Boon Coin Token Sales

BOON.TECH TOKEN SALES
An Incentivized Blockchain Based Freelance Marketplace

Introducing Boon.Tech

Collectively fiat based freelance platform like Upwork, PeopleperHour, Fiverr had a collective revenue of 1 trillion worldwide and in US alone earned more than $715 billion in 2016. In the United States alone there are as many as 53 million freelancers, a whopping 34 percent of the workforce an increase of 700,000 from the year before. This is the biggest employment revolution in nearly a century.

Boon.Tech is a blockchain based Free freelance Marketplace in which employers and freelancers meet to carry out transactions involving freelance services with cryptocurrency rewards.
Boon.Tech combines concepts from job marketplace with lessons learned from building cryptocurrencies and their communities.
Boon.Tech is the first ever Free freelancer marketplace in the world that reward a freelancer and the employer who uses the platform.
At launch, Boon.Tech will allow employers to hire freelancers or freelancers to use the platform for Free.
Boon.Tech also rewards the Freelancers and the employers in Boon Coin, the cryptocurrency of Boon.Tech to inspire participation in our community that consistently reflects each person’s contribution.

BOON COIN(BOON)

Boon Coin (BOON) is the fundamental unit of account on the Boon Coin blockchain. All other tokens derive their value from the value of BOON. Generally speaking, BOON should be held for short periods of time when liquidity is needed. Someone looking to enter or exit the Boon Tech platform will have to buy or sell BOON. Once BOON has been purchased it should be converted into Boon Dollars (BD) to mitigate the impact of dilution over the long-term. For example, someone who buys Bitcoin or any other cryptocurrency and sells it ten days later could easily lose 3% or more due to price fluctuations. Someone who buys Bitcoin and then sells it the same day will usually pay more than 0.4% in market fees alone. In other words, the inflation rate is effectively insignificant during the period of time the typical individual will hold Bitcoin.

Legacy Job Marketplace

Job marketplace today consists of three parties: the owner, the employers, and the freelancer. Each party serves a role that sustains the growth and development of the platform. Despite each playing a critical function, these parties operate with vastly different goals in mind and current models fail to provide a means by which their incentives can coexist and be aligned.

The Owner

The owning entity is typically the creator of the network. Their role is to attract and retain users to their platform. Their goal has historically been to create a walled garden around a user base and extract value from it. They rely on user behavior and algorithms to keep the user engaged with the platform but do not necessarily operate with the interest of the user in mind. The Owner’s priority values extraction from the user, followed by user retention. The argument for the aforementioned incentive mechanism is that by presenting the user with more relevant profiles when an employer is hiring or in the case of freelancer displaying more projects they can bid that the freelancer wants will ultimately lead to more value creation. However, this is not always the case. The owner can instead use the data collected on users to do the inverse and intentionally elicit consumer behaviors.. Facebook has published non consensual social experiments that have demonstrated that by manipulating the information the user consumed while engaged with the network, they could effectively manipulate what that user thinks, feels, and believes.

The Employer

Employer enables the owner to extract value from the platform. They are the cash cows for the platform. Employers fund the whole platform. The owner takes a cut from the amount employers spend on the platform. In return the platform promises employers endless talent for using the platform. The more employers spend on the platform owners make more profit. Owners will do everything in their power to extract as much money from the employers as possible .

Freelancers

The freelancer’s perspective in the network is quite different. Often freelancer approaches these platforms looking for work. Their incentive is to bid as less projects as possible and acquire as many jobs as possible and pay as less percentage of the revenue to the platform. Once they establish a relationship with the employer, they ditch the platform to save the platform fees and bidding fee.

Boon Tech Platform

What if we could diminish these roles? What if users of the job market possessed a real stake in the networks they participate in? What if we could align incentives for all parties and create a network that naturally promotes behaviors that benefit all participants?
Participants offering a service (Freelancers), most often it is one which can be delivered online, will register as 'Freelancers' and offer their availability to do the specific skilled job.
Participants seeking certain services will register as 'Employers'and will either contact 'Freelancers' through the search function or will find the category and skills displayed in the Boon Tech Platform. Bidding for jobs and setting requests for services will give both participants the ability to interact and find mutual agreements.
The platform will provide a mechanism to ensure that, upon agreement, sufficient money is kept in escrow so the freelancers have a safety net as well as employers unless there are disputes, in which case the platform will offer conflict resolution methods.
With the issuance of the BOON Token (BOON), we create a Users-as-Stakeholders network, allowing the behavior of the platform to become aligned with the interests of its users.
A benefit of this model is the network effects it creates. Just as Facebook shifted our social attention to build network effects on its closed platform, the BOON Token will leverage our economic attention to build the network effect of an open platform.
We believe that crypto economic systems will have even stronger pull than the social ones. Our survival instincts, which heavily influence our economic interests, are stronger than purely social ones, thus leading to the faster adoption of cryptocurrencies as technologies.

The Boon Tech community provides the following services to its members:

1. A secure platform for freelancers and employers to find talent and jobs.
2. A means to get high-quality service and a committed user base.
3. Free payments.
4. Rewards for engaging in the platform (distributed as Boon Coins)

Boon Coin’s purposeful realignment of economic incentives has the potential to produce fairer and more inclusive results for everyone involved than the fiat freelancer platforms like Upwork, Fiverr, 99Designs, etc. This paper will explore the existing economic incentives and demonstrate how Boon Coins incentives may result in better outcomes for all participants.