Imagine a world where trading physical goods is as easy as trading digital assets. Where you can run a commerce business without having to interact via a centralized monopoly. Where customers actually own their data and can choose to keep it private or to monetize it as they see fit. Where smart contracts can execute real world commerce transactions in a decentralized and autonomous way.
None of this has been possible — until now.
Boson is a peer-to-peer system which replicates the benefits of a market intermediary, without the disbenefits of centralized systems- which abuse trust by extracting excess profits and hoarding data, and arbitrated decentralized systems- which add cost and friction.
Boson Protocol is the foundational primitive that the decentralized web has been waiting for: a provably secure end-to-end system to carry out real-world commerce transactions and to record reliable data from these transactions on the blockchain.
The development of Bitcoin and other decentralized currencies means that, at least in theory, the need for financial intermediaries has been eliminated. But the coordination of commercial transactions also requires either _centralized market intermediaries _or decentralized arbitrators to manage dispute mediation and transaction reversal. This adds cost, trust and friction, which limits the scope and reduces the efficiency of commerce.
A further problem with centralized market intermediaries is that data collected from commercial transactions is hoarded and used to strengthen anti-competitive market dominance. This imperils the interests of the consumer, other firms and even governments.
This is the moment when all that changes.
Our technology provides the solution by:
We connect smart contracts to real-world commerce and its data. While doing that, we eliminate intermediaries, minimize arbitration and rent extraction. We make dCommerce frictionless and allow people, organizations and machines to transact frictionlessly.
Boson connects smart contracts to real-world commerce
A further challenge with off-chain asset exchanges, is the physical asset oracle problem. That is, if Alice tokenizes her car and sells that token to Bob, how can Bob be sure that Alice will also transfer the physical asset- the car? Boson Protocol represents a practical workaround to this problem. Rather than tokenizing real-world products and services themselves, instead Boson tokenizes future commitments to transact. These futures contracts are represented as stateful NFT (non-fungible token) vouchers **which are governed by a novel exchange mechanism. **The Boson mechanism, which relies on a two-sided deposit structure, is analyzed as a dynamic game that evolves while allowing its participants to build reputation. The simplistic _happy path _is depicted in the diagram below. A fuller representation of the mechanism can be found within the Boson Protocol white paper, with ongoing theoretical and applied economic research steering the mechanism’s evolution.
Representation of the “Happy path” of the Boson Exchange Mechanism
This novel exchange mechanism is what enables smart contracts to exchange digital value for physical products and services whilst eliminating intermediaries and minimizing arbitration cost and friction. Boson also allows customer demographic, satisfaction and preference data to be monetized equitably via an Ocean Protocol Web3 data marketplace.
Our mission is to create the foundational infrastructure for the emerging decentralized commerce ecosystem, empowering builders and partners to reinvent commercial exchange as we know it. The ecosystem we are enabling will unbundle monopolistic market intermediaries, and make commerce programmable and more equitable to all network participants.
DeFi (decentralized finance) is sparking a revolution in financial services. As the arc of decentralization touches more and more aspects of our lives, the next logical question is “how can we apply the lessons of DeFi to real-world commerce?”
In terms of progress and development, nothing exists in a vacuum. Inventions are normally created when someone looks at existing technologies and finds new ways to iterate or combine them. As complexity scientist W. Brian Arthur observed, technology is made up of building blocks which recombine in novel ways to form increasingly complex hierarchies of technologies.
DeFi is modular for a reason. No one designed a DeFi system from the ground up. No one conceptualized the idea of an entire parallel, decentralized financial system and started planning how the structure would look.
DeFi’s composability enables developers and entrepreneurs to add further components that can interact with what is already there. This opens the roadmap to anyone with an idea and the capabilities to build new components that interlink with the existing architecture, giving the whole ecosystem new superpowers.
**‘Money Lego’ **— the modular smart contracts and cryptographic primitives which are mashed-up to enable a constellation of new products on permissionless networks — are the building blocks that have been the catalyst for the DeFi revolution.
Just as the prerequisite for DeFi to become a challenger to CeFi (centralized finance) was the availability of these building blocks, the emergence of a new decentralized commerce paradigm will need to be powered by the commerce version of these Money Legos.
This is the beginning of the Age of dCommerce Lego.
In order for dCommerce to take off in the same way as DeFi, we need the components that will allow the physical world to be mapped to the digital realm.
If you are a builder, visit our website to learn more, read our whitepaper, or join us on telegram.
Boson Protocol is that foundational dCommerce Lego block, and our vision is that an entire ecosystem of protocols and a swarm of hyper-specialized dApps and network participants will emerge. We are pioneering the dCommerce revolution. This is how, together, we will challenge the extractionary incumbents and rebalance the distribution of value across the commerce value chain.
Freeing ourselves from the constraints of existing commerce networks will allow builders to innovate new business models that are productive for every network participant and mindful of the importance of data, without allowing hoarding to take place. The explosion of interest in token economies and Web3 technologies show that there is a huge amount of value to be unlocked, that is currently being captured and controlled by intermediaries that have an extraction imperative.
In a later blog post, we will explore in detail exactly what makes commerce data so desirable, and what is to be gained from this unbundling. But for now, let’s focus on how Boson taps into this added value.
As the foundational primitive or basic plumbing of decentralized commerce, Boson Protocol has the opportunity to unlock two planetary-scale value pools:
Boson’s status as the first true dCommerce primitive with minimized arbitration enables digital and decentralized apps to be easily developed and integrated, and we anticipate for this reason that the Boson middleware will rapidly become a key pluggable feature of the whole Web3 experience.
We are building the foundational infrastructure for a dCommerce ecosystem that will provide an alternative to the existing monopolies, allowing parties to truly transact peer-to-peer and opening up new market structures that haven’t been imagined yet.
On March 8th (Monday last week), we have opened the pre-registration form for our public token distribution, which is planned to take place very soon.
We are thrilled with the overwhelming response — and incredibly honored to have so many decentralization enthusiasts with us on this journey.
You can still pre-register here:
This post covers:
The $BOSON token is the core economic unit of the Boson ecosystem. Growth in the value of the token is driven by establishing an economic flywheel, following the dCommerce sustainability loop.
The dCommerce DAO will fund projects that build core Boson Protocol software, applications, tools and integrations, as well as ensuring the growth of the ecosystem via temporary growth policies, such as supply and demand farming.
Revenue generation from projects and initiatives is funnelled back into the DAO, with a fraction of all revenue being used to buy and burn $BOSON. To get the “economic flyweel” going, part of the “network rewards fund” (see below) is used to fund the dCommerce DAO until it is self sustaining.
The perpetual funding of the dCommerce DAO is ensured through a minimally extractive fee on transaction coordination and data monetization facilitated by the boson protocol. $BOSON token holders will govern the dCommmerce DAO. For more info see our Governance design principles and $BOSON ecosystem value flows articles.
The dCommerce Sustainability Loop
Tokenomics is an important subject within the world of crypto and currently carries different meanings for different people. Some view it as “the study of how cryptocurrencies work within the broader ecosystem”, while others see it through a more narrow prism, as “the understanding of the supply and demand characteristics of a given cryptoasset”.
While we subscribe to the broader definition and believe Tokenomics to be one of the critical foundations for the success or failure of a token and ultimately the ecosystem that it powers, this post focuses specifically on the supply distribution and allocation aspects of boson tokenomics that cater to our broader community.
Over the next few weeks we will conduct our public token distribution. In this distribution we will make 6 million $BOSON tokens available for sale, which will become immediately available for use by our token holders.
Our token contract has not yet been made public, but has been audited by security firm Certik, and passed. Ahead of the public token distribution we will publish the contract addresses, developer documentation, and open source the contract repositories.
Within our token ecosystem we have a number of participants that are being rewarded for fulfilling essential roles. This table outlines the high level breakdown, and these roles are explained further below:
To date around $10million USD have been raised to fund the development of Boson Protocol. This was initially as an equity investment into Redeemeum UK Ltd, which was founded in 2019, and then during 2020 via agreements for tokens to be delivered after the network launch. More details on the token buyers, vesting and token prices are outlined later in this post.
The Boson Protocol team are incentivised to deliver long term for the project. Team tokens vest over a 4.5 year period, with an initial six month cliff, which will take the project beyond the first reference implementations and into the planned adoption phase before token rewards are made.
Our founders Justin Banon and Gregor Borosa started working together on Boson in early 2019, and have together been focused on this project for nearly two years. In addition, there are now 34 staff in a primarily remote and distributed organisation, across Europe, North America and Asia. This allocation of tokens ensures the continued delivery and stability of the core team for years to come.
Our Advisors are playing an essential role in developing Boson. We consider ourselves lucky to have some of the greats in web3 supporting us in turning the vision of decentralized Commerce into a reality. This pool of incredible talent consists of Token Engineers, web3 founders, legal experts, product owners, as well as future advisors that will support the development of a thriving dCommerce ecosystem
Our advisor team includes thought leaders in academia and accomplished practitioners in Blockchain and beyond. We’re honored to be able to count on their extraordinary capabilities and to have them as valuable allies in the quest for the decentralization of commerce.
To fund the wider development of Boson Protocol through its journey of progressive decentralization as outlined in [governance post] and the continued development of the dCommerce stack, we reserved 43.4% of boson tokens for Network rewards and ecosystem development. This will allow us to have a pool for long term sustainable funding.
Our philosophy is around incentivising network participants for long term alignment with the development of the ecosystem.
At the day of our initial token distribution, there will be approximately 8.11% of tokens in circulation (16,222,934 $BOSON tokens).
We are planning to make the public token distribution within the next four weeks, subject to market conditions. More details of the sale process for community will be made available shortly.
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You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
After the deposit is confirmed you may then purchase BOSON from the Website: https://www.bosonprotocol.io/publicsale
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once BOSON gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
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Find more information BOSON
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🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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