It plans to first launch the Canyudo app in Hong Kong before a global rollout.
Canyudo is a multi-purpose app that offers four main features and services: a goods marketplace, a freelance marketplace, a task app, like Trello or Asana, and a global payments service. At product launch, Canyudo will be primarily aimed at the private sale (classifieds), temporary recruitment, and global remittance markets.
The platform allows users to advertise jobs, tasks, events, or items for sale with the option to make or take payments in cryptocurrency or conventional currencies. The app connects those with too little work and time to spare to those with a heavy workload and not enough time to complete it all, whether that’s a business, charity, or another individual.
The app leverages blockchain technology for improved transparency and payment efficiency, game design, and a simple, noise-free UX to cut through distraction and get enable users to get things done efficiently.
“Our design team learned their trade in the games industry, so we understand the motivating power of a well-devised game,” said Steve Biddick, founder and CEO of Canyudo.
“We are pleased to introduce the Canyudo app which stimulates pro-social behavior to fulfil one of our core aims – driving a resurgence in human cooperation.
“The app doesn’t just simply get things done; we enhance the ripple effects of good deeds through a pay-it-forward model using an in-app coin to make impact measurable.”
On Canyudo, users can create tasks which they can assign to any of their exciting contacts individually or to a pre-defined user group (mailing list). Users can also opt to broadcast the task to the network for other app users to search out.
Meanwhile, users looking for jobs, events or items for sale can specify a search radius. They may donate their time, skills, or money to charities or sell them on the open market.
Each user on Canyudo has a profile which they can update to display their skills, qualifications, and task categories that fit their work experience so they can get notified automatically when jobs posted to the network match their work profile.
A rating system allows users to score each other as tasks get completed. The app records metrics such as response time and reliability, helping users to evidence skills and experience for their digital CV.
On Canyudo, smart contracts process transfers of digital assets between entities when conditions agreed upon by the parties are fulfilled. Smart contracts generated through use of the app are run on the Ethereum (ERC20) platform.
Each time the app is used to send a payment or document a process via the execution of a smart contract, a fee is charged and a charitable contribution is made. App users can choose the charity they wish this money to be paid to. Canyudo says it will allocate one third of its revenues to charitable causes.
Founded in 2015, Canyudo completed its first round of equity funding in May 2016 on Seedrs where it raised £161,770 before kick-starting software development in February 2017. The startup is now running another Seedrs campaign that seeks to raise £160,000 to fund global expansion. An initial coin offering (ICO) is scheduled for early 2019.