Thank you for your detailed answer. I'v misread some lines and came to the false conclusion that Jobbers would have to accept MYO as payment and that would have a several pretty bad consequences, because and as I said, it would be necessary to develop the token into a widely accepted currency what's probably even harder than to make such an App work and known.
1. The vision of Mycro is to provide a global platform for local jobs. Jobs are supposed to be fulfilled locally, that does not mean it can not be a global platform. It's not mutually exclusive since I could be looking for a jobber when I'm in China just as much as in Germany.
Nobody is supposed to bear long traveling to get to a job, instead you are enabled to post & take a job wherever you are.
Of course you are right. But the question is 1) if a global platform is necessary, but especially 2) if it's possible. Different locations means different laws, once it's about jobs it's probably also about tax, once it's about Cryptocurrencies it also differs a lot and so on. Just that side would probably be already very complex. And such a platform would not just be complex because of the financial and regulatory side but also because of the social implications, direct interactions etc.
2. The competing companies have a lot of downsides we try to heavily improve upon. Many apps are trying to be the go-to place for niche jobs, whereas Mycro wants to include every kind of job that can be summarized as "home, delivery, and skilled services"
The job suppliers and seekers are scattered across the plentiful apps that are already targeting niche sectors. Instead of just being another platform competing for users, we are currently testing ways to aggregate all relevant local job offerings in the Mycro app.
This way Mycro offers a great service by bundling a lot of platforms into the Mycro app. Heavy incentivation of using Mycro as the origin platform to post job offers will make migration rather lucrative for many.
High fees are another big issue that a lot of competitors face. Whereas competitors charge up to 30% fees, we aim for raising only up to 5%.
The blockchain also enables us to offer increased security over other platforms. An implemented escrow service will only release a payment when both parties confirm a jobs completion.
We feel it is a much better approach as comparted to up-front payments for example.
Question is if this downside aren't limitations as a result of several barriers. With other words: Maybe many of them would like to do it global and wider regarding the kind of job offers and also cheaper, but simply can't. I have no real knowledge about Job-platforms and how they work but my experience with pretty much everything is that there usually are a lot of unknowns. And whenever I see that a project-team communicates very high ambitions right from the start, my main question is if they also have the expertise to know about all kinds of potential difficulties and also a way to solve or circumvent those.
3. We are well aware that most people favour cash over cryptocurrency. That's why we do not make it mandatory to accept or pay in cryptocurrency, instead it is an option that will be incentivized.
Escrow service can only work that way and the use and ownership of MYO grants extra perks, such as the ability to bid MYO to be displayed higher up in the queue of potential jobbers. The mechanism here is that the MYO bid for ranking higher are returned to the jobber once the job is completed successfully. It signals confidence in the jobbers ability to complete the task to the providers satisfaction.
On the other side, job providers can win an edge over competing providers in various ways that are undergoing testing at this stage.
We have already carefully thought out ways of achieving that without adding unnecessary complexity or friction for the end-user.
Therefore the Mycro app is not reliant on MYO achieving acceptance on the scale of PayPal, instead we want to win over users of the app to start using MYO, for example as means of payment.
We are carefully doing that to cause as little friction as possible. In fact we feel that there is great opportunity in enabling payments with traditional measures just as much as with cryptocurrency.
The token will fulfill a variety of roles. It will act as means of payment, incentivation for using the app via rewardpool distribution and as key element for the Mycro protocol.
Accurate reviewing will be a major component in the app, which will be encouraged through rewards from the rewardpool in form of MYO.
With the Mycro protocol we are enabling users to build profiles that are genuinely owned by them, not the company under which their account was created. This will allow for public access of a users past jobs ratings, whilst not revealing personal data, that other companies can use. Platforms utilizing the Mycro protocol will be able to onboard new users complete with their trackhistory of ratings. Reputable workers can generate an immutable track history of their past performance that can easily be migrated into other applications for example. With every review an account grows more valuable, since it allows for an increasingly precise valuation of users.
The release of MYO from the escrow upon a acts as an immutable proof of a jobs completion. Generally speaking, the use of the Ethereum blockchain enables us to automate a lot of processes, the cost savings are reflected in much lower fees comparted to other platforms.
MYO is essential for driving the growth of Mycro, by rewarding every desired action within the app. That way users can build their reputation quickly, since usage of MYO and review writing is heavily encouraged through rewardpool participation. To operate upon the Mycro protocol, projects must acquire MYO, resulting in increased demand with every new project utilizing it. Participants of our token sale will be the liquidity providers to said platforms, which should add more value to MYO in correlation to its user count and platforms using the Mycro protocol.
The tokenomics of MYO are designed so that an increase in user count would reflect positively in demand for MYO.
It's of course better than what I believed first, that accepting the token as payment for doing a job would be mandatory. But I'm still unsure about the general necessity of the token and if it doesn't add a lot of friction, also when it's about onboarding Users.
Imagine you wouldn't need something to raise money (I'm not critical about projects trying to get funds), the question is if what you want to do couldn't be done much better and with less friction and complexity with ETH itself, or, even better: If you would connect such a platform not only on one blockchain but on several. For example: If you look into Quant and their Overledger-System it would be possible to develop a so called "Mapp" (Multi-Chain-Application). You would be independent of single blockchains and their tokens and especially not dependent on your own token. It's never easy to establish a new token and to give it value that is not just based on speculation but on an economical system. And a token and it's price can even become a real risk. Let's say MYO would just make it to IDEx or another small exchange, and dry up there while the price goes down, it would have effect on those who actually would like to use your platform because they would draw conclusions out of it. That already may be enough for them to step back.
In my opinion there are a lot of Crypto-projects out there that could actually be good when it's about their idea and maybe also about their skills to develop it technically, but will have no chance because of their economics. A majority of those tokens only exist because teams need them to raise money. And while that is understandable it turns things upside down, because even if they try their best to find ways to give their token value, it's often nearly impossible not to add friction and a lot of complexity at the same time, simply because something is implemented that would not be necessary in the first place. Decentralized Blockchains need their Token because the protocol has to pay for itself. But most of the centralized projects would not need a token and in my opinion it would be better and more honest to potential Investors to sell a STO.
