BUSY DAO Platform : Vision, Backers & Investors
Busy Technology is all set to launch as a decentralized distributed solution that uses blockchain technology to provide a powerful platform to the freelancers. The system will further adopt Web 3.0 technology to facilitate frictionless interactions for B2C and C2C interactions.
In my previous medium post, I covered the basics about DAO or Decentralized Autonomous Organization. BusyDAO is a recent addition in the same category as MakerDAO, Aragon, MolochDao, MetaCartel, GitCoin, etc operating under similar principles. In this post, I will give an overview of the teams vision and their early backers.
Genesis of BUSY
The idea of BUSY materialized with the efforts of a group of blockchain enthusiasts and experts, who dreamt of making the ecommerce market more decentralized. With such an aim, the team has created the concept of a revolutionary DAO platform that will aid freelancers and ecommerce industry through blockchain and Web 3.0 technologies. Blockchain acts as the trust layer. Users can verify the data containing blocks anytime through random selection of those blocks.
Many ecommerce buyers fear double-spending error with their cryptocurrency. When double-spending occurs, it becomes extremely difficult to get the money refunded. BUSY Technology focuses on eliminating the double spending issue through establishing a high-level of security.
Investors and Backers
Team behind BUSY Technology has been working on the platform since 2020. Busy Technology recently announced the closing of its highly oversubscribed pre-sale rounds altogether, with the total amount of $700k raised in seed and $1.2M raised in private round.
This fundraising was led by Spark Digital Capital, followed by many strategic investors, including Insignius Capital, PrivCode Capital (MXC), Block Dream Fund (OKEx), Momentum-6, 499 Block, DFG, Gateio Labs, HotBit, Blockpact Capital, E-Digital Assets, SpykeFast, Ternary Capital and many other strategic backers. Busy backers now include a diverse group of prominent VC funds, leading industry players and leading digital-asset trading platforms.
Vision
Busy Technology comes with a unique model that can be integrated with B2C and C2C platforms through the smart contracts. Along with utilizing blockchain technology, Busy DAO is creating an engine for B2C/C2C platforms with other cutting-edge DeFi solutions, Utility Staking, and NFTs. Utility staking is the most notable feature of the platform which is already active on MXC Exchange. The feature enables real use of the staking model with the platform generated rewards and space occupation. Some other notable features of Busy Technology are:
- Completely automated platform
- Decentralized governance
- Online and offline solutions
- High-level transparency
- Top security
Key Takeaway
The freelance platform will be available for everyone without any charges. The platform will adopt Web 3.0 technology that will make every user on the platform a vital part of the decentralized ecosystem. Users will occupy space on the platform through utility staking with a fixed reward of 33% p.a.
Disputes may occur, but they will be managed and rectified by users in the ecosystem via a decentralized path. The result of resolving a dispute will be recorded on the blockchain so that it cannot be omitted or erased later. With these advanced features and a DeFi economic model, Best Technology will assure the best experiences for everyone. The ecosystem will be protected from spam and other security threats. This leads me to believe that Busy solution will be distributable to everyone who will see an advantage in the technology through smart contracts.
Follow them on Social Media :
Twitter: https://twitter.com/Busy_Technology
Telegram: https://t.me/busy_official
Medium: https://medium.com/busytechnology/
Youtube: https://www.youtube.com/channel/UC-ujH8qdQ-A6bLT6quR0pvQ
LinkedIn: https://www.linkedin.com/company/busy-technology
Facebook: https://www.facebook.com/busytechnology
Instagram: https://www.instagram.com/busy.technology/
