1. EXECUTIVE SUMMARY
As cryptocurrency is reaching mass adoption, paying for products and services with digital assets will become mainstream. Fiat currency is currently the accepted mode of payment for products and services, However, the rise of digital assets will eventually be adopted as either an additional payment method or primary payment method. Thus merging Digital Dollar Token with Cryptogigs Platforms made absolute sense. With the Digital Dollar Token, people will be able to pay for products or services using digital assets.
Our long-term vision includes giving people the ability to use their digital assets to pay for products and services. Being able to utilize the digital assets in the market today for products and services has the potential to transform the world.
In order to accelerate Digital Dollar Network Inc.'s vision of providing ubiquitous access to products and services using digital assets, we would like to introduce the Digital Dollar Token or “eDOL”. The purpose of this whitepaper is to discuss how Digital Dollar Token will merge with Cryptogigs International Inc.'s Cryptogigs Platforms, where digital assets will be used as a means of payment for products and services.
1.1 CRYPTOCURRENCY MARKET
As of December 7, 2021, the global cryptocurrency market capitalization stands between $2.30 - $2.42 trillion in value ¹. While cryptocurrencies have not been widely adopted for use in paying for products and services, Digital Dollar Network, Inc. believes that there is considerable potential for the increased ability to use digital assets to pay for products and services across the globe.
Digital Dollar Network, Inc. sees the appetite for and usefulness of the new technology embedded in the newly invented Digital Dollar Token to pay for products and services as significant and timely.
1.2 THE PRODUCT - THE DIGITAL DOLLAR TOKEN
Digital Dollar Network, Inc. introduces the Digital Dollar token, built on the Ethereum blockchain. Digital Dollar token serves only as a utility token within thecryptogigs.com, thedigitaldollarcoin.com, and other platforms to be added in the future (hereinafter the "Digital Dollar Network Ecosystem").
1.3 THE PRODUCT - CRYPTOGIGS PLATFORMS
Cryptogigs International, Inc. has acquired the freelance marketplace portal thecryptogigs.com (hereinafter "Cryptogigs Platform"), where Service Seekers can hire Service Providers and pay for the services using cyptocurrency or digital asset.
1.4 MERGING THE DIGITAL DOLLAR TOKEN WITH CRYPTOGIGS PLATFORMS
Alliances are defined as “voluntary arrangements between firms involving exchange, sharing, or co-development of products, technologies, or services” ². Although each firm in a joint venture remains as a distinct legal entity, the firms will often jointly integrate substantial aspects of their capabilities. The joint venture between Digital Dollar Network, Inc. and Cryptogigs International, Inc. will involve a substantial investment by both firms to integrate the technological capabilities of the two firms.
² (Gulati 1998) (https://deepblue.lib.umich.edu/bitstream/handle/2027.42/64702/atafti_1.pdf?sequence=1&isAllowed=y)
Digital Dollar Network, Inc. and Cryptogigs International, Inc. will collaborate together to merge their technologies. Digital Dollar Token will be one of the main digital assets used as a form of payment on the Cryptogigs Platforms.
2. CRYPTOGIGS PLATFORMS
2.1 CRYPTOGIGS NON-BLOCKCHAIN PLATFORM
Cryptogigs Non-Blockchain Platform is an online freelance marketplace where Buyers of goods or services can connect with Sellers and vice-versa. The online freelance marketplace will match Buyers and Sellers and facilitate the exchange of information, goods, services, and payments associated with the transactions. Digital assets will be used as a means of payment for goods and/or services.
2.1.1 CRYPTOGIGS NON-BLOCKCHAIN PLATFORM FEATURES
Cryptogigs platform connects Service Seekers and Service Providers from across the globe. The platform provides a wide range of categories, from accounting to construction to customer service and web design. The platform enables Users to chat in real-time. Service Seekers can live chat with their Service Providers to ask questions, share feedback and get constant updates on the progress of their work.
Customers can pay safely and securely. Customers can pay in digital asset for goods and/or services. Digital Dollar Token (eDOL) will be one of the primary tokens as an acceptable form of payment. Customers have the option to pay in full or pay in milestones. In milestones, Service Seeker can release payments when he or she is satisfied with the work.
2.1.1 (a) SERVICE SEEKERS
Through the Cryptogigs Platform, a prospective Service Seeker can fill out a service request form and wait for bids from Service Providers for an advertised job. For Service Seekers, simply post a job or project for what you need done and receive competitive bids from Service Providers. Compare proposals and select the best one. Award your job or project and your Service Provider starts work.
Service Seekers will be able search Service Providers based on job category. Service Seekers can also browse Service Provider profiles. Service Seekers will also be able to rate Service Providers. When a job or project is completed, Service Seeker is able to rate the Service Provider and likewise, the Service Provider can rate their interaction with the Service Seeker. This provides a trusted rating for each Service provider and Service Seeker. The rating that they receive directly influences the algorithm for calculating the value of a user, which is referred to as ‘price on market’. The higher the ‘price on market’ of a user is, the more likely they are to get more work.
2.1.1 (b) SERVICE PROVIDERS
To get started as a Service Provider, a User begins by creating a profile. User must ensure that his or her profile includes details about self, expertise, and work experience. Keep in mind that Service Seekers will decide whether you’re qualified by scanning through your profile whenever you bid for jobs or pitch a project.
Service Providers will be able to advertise themselves and post the services they provide. Through the Cryptogigs Platform, a prospective Service Provider can fill out a Service Provider form and wait to be contacted by Service Seekers and/or find jobs or submit bids for advertised jobs.
Service Providers will also be able to search through services sought by Service Seekers.
2.1.1 (c) USER CAN BE BOTH
Any user can be both a Service Seeker and a Service Provider.
2.1.2 (a) FIXED PRICE CONTRACT.
Fixed price contract entails estimation of the particular job and amount of work to be done, based on Service Seeker requirements. Depending on the amount of work, the Service Provider calculates hours required to complete all the tasks and gives Service Seeker price for the job. For the work, the price is final and unchangeable.
2.1.2 (b) TIME & MATERIAL CONTRACT.
Service Seeker pays for actual hours spent on the job and for the completed amount of work. Service Seeker and Service Provider negotiate rate for the job. Payments are interval either: hourly, daily, weekly, monthly, etc.
2.1.2 (c) MILESTONE CONTRACT.
Milestone contract includes regular payments for accomplished milestones. Service Seeker pays, at fixed points, when the required tasks completed. Payment is determined by time spent on job progress and amount of work. Service Seeker pays for actual work done.
2.2 CRYPTOGIGS BLOCKCHAIN PLATFORM
Cryptogigs Blockchain Platform has the same features as the Non-Blockchain platform but will be blockchain technology based. Blockchain is a peer-to-peer decentralized distributed ledger technology that makes the records of any digital asset transparent and unchangeable and works without involving any third-party intermediary.
2.3 CRYPTOGIGS DECENTRALIZED APP
Cryptogigs Decentralized App version with the same features as the Blockchain platform.
2.4 CRYPTOGIGS ANDROID & IOS APP
Cryptogigs Android & iOS App app versions with the same features as the Non-Blockchain platform.
3. CRYPTOGIGS PLATFORMS - SERVICES PLATFORM OF THE FUTURE
3.1 THE DIGITAL DOLLAR NETWORK ECOSYSTEM DIFFERENCE
The collaboration between Digital Dollar Network, Inc. and Cryptogigs International, Inc. will connect Service Seekers with Service Providers from all over the world through the Cryptogigs Platforms. The platforms are designed to fundamentally change the way that Service Seekers and Service Providers conduct transactions. The platforms are an experiment designed to combine the best features of digital assets and paying for products and services.
3.2 HOW THE DIGITAL DOLLAR NETWORK ECOSYSTEM FITS CUSTOMER NEEDS
Digital Dollar Network Ecosystem wishes to meet the expectations of its customer base. In acquiring digital assets, Users expect to be able to use them in paying for products and services. By merging the Digital Dollar Token with Cryptogigs Platforms, Digital Dollar Network Inc. and Cryptogigs International, Inc. have developed what it believes to be an innovative way of acquiring and paying for services, thus taking user experience at another level.
As part of Digital Dollar Network Inc.'s collaboration with Cryptogigs International, Inc. and planned expansion of its suite of products and services, Digital Dollar Network, Inc. sees its new Digital Dollar Token product as a potentially attractive fit for digital asset owners/users.
4. BENEFITS TO DIGITAL DOLLAR TOKEN HOLDERS
4.1 PAYING FOR SERVICES
The Digital Dollar Tokens will be utilized on the Cryptogigs Platforms, where users can pay for products and/or services.
4.2 WORLDWIDE ACCESS TO CRYPTOGIGS PLATFORMS
Users from all over the world can use the Cryptogigs Platforms. Users will be able to hire services not just from within their local area but anywhere in the world.
Service Seekers may be able to get competitive bids for services since it will have worldwide access to Service Providers.
5. DIGITAL DOLLAR TOKEN
5.1 ERC-20 TOKEN - SIMPLE & SECURE. The Digital Dollar token is an Ethereum token following the ERC20 protocol. Created in May 2021, our token contract is available to view here https://etherscan.io/address/0xb76426b795bc1e1bf89b5d1f087e741f22660003#code and is describe in our token sale terms here: Digital Dollar Token Purchase Agreement.
5.2 TOKEN SALE
The Digital Dollar tokens will be issued on the Ethereum network. Ethereum is an open-source project which allows creation of smart contracts and provides users with a secure and fast transaction system.
5.2.1 SALE PERIOD.
Sale period will start at 08:00 PM on May 28, 2022 (PST+1). Within this period, Buyers will have the opportunity to purchase Digital Dollar Token at the sale price of $0.10 USD. The Digital Dollar Tokens can be purchased at our website https://thedigitaldollarcoin.com/ and in the future at Authorized Third Party Exchanges and on the open market.
5.2.2 SALE OF TOKENS.
2+ Billion Digital Dollar Tokens will be distributed and sold at our website https://thedigitaldollarcoin.com/. The sale of more Digital Dollar tokens at Authorized Third Party Exchanges will soon follow. The names of Authorized Third Party Exchanges will be listed on our website. Please check back for any updates.
5.2.3 WALLET ADDRESS.
When purchasing Digital Dollar Tokens, Buyer shall provide either a Metamask or MyEtherWallet address where you would like the Digital Dollar Tokens deposited. Buyer shall not use a Third Party Exchange wallet address.
5.2.4 TRADING OF TOKENS.
The trading of tokens is not available now. In the future, Digital Dollar Network, Inc. will promote and add Digital Dollar Tokens to as many Third Party Cryptocurrency Exchanges as possible.
5.2.5 RISK MANAGEMENT.
Any funds waiting to be deployed to the market will be held in a secure multi signature vaults.
5.3 OPERATIONAL RESERVES.
Digital Dollar Network, Inc. will take 25% of all Digital Dollar Tokens created at this address: 0xb76426b795bc1e1bf89b5d1f087e741f22660003 and hold it in a multi signature vault (the “Digital Dollar Token Vault”).
6. NEWS & UPDATES
To keep in touch with its customer base, Digital Dollar Network, Inc. plans to publish regular communications on the Digital Dollar Network website https://thedigitaldollarcoin.com describing ongoing company activities, new digital assets that may be used on the Digital Dollar Network Ecosystem, and an overview of future initiatives.
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