Well, it is an interesting idea. Very similar to what we call "tenders"
but i've never heard of anything like this based on blockchain. All the best of luck to you and your team, hope your platform will be useful and popular:)
Thank you very much, we hope the same - and we are confident that our concept is a great one
The reason we see blockchain as a key enabler for this kind of marketplace is that it solves the issue of payment for a small service or favor in a remote place which is of big personal value but usually small economic value, so not allowing to carry much overhead costs for wiring, etc.
If someone checks out a used car for you which is 4 hours away, you don't want to wire $10 for that upfront.
If someone reserves a parking lot for you, he wants to be sure he actually gets the money and that you show up, so an escrow function is needed.
Unlike Uber or Airbnb we don't specialize on a specific service type, so we need true peer to peer transactions and therefore credit card payments also don't work.
If someone checks out a vacation home you are about to rent in another country, you need to pay in a different currency.
A token based compensation system allows to pay a person anywhere in the world fast and with minimum overhead if that person does something for you and our system will reserve the agreed on FavorCoins in an escrow so the provider of the favor knows the FavorCoins are available and locked for him.
Add in the rating system to allow quality control of the community, a juror system to resolve disputes over escrowed Coins and a location based matching system in the Coins4Favor apps and you pretty much have all the ingredients for this platform to be successful.
Have a great weekend
