Bobs Repair is launching a decentralized platform using smart media tokens to eliminate review fraud and provide lower pricing in the home repair industry.
The company was formed by the Prandecki brothers in 2013 that connected customers to contractors. In total they transacted over $1 million dollars and over 50,000 service calls. They still had three problems they couldn't resolve. Fraud reviews, advertising costs and inflated pricing. The answer they came up with, was to migrate their current user base to the STEEM platform.
The STEEM application will be available on iOS and Android, making it widely accessible. It will also eliminate previous problems as after every transaction, a review will be given. This review will allow customers to find better skilled workers, while the lesser skilled ones will have to offer better services to achieve a higher ranking.
The skilled trade market is estimated to be $340 Billion dollars in the US alone. As the platform goes international its prospects increase exponentially. With no direct fees, how does Bobs Repair profit? First off, by being on the STEEM blockchain. Secondly, through escrow, when users use a escrow service they will be charged 1.5% of the transaction cost and thirdly, they plan to offer services such as loans and insurance.
One of the bonus features of holding the ERC20 Token BOB, is that, they plan to use 50% of the quarterly profits to buy back tokens and burn them. Therefore, lowering the amount of tokens in circulation and effectively increasing each token price. This gives it a strong long term investment potential. However, I am far from being able to give any investment advice nor a finacial advisor. This is strictly my opinion.
I will say this, I am part of the skilled trade work force and am actually excited to see how this will perform, especially once it comes to Canada. I'm not too sure what has happened in the trades industry over the past few years, but I myself see huge changes. Safety, which I strony believe in, has gotten out of control. It is actually becoming difficult to work efficiently and quite honestly, its starting to get to the point that it will probably start to cause injuries. Larger companies have begun to treat their workers with less respect, demeaning and almost a slave like mentality, this could be happening everywhere, but I strongly see it in my industry, especially in oil and gas work. There is a lot that I could say, but because of this, I can see more people trying to contract their services on their own so that they can regain some stature. A platform that highlights the truly skilled workers that deserve work, can use this platform to excel and provide for whatever that individual is working for. The lower skilled workers can work for the companies that pushed the truly skilled workers out. I myself plan to use this platform to promote myself, unless of course, I can go full time crypto.
I truly do hope this platform is successful and that it not only helps customers but even more so for the skilled trades.