Anyone
that has hired a contractor in recent years for home repairs has faced three
problems: false information due to review fraud, hidden costs due to
advertising fees, and inflated prices due to lack of pricing transparency.
These problems trick consumers into making poor decisions and wasting money.
Bob’s
Repair is the solution. Bob’s Repair is bringing trust and fair pricing back to
consumers by launching a decentralized marketplace built upon blockchain
technology that connects
contractors
directly to consumers.
Bob’s Repair Solution: Trusted Contracts, Reviews & Pricing
Transparency
To defeat review
fraud, hidden costs due to advertising fees, and inflated prices due to lack of
pricing transparency, Bob’s Repair will build the Bob Application. The Bob
application is a platform that will focus on
- eliminating review fraud by
ensuring that reviews are real and tied to actual transactions,
- eliminating intermediaries such
as Google Ads, Homeadvisor and Angie's List which cost contractors money
that is later on charged to the customer, and
- allowing people to find a
contractor based on how much he or she previously charged for a similar
repair job.
Bob’s Repair will also
provide a smart-contract escrow service to ensure that all parties are
protected in a home repair transaction. Bob's Repair will build the Bob
Application on the STEEM blockchain. The Bob Application will consist of a
sophisticated iOS, Android, and web application. The business logic of this
platform will be explained in the following subsections.
Solutions
- Review
Fraud - The Bob Application will be built on the STEEM blockchain due to
its three second transaction time and no transaction costs. The Bob
Application will store all financial transactions that take place on Bob’s
Repair on the blockchain. Then, when both sides of a transaction -
consumer and contractor - leave a review, Bob’s Repair will link that
review to the actual financial transaction. By linking reviews with actual
financial transactions, consumers can trust that the review is real and
unaltered.
- Disintermediating
the Industry - The Bob Application will not support any type of
advertising by contractors. As a result, contractors will not pass on
advertising costs to consumers. Contractors cannot buy visibility on Bob’s
Repair through advertising. Rather, due to the functions of upvoting,
flagging posts, and user reputation on the STEEM blockchain visibility is
governed by merit.
- Transparent
Pricing - The Bob Application will have transparent pricing. Each review
will provide the cost of the service broken into the material and labor
costs. Consumers will be able to easily search reviews to determine the
actual material and labor costs for a certain service for transactions
that had already happened. This transparency will drive down prices and
fight inflated costs.
- Escrow
Service - Bob’s Repair will provide an escrow service powered by smart
contracts to ensure that all parties are protected in a home repair
transaction. Consumers and contractors are traditionally not protected
against the other party failing to fulfill the requirements of their home
repair agreement, intentionally or unintentionally. The escrow service is
composed of two main parts: the Bob’s payment website & API and the
smart contract for escrow. The website works as the front end for
customers and workers and as a storage medium for documents (job
agreements, reviews, etc.) to be referenced from the Blockchain. The
escrow smart contract is used to manage the flow of money between
customers and workers and also to store links and hashes of job agreements
and reviews so that they can not be changed later.
The Plan
To
maintain revenue and growth, Bob’s Repair will follow the modern trend in
revenue models. Bob’s Repair will not have membership fees, sign-up costs, or
transaction fees. Bob’s Repair will earn revenue by generating money through
the STEEM blockchain, escrow services, and providing targeted beneficial
third-party services to contractors and consumers.
Model
- STEEM Blockchain. Use of the STEEM blockchain will be
directly incorporated with Bob’s Repair, as explained in the STEEM
blockchain white paper.
- Escrow Services. For transactions where the parties desire
to use an escrow service, a 1.5 percent service fee from the funds is to
be held in escrow to pay for transactions costs and other fees. For escrow
services, Bob’s Repair will leverage blockchain technology to ensure that
project milestones, reviews, and associated data are stored in
tamper-proof format.
- Third-Party Services. To provide further benefits to
contractors and consumers, Bob’s Repair will provide targeted loans,
insurance products, and decentralized financial products and services for
both contractors and consumers
Growth Strategy
Bob’s
Repair plans to recruit contractors from the top 100 US local and regional
markets before pursuing international growth. To spread the word, Bob’s Repair
plans to utilize the 50,000 person customer base from the STWP, the
cryptocurrency community, and social media.
A
sample of 15 cities taken from Bob’s Repair marketing campaign documents that
outlines future marketing campaign directives.
1
Bethesda, MD (pop. 60,858) $149,932.00
2
Sammamish, WA (pop. 51,229) $143,965.00
3
San Ramon, CA (pop. 75,332) $131,309.00
4
Cupertino, CA (pop. 60,668) $130,418.00
5
Greenwich, CT (pop. 61,171) $124,651.00
6
Southeast Marin, CA (pop. 51,775) $123,151.00
7
Pleasanton, CA (pop. 77,682) $121,622.00
8
Palo Alto, CA (pop. 66,955) $121,074.00
9
Flower Mound, TX (pop. 69,650) $116,898.00
10
Newton, MA (pop. 88,287) $116,612.00
11
Ellicott City, MD (pop. 65,834) $116,106.00
12
Dublin, CA (pop. 54,695) $115,694.00
13
The Woodlands, TX (pop. 93,847) $114,608.00
14
Frisco, TX (pop. 145,035) $109,956.00
15
Issaquah Plateau, WA (pop. 53,651) $109,889.00
The Token Sale
Bob’s
Repair Development Association, Ltd., will conduct the BOB token sale and issue
BOB Tokens. The BOB token sale will use smart contracts. A BOB Token is an
ERC20 token. The BOB token sale will consist of two rounds: Pre-Sale and Main
Token Sale. After both rounds are finished, the BOB Token will be published on
the Ethereum mainnet.
ERC20 Token
Name
: BOB Token
Symbol
: BOB
Decimals
: 18
BOB Token Sale
To
participate in the BOB Token Sale, purchasers must register on the Bob’s Repair
website ( www.bobsrepair.com ), next
- complete
a Know your customer (KYC) form,
- complete
an Anti-Money Laundering (AML) form, and
- provide
the ETH address the purchasers want the BOB Tokens sent to.
After
completing these steps, Bob’s Repair will provide the purchaser with addresses
where they can send cryptocurrencies (BTC, ETH, LTC, DASH) or fiat money.
Token price
- 1 ETH = 6000 BOB Tokens
- Deposits in non-ETH currencies
will be converted by the rate at the time of deposit according to the
Kraken exchange.
- Pre-Sale Bonuses:
0 - 2000 ETH
collected: 30% bonus
2000 - 3000 ETH
collected: 25% bonus
3000 - 4000 ETH
collected: 23% bonus
4500 - 6000 ETH
collected: 20% bonus
- Main Sale Bonuses (depends on
purchase amount):
If between April 4 and
April 9 (GMT)
·
100 ETH or more - 20% bonus
·
10 - 100 ETH - 16.5% bonus
·
0 - 10 ETH - 14% bonus
If between April 10
and April 16 (GMT)
·
100 ETH or more - 15% bonus
·
10 - 100 ETH - 11.5% bonus
·
Less than 10 ETH - 6.5% bonus
If between April 17
and April 23 (GMT)
·
100 ETH or more - 10% bonus
·
10 - 100 ETH - 7.5% bonus
·
Less than 10 ETH - 5% bonus
If between April 24
and April 30 : All contributions - 0% bonus
Pre-sale
start: 04 Jan 2018
Pre-sale
end: 04 Feb 2018 or after collecting Pre-sale hard cap
Main
sale start: 04 Apr 2018
Main
sale end: 04 May 2018 or after collecting Main Sale hard cap
After
the Pre-Sale and Main sale end, tokens will be distributed:
●
50 percent of outstanding BOB Tokens - Purchasers (Pre-sale and Main Sale)
●
20 percent of outstanding BOB Tokens - Management Team (vested over 18 months)
●
10 percent of outstanding BOB Tokens - Legal
●
20 percent of outstanding BOB Tokens - Reserve
Tokenonomics
The
BOB token is a utility token that allows users to access and use a network of
skilled trade workers as well as a smart contract based escrow service for home
repair, new construction and other service jobs. Every action a contractor or
consumer takes in the Bob’s Repair ecosystem utilizes BOB tokens. BOB is the
fuel that makes the Bob’s Repair ecosystem thrive. At the center of Bob’s, and
at the core of every job, lies an ethereum-based smart contract. Information
about every job that goes through the Bob's Repair platform is published to the
distributed ledger (blockchain), providing users with a way to hire a worker
with trust, pricing certainty and data immutability.
