INTRODUCTION TO BOSON PROTOCOL
Buying and selling has for long been a major aspect of life, obviously no one has it all, everyone needs something, this necessitated the activity of using what one has to obtain what one wants, a practice popularly known as trade by barter, it is the mother of all transactions.
However, the narrative began to change as other exchange mediums were discovered, with civilization and development, transactions have become simpler and more convenient. Now, instead of exchanging goods for goods,people now accept money in various forms, it can be coins, paper money or digital currencies as payment for services rendered or goods purchased.
The impact of technology should be emphasized, it has improved the pace at which the world is evolving, various industries have recorded maximum development as a result of the introduction of cutting-edge technological tools to improve performance and services offered on those platforms. The area of commerce is one of the major benefactors of this technological breakthrough, the purchase and offering of services globally has gradually transitioned into a digital format.
Today, it is more convenient to purchase or sell anything to anyone regardless of their locations, all that is required is a device and an internet connection to get one going. Unfortunately the activities of intermediaries at all levels of e-commerce has marred this amazing experience, despite several attempts and efforts made by various professionals and developers in the digital space to properly handle this, none has quite paid off until BOSON PROTOCOL.
BOSON PROTOCOL DECENTRALIZES E-COMMERCE FOR THE BENEFIT OF ALL
We have gotten used to transactions carried out seamlessly in closed digital platforms, with merchants and buyers interacting freely and maintaining the highest form of peer to peer connections in the digital market without any sort of mediation whatsoever.
Obviously, the digital system is compromised, this can be confirmed by reviewing the activities of intermediaries who mop up the available data in the market and hamper participants from having full access to the values they create.
BOSON PROTOCOL is a cutting-edge decentralized commerce ecosystem designed to provide users and participants full access to the values they create.
It is developed based on the vision of enabling the creation of various effective stack of special applications to reducethe activities of these extractionary monopolies in the market while bringing back complete decentralization to e-commerce for the good of all.
This innovative protocol revolves around the interplay between money, things and data. It is a decentralized autonomous commerce protocol that automates virtual to physical redemptions (redeeming your virtual good for a physical good) by tokenizing trade collaterals (trade “guarantees”) to real time assets as NFTs designed with game theory.
THE BIG IDEA BEHIND BOSON PROTOCOL
At a time when the electronic commerce has been overhauled by platforms who are specialists in hoarding data — disrupting supply chain and extracting all the possible benefits meant for value creators — Boson Protocol seems to bea preferred alternative, as it displaces the centralized commercial approach with inventive decentralized technology.
This is quite similar to what is happening in the worlds of financial system:
-DeFi — which is an experimental form of finance that does not depend on intermediaries to reach optimum functioning — was also introduced to curb the menace of centralization and shady practices from conventional financial institutions like banks in regards to the safety of users’ funds.
In the same vein, we see Boson Protocol displacing Facebook and Google by deploying data tokens into an open and transparent data economy.
BOSON PROTOCOL USECASE
There are several use cases for this modern age protocol, let us consider a few…
● Boson protocol video games enable the purchase of special gaming products at a specified level in the game; for instance, one can purchase a rare T-shirt or cap when one has successfully reached Grand wizard status in the game.
● This platform proposes the redeeming of exchange tokens for real time assets from the digital marketplace without involving fiat.
● It also enables transactions and commerce to be carried out in a very effective and transparent manner, in this marketplace, anything of value can be exchanged, searched or offered without any third-party involvement.
● On-chain gaming and online casino can also benefit maximally from boson protocol, this is because the protocol makes provision for participants to use their winnings for the purchase of special, real time products, also users can earn real world prizes.
ABOUT THE TOKEN
Just like every other blockchain-based crypto project, the Boson platform has successfully developed a digital token $BOSON, it is the native currency of this innovative protocol which generates value from fees for coordinating transactions as well as through its web3 data marketplace when third parties access it.
$BOSON plays a very vital role in the operations and development of the network.
Firstly, $BOSON serves as a tool for effective governance, this entails that the token is utilized to attain consensus in decision making, issuance of funds as well as ascertaining the direction of network development.
Furthermore, the token is deployed in staking, this involves locking up of crypto in a wallet for a specified period in order to strengthen a blockchain network. By staking $BOSON, participants help in reducing the circulating supply as well as cutting down on transaction fees.
Incentivizing users across the network is another use case for the $boson token, incentives are made to users who share their data, it also rewards supply acquisition and relayer marketplaces for effective distribution of inventory.
CONCLUSION
The Boson protocol is taking the E-commerce system by storm, the days when extractive monopolies and utter centralization of commercial activities in the digital space are over, with the Boson protocol, value creators are allowed access to the value they create and all the benefits attached by enabling the development of special applications to curb centralization and democratize e-commerce for all parties involved.
With Boson, users can access I-games, machine to machine commerce, loyalty and rewards, full online commerce and a crypto exchange, the $BOSON token gives active participants the perks of the platform including incentives, staking and network governance.
BOSON
website: https://bosonprotocol.io
telegram: https://t.me/bosonprotocol
twitter: https://twitter.com/BosonProtocol
EXO VENTURES
website: https://exo.ventures
telegram: https://t.me/ExoVenturesOfficial
twitter: https://twitter.com/Exo_Ventures
