Creating a global peer-to-peer service marketplace powered by blockchain technology
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Disrupting a $18 Billion Global Economy
The Sharing Economy has grown to almost $20 billion globally. Uber and Airbnb are great examples of business models based on the sharing economy and turning everyone into a provider or user. However, they are limited to two specific fields. Coins4Favors is a decentralized blockchain enabled platform for small favors around the world, opening the Sharing Economy to everyone. Using our FavorCoins you can now ask people around the world to do small favors and mini-jobs with instant gratification.
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Disrupting the global service industry & bringing blockchain to the people:
Watch our Video to see how Coins4Favors will disrupt the traditional service market via combining blockchain and location–based matching algorithms.
Why the World needs Coins4Favors
The digital revolution has changed our lives to become more comfortable and convenient in many aspects. The global sharing economy has reached $18 Billion in 2017, forecasted to reach $335 billion by 2025. Uber and Airbnb are two great examples of what can happen if you enable a peer-to-peer economy between community users. However, they are limited to two specific areas of service needs, transportation and lodging. Imagine you could turn everyone into a service provider for just about anything.
Companies like Amazon and Alibaba have revolutionized internet shopping for goods and created a multi-billion dollar industry by focussing on what people want: easy access, fast delivery, reasonable prices and a convenient shopping experience using their smartphone, tablet or computer.
Buying Standardized Services
The service industry has been revolutionized in the past few years as well, with companies like Airbnb and Uber moving into specific service industries for standardized mass services like transportation and lodging, turning everyone into a potential service provider by establishing platforms for targeted services and payment systems.
What about non-standardized Services?
Ever thought it would be great if you knew someone local or in a remote place who could do you a quick favor?
- someone to wait in a queue
- take a picture somewhere
- look up something for you
- bring something to you or anywhere for you
No giant company helps you find a solution for these things. The reason is that their business models don’t work for these services. Lack of standardization (every favor is different) and no predefined skillset of providers is an issue. Low margins (even though a favor is very valuable to you, it typically is low cost), lack of easy payment systems or substantial overhead costs relative to the value of service, etc. are others.
The Gap for Non-Standard Services & Favors
|Goods and Merchandise|
What is Coins4Favors ?
The Coins4Favors system combines innovative blockchain technology with GPS based location services, a state of the art smartphone app and web-based database solutions to allow everyone to request or offer favors including compensation with FavorCoins.
- a blockchain driven compensation system
- escrow function to ensure payment
- ratings based quality assurance
- location based filtering
- smartphone-based user interaction
Global Favors - just one click away...
Now you can ask anyone to do a favor for you anywhere in the world with a simple click in our Coins4Favors App in the C4F ecosystem. You can also help others by doing small favors for them and earn Favorcoins, our own ERC20 based token, which you can then use or convert back for your own benefit. All of this is done instantly on a blockchain driven marketplace.
Which problems do we solve?
The analysis above explains why the best service provider for your small favor need is another person, who does not need high margins or constant orders to cover the cost of running a service company. However, there are several issues here:
- how to find a person to provide a small favor or do a mini-job for me somewhere remote ?
- how can I know if I can trust that person ?
- how can I pay small amounts in real time for the service ?
- how can that person trust me, that I will pay ?
- How can conflicts between partners be resolved in a fair manner ?
Please see how Coins4Favors solves these five issues below:
Our GPS enabled C4F App helps to connect a service need at a certain location with users within a specified range of that location. You can easily see who is in the area and willing to provide a service or if you are a provider you can see favor requests in your area and negotiate a transaction.
The integrated rating system of our Coins4Favors system allows both parties to quickly assess the quality and trustworthiness of partners based on their previous transactions and associated ratings. All transactions and ratings are kept on the blockchain for a maximum of transparency.
With our ERC20 compliant FavorCoins you can pay service providers anywhere in the world instantly, regardless of local currency and exchange rates and without expensive wiring fees, credit cards, etc. The blockchain powered system allows transferring FavorCoins almost in real-time.
When placing a favor request or accepting a favor offer, the amount of the FavorCoins needed is automatically moved into an escrow wallet from where they cannot be moved back to the buyers’ wallet by him. Upon completion, the buyer releases the FavorCoins to the provider.
In case of a dispute over a provided favor or mini-job, other independent users of Coins4Favors will act as jurors for a small fee to assess the situation, hear both sides and vote on the outcome. The majority vote releases the FavorCoins from the Escrow wallet back to the buyer or the service provider.
The C4F Ecosystem
By combining a location-aware smartphone app with blockchain technology and a database server system, the Coins4Favors system creates a marketplace for people looking for small favors or services and those willing to provide those favors anywhere in the world.
The Coins4Favors system covers all aspects needed to identify and connect potential service partners successfully, evaluate the quality of potential partners, negotiate details of a deal, support communication throughout to service completion, secure payment via an escrow wallet function and even resolve disputes over services provided via independent jurors.
How it works:
Based on several years of experience with location based apps and in-app communication from our other projects such as TREXCARE (www.trexcare.net) we have designed a system structure which combines the best of two worlds to generate a reliable and efficient ecosystem. Coins4Favors allows to connect people with a need for a small service or favor with those willing to provide it.
In simple words the process only takes 4 steps:
- Specify a Favor Request in the App
- Other users in that location get notified and can place offers
- Accept an offer and wait for the favor to be completed
- FavorCoins are transferred and ratings are given
We have carefully analyzed what data should reside on the blockchain and what is better hosted on a server database for the right balance of safety, transaction costs and transparency. A more detailed overview of how the components of the system interact for a typical favor request is outlined below:
Chief Financial Officer
40+ Years of experience in German finance industry. Former head of corporate lending department & service center, bank manager at large Credit Union.
Benefits for Token Holders:
- participation in the C4F ecosystem with FavorCoins
- easy access to favors and minijobs around the world
- ability to be an early adaptor and supporter of a unique new platform
Don't miss out on our 25% Pre-ICO Rebate, sign up today:
Pre-ICO is open now. You can get fantastic bonus tokens of up to 25%. Don’t miss your chance and get your tokens today !
Pre-ICO is Active !
Pre-ICO and ICO Schedule
|Token Sale Date:||6/1/18 – 7/30/18|
|Pre-Ico||5/15/18 – 5/31/18|
|Exchange Rate||0,05 Eth = 100,000 C4F|
Pre-ICO Bonus Structure
During the Pre-ICO there will be bonus rewards for early contributors:
During week 1 from May 15 to 22: 25% extra C4Fs
During week 2 from May 23 to 31: 10% extra C4Fs
A maximum of 10% of the FavorCoins will be offered according to this bonus plan
Token Sale Structure
The following structure shows the use of the FavorCoins:
- 10% will be offered with rebates in the PreSale
- 60% will be offered in the ICO
- 5% of the coins are reserved for our Bounty Program.
- 15% will be kept to fund ongoing operations of the Coins4Favors system
- 10% are reserved for the team members.
(These coins will be locked till 1.1.2020)
Coins4Favors - Bounty Program
In order to reward our strongest supporters we have setup a Bounty Program for referrals.
Upon registration for contributions during our PreSale or ICO you will get a personal referral link which can be shared with friends and other contacts. Every registration that is made following this link will be connected to your referral. Once the new user who signed up based on the referral contributes the minimum amount of Ether to the PreSale or ICO you will automatically be rewarded with 5000 FavorCoins by the Coins4Favors smart contract after your initial buy.
Budget Plan - Contribution Estimate and Hard Cap
We hope that you believe as much as we do in the vision to establish a global ecosystem to connect favor seekers and providers around the world. In order to reach this goal we have planned for a budget to ensure completion of the technical development, market the Coins4Favors system to reach global coverage, fund ongoing operation and secure compliance.
Upon successful completion of the above mentioned token sale, the maximum contribution (hardcap) has been set to 33,687 Eth.
Budget Plan - Use of Contributions
Based on our Budget Plan we will use the contributions made during the PreSale and the ICO for the following aspects:
- 40% for Marketing of our Coins4Favors system
- 15% to finish the technical development
- 20% for ongoing operations costs
- 15% for legal and compliance
- 10% contingency
Your opinion and feedback matters to us. We strive to make Coins4Favors the global platform for mini-jobs and favors. Let us know what you think and if you have any questions for us: