expanding ecosystem

As of this year, there are an estimated 34 million gig economy workers, with that number expected to rise by 43% by 2020. This rise in digital nomads i.e. workers who complete their work via technology, without a company office, has led many to question where online marketplaces can go from here, even as local freelancing has skyrocketed as well.

According to the Co-founder of CanYa, John-Paul Thorbjornsen, CanYaCoin will further empower individuals by providing a single international cryptocurrency that can be used for services throughout the world. “It is completely decentralised. By pairing our platform with cryptocurrencies, and blockchain technology, it means that we can shift the entire platform into something that’s decentralised, and trustless,” says Thorbjornsen.

Powered by blockchain

CanYa rides on the blockchain properties of decentralization and security to deliver a peer-to-peer platform where service providers and clients can transact without the interference of middlemen or any form of corporate hubs. This in turn reduces the cost of transaction and by extension allows for higher revenue for service providers and lower prices for consumers.

The security of transactions are ensured by an escrow procedure where payments are held in CanYa Coins - the platform-specific ERC20 token until the terms of the specific smart contracts are met by responsible parties.