How This DeFi Project Could Connect The Real World To Smart Contracts
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The project known as Boson Protocol is looking to connect the real world of physical commerce into smart contracts and has recently announced a successful seed round earlier this week of $350,000.
The project is going to create the building blocks for next-generation dCommerce applications which will help provide a way to redeem blockchain tokens into their real world physical counterparts.
Led by Outlier ventures, the project receives an oversubscribed investment round with the funding primarily going to be used for operational costs and building a working test pilot according to the company.
The sound of the project, Justin Banon has said that the purpose of the project is to enable decentralised commerce with the least amount of arbitration. Even made a comparison to a decentralised platform for physical assets.
The founder further said:
“Mediation, arbitration and reversal are automated in a dynamic game where incentive rewards decrease the need for human arbitration over time, allowing for progressive decentralization.”
Boson Protocol falls outside the traditional focus on financial markets seen in DeFi. When asked if it could be used as a DeFi bridge to centralized finance platforms, Banon replied that “this is potentially
The protocol is somewhat outside of the traditional focus on Trent financial markets which is seen in decentralised finance. The CEO has said that when it comes to using ethereum as a bridge to centralised financial platforms, it could be potentially “one of the many use cases where Boson could be useful, but this is not Boson’s primary purpose.”
But he went on to highlight the most crucial thing about the project:
“Boson’s most important bridging function is connecting the physical world with DeFi, allowing users to purchase physical goods and services directly via a smart contract, in an entirely permissionless way.”