Hey guys, I’m back for another review. This time I’m gonna be talking about a project which I’ve been tracking closely for quite a while now. I believe this one to be a blue chip which very possibly might end up becoming a household name.
Financial Disclaimer: I did not receive any sort of payment for making this review. This is purely done out of my own interest to share my thoughts and educate people about Boson Protocol. Currently BOSON is not trading yet but a public sale is planned very soon. I personally took part in one of the previous sale rounds so am however biased. My investments are my own and in no way should they be seen as financial advice.
Let’s get into it. The project I will be reviewing this time, as you probably already guessed it, is Boson Protocol. Now Boson Protocol was put onto my radar a couple months ago by a friend of mine when they were still in the very early stages of their equity raise. Since then, Boson has come out of stealth mode and has been ramping up marketing at a rapid pace in anticipation of their public token sale which is scheduled to happen somewhere in Q1.
Why Boson Protocol?
Boson Protocol caught my interest because they are looking to bring a revolutionary change to ecommerce by leveraging blockchain technology.
Right now if you want to partake in ecommerce you need to go through a centralized intermediary (Amazon, eBay etc…). If you want to decentralise this, you’d still have need for an arbitrator to handle disputes. Think for example of how the OTC markets are handled right now in crypto: When you want to buy something, you rely on an escrow who will hold the buyer’s funds until the transactions are completed and the buyer has confirmed that he has received what was paid for. Only then will the escrow release the funds to the seller. This service simply adds cost and friction.
Boson is developing a protocol that will actually eliminate the need for any intermediaries at all. They’re basically going to lay the groundwork for a completely decentralized commerce ecosystem. Boson Protocol is going to allow people to exchange digital value for real world products, services or things.
Boson is going to enable an open tokenized economy by automating away the digital to physical redemption problem. To do this, they will be using NFT’s (Non-Fungible Tokens) coded with game theory.
The digital to physical redemption problem.
“If I were to tokenize my car and transfer the token to you, there’s no way a smart contract can trust that I will also transfer the physical car as well. This is the problem that Boson solves.”
Boson is going to connect the real world to the metaverse.
What does this mean? Well, Boson enables Smart contracts to trade physical assets without any human intervention. it will all be fully automated, which means they will programmatically handle expiries, complaints and refunds.
With Boson you are 100% sure that you will never pay and then not receive the item.
They will achieve this by using NFT’s that flow through a closed loop system.
Unlocking the true potential of Non-Fungible Tokens.
This is one of the most exciting things to me about Boson. Right now NFT’s are in the midst of a hype cycle and are finally starting to gain traction. However, all I’m seeing right now are NFT projects that are either all about gaming or digital art. NFT’s can go waaaaaaaay beyond that. You can basically turn anything into an NFT, wether it is your car, your phone or even the chair you are sitting in right now while reading this. It does not need to be confined to digital items only, the possibilities are truly endless. However, you do need a marketplace to be able to trade these NFT’s on and that’s what Boson will provide. Only it won’t just be a marketplace like any other, this is going to be a completely automated decentralized marketplace where you have no need for trust anymore. With Boson Protocol you will always be guaranteed to either receive what you paid for or automatically be reimbursed your funds. Never having to rely on some kind of support desk but rather let the smart contracts and blockchain handle everything for you.
The BOSON token
The BOSON token is the lifeblood of the whole ecosystem. All actions on the platform will require BOSON at some level, it will accrue value through transactions and data utilization. What will push the value even further is the staking and burning mechanisms they are planning to implement. Boson will be using revenue to consistently buyback and burn BOSON from the open market. New emerging marketplaces and equitable access to data monetization for all network participants will further increase the demand for the BOSON token.
Powerhouse team and backing
Justin Banon is the CEO of Boson, an industry veteran who has previously blitz-scaled Priority Pass from a $50m into a $1Bn revenue digital voucher marketplace. He is a Physics graduate from Imperial College London, a Digital Business Model Researcher, and holds an MSc Innovation and an MSc in Digital Currency.
Gregor Borosa is the Tech co-founder and has been active in the blockchain industry since 2013. He has an educational background in computer science, business informatics and digital currencies. Previously worked in central and commercial banks, leading engineering teams to success.
They are heavily backed by Outlier Ventures who are bound to open up some massive doors.
Boson Protocol will be integrating with several industry giants like Dexfreight, a logistics platform with over $100 MIL in daily transaction listed, Makerdao, Centrifuge and Ocean Protocol.
They definitely have the firepower to deliver.
Till here ends my review, hope you guys enjoyed reading through it and understand a little more about Boson Protocol and what they are building. I’ll be dropping more nuggets about Boson on my Twitter @ https://twitter.com/CryptoGrills so stay tuned. Thanks for reading!
Make sure to check out Boson’s socials below:
