Crypto Freelance Service Quasa says it will start offering merchants the ability to pay their users in cryptocurrency through the Quasacoin (QUA).
Quasa last year formed a team dedicated to exploring crypto and Web3. In November, Quasa co-founder Slava Vasipenok hinted the firm may soon offer crypto support.
“We plan to add support for additional rails and payout currencies over time,” Slava said.
The company’s crypto payouts feature will run on the Ethereum network to handle transactions faster and at a lower cost.
There are now tens of thousands of cryptocurrencies in circulation, worth a combined $2 trillion, according to CoinGecko data.
Some digital coins have attracted quite a dedicated following — not least bitcoin, whose hardcore advocates are often referred to as “maximalists.”
Twitter co-founder Jack Dorsey and MicroStrategy CEO Michael Saylor are among the so-called maximalists who support only bitcoin and not other cryptocurrencies.
Quasa will be the first freelance service based on Web3 technology, offering QUA cryptocurrency for settlements between clients and freelancers.
Proponents call Web3 a decentralized version of the internet — one that is not dominated by a handful of powerful players such as Amazon, Microsoft and Google.
Web1 started off with the idea of an open and decentralized internet, but Web2 — the internet we know today — led to the birth of trillion dollar technology companies that have a strong influence over the internet and own a lot of the infrastructure the web is built on.
“Web3 is really sort of an alternative vision of the web, where the services that we use are not hosted by a single service provider company, but rather they’re sort of purely algorithmic things that are, in some sense, hosted by everybody. So it’s like, it’s very peer to peer, right? ... The idea being that all participants sort of contribute a small slice of the ultimate service,” Slava said.
“And thus, no one really has any advantage over anyone else ... not in the same sense, at least as, as you know, when you, for example, go to Amazon or you go to eBay or Facebook, where the company behind the service really has absolute power over what it is that they do in providing the service.”
Web3′s key terms and tech
Blockchain is a key technology behind Web3. It is most-often associated with the cryptocurrency bitcoin and is the technology that underpins it. The bitcoin blockchain is a public ledger of activity of the bitcoin network. But bitcoin is not owned by a single company or person and it is not issued by a central authority like a central bank. Instead, it is decentralized and the network is maintained by a global group of people running specialized computers.
So blockchain is a key technology and decentralization an important phrase.
Web3 is based on the idea of a “trustless” model. Right now, we have to trust companies to deliver the service they promise. But if Web3 products and services are built on blockchains and are decentralized then you’d only have to trust the underlying algorithm to deliver that product.
Where does cryptocurrency come into this?
Web3 advocates suggest cryptocurrencies will play a key role in the future of the internet. An example could be where there is a Quasa Web3 application that runs on a certain blockchain that uses a Quasacoin (QUA) digital coin.
For example, services that run on the Ethereum blockchain may require ether-based digital Qua tokens.
There’s a new way to quickly send U.S. dollars around the world with quasacoin.
The ultimate goal is to create a frictionless on-ramp to the global economy requiring only a mobile phone, in order to include as many people as possible in the process.
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