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What is Boson Protocol? The Decentralized Amazon 🛒

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Avatar for KryptoNodes
Written by   7
8 months ago

Not always one finds a new Blockchain project that tickles your imagination. I was searching for new projects last week and came across this awesome protocol listed on ICODrops called "Boson Protocol". One of the main excuses you'll hear people say when discouraging others to buy crypto is that it doesn't have a proper use case... that you can't do anything with them. Well, Boson Protocol aims to become the bridge between physical goods commerce and blockchain.

 

I've always considered eCommerce as the Holy Grail of Blockchain since it was basically conceived as a payment system and commercial transactions are THE use case for payment networks. Since the very first conception of a currency or payment method (in the form of collectibles), they were used to forge commercial agreements between separate and previously unknown tribes. 

By creating a platform that allows real-world goods and service to be tokenized as NFTs and trade them it gives a true use-case for blockchain commercial transactions.

What is Boson Protocol?

Boson Protocol defines itself as "a decentralized commerce ecosystem where all participants share in the value they create. Our technology disrupts e-commerce platforms by tokenizing Things and their data within a liquid digital market, built on DeFi. We call this: DECENTRALIZED AUTONOMOUS COMMERCE."

The idea of a Decentralized and Autonomous "Amazon" is absolutely BRILLIANT. If you don't like that Bezos is worth almost $200 Billion for its centralized eCommerce or you think things should be more balanced, you need to DYOR on this project!

Not only that, they tokenize the "Things" as NFTs, as stated below: 

What Problem does Boson Protocol fix?

Powerful e-commerce platforms have captured the market. These monolithic intermediaries extract excess value. They claim to value customer-centricity when what they are really doing is hoarding data and separating people from the value they create. Worse than that, they distort markets and supply chains and interfere with our economic systems, imperilling consumers, firms and even governments.

Unless they can solve this problem. They face the prospect of the total capture of commerce and its supply chain by a few extractionary monopolies.

 

 

How does Boson tackle this issue?

What is needed is a way to execute commerce transactions without centralized intermediaries and with minimal arbitration, cost, and friction.
Boson Protocol Automates digital to physical redemptions using NFTs encoded with game theory.

Their core technology disrupts e-commerce platforms by tokenizing real-world products and services and commerce data within a liquid digital
market, built on DeFi. Boson Protocol enables a decentralized commerce ecosystem where all participants share in the value they create

Their ICO is expected to go public on April 7th 2020, so make sure to check their website.

IMPORTANT NOTE: This is NOT financial advice by any means. We're not advising or telling you to buy this token but we encourage you to learn about this project. Also, we're not invested in this project and we don't plan to participate in the ICO. We'll continue to track its performance in the coming months and only then consider buying in. We've had previous experience of very promising projects that later are unable to deliver so remember, ALWAYS Do Your Own Research!

 

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Written by   7
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