At Covee, we take great pride in prioritizing a working product in the midst of the non-agile mindset we face in the current blockchain ecosystem.
A number of parallels exist between the current blockchain scene and the Internet bubble of the early 2000's. During the Dot-Com bubble, there was a lot of money thrown at projects that either never launched a product or addressed any real market need. The same can be said for a number of projects in the contemporary blockchain space; we are seeing a host of ventures releasing detailed documentation, technical roadmaps and architecture before a single line of code is written or developed. Covee is different, here’s why:
Covee has not gone through a public ICO, yet we’re already on the brink of launching a private Alpha (you’ll hear all about it in the coming weeks). Furthermore, rather than immediately targeting a massive constellation of organizations and firms to decentralize, we have chosen to start with a specific market: knowledge workers.
The Customer Journey
Let’s start with how a user would initially interact with the Covee platform. The main page you will be exposed to is our Project Marketplace, where you’ll see an overview of all the open projects along with details such as the roles needed and total client payout. Everything is laid out very simply, and it will only improve as we receive feedback from our upcoming Alpha testers.
You’ve probably noticed that there is a token balance at the top right of the window and are now wondering, what would the tokens be used for? Our native XCV tokens will allow our users to apply for projects via a staking procedure.
Our staking mechanism will ensure that all the team members are committed to a project and that every single member is confident in their ability to contribute and collaborate. Simply put, it makes sure that all workers have skin in the game.
Let us take a look at how that would work on the platform once you’ve found yourself a project that you are interested in. To demonstrate, we’ll apply for the Crypto Quant Finance Strategy project.
The project initiator — a firm or an individual — determines the estimated payout for all the separate roles, the different staking amounts and the expected work contribution from each participant.
After initial staking, it’s up to the project initiator to assign the role to you or not. If not, all the staked tokens are returned to you.
Another question you probably have in mind is how we ensure whether a worker’s actual contribution matches his/her expected contribution. You can learn more about our peer-to-peer review mechanisms here. We’ll also publish a more detailed and technical post on the built-in mechanisms soon, so stay tuned for that!
There is still a lot more to what our fantastic developers have built for Covee, but that will have to wait for another blog post.
But wait, how do I start a project?
Good question. After all, what’s a platform without projects? A project initiator — a client — starts off by defining the general information of a project. This is followed by the submission of the project timeline which is divided into an application phase and a project phase. Clients occupy an interesting role with Covee as they also have the ability to participate in the project as a knowledge worker themselves. In this way, both firms and individuals are empowered to create projects.
Once a project outline is complete, it’s time to set milestones and datasets. Project milestones operate as the basis for client review of a project’s progress and also inform accrual payouts to the knowledge workers. As a client you can set milestones for project preparation, ideation, working, evaluation, etc.
Our Principles
The two main principles of our #Buidl mindset is user experience and transparency.
While our platform is built on a complex technology, it does not mean that all of our users must wrestle with the intricacies of the blockchain. Our goal is to become a decentralized platform that is optimized, efficient and easy to engage with.
We want our users to have confidence with whatever they’re doing on our platform. This is what Matt Condon dubs an optimistic UI.
Developing a stellar platform requires immense planning and research, however in order to ensure sustainability, a platform must further exist in a state of flux; able to adapt and implement changes on a rolling basis. Just as peer-to-peer reviews are key for the functioning of our platform, community engagement is crucial for Covee in our efforts to develop the platform. Every knowledge worker, project initiator, investor and even passerby is very welcome to throw in as much feedback as they want for the betterment of Covee.
Along the roadmap of our product development, the team will consistently provide updates through our social media channels and newsletter, and quarterly updates through our Medium blog here. We look forward to hearing feedback from the community!
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