Product explanation
CandaoGroup is a unique feature that no other social network is capable of delivering. Thanks to CandaoGroup, ecosystem participants can put together a project team, task force group, expert board, community, or simply a group of friends.
Regardless of the purpose of creating such a group, they can have their own profiles, social identity paired with digital NFT-ID, and the group can even mint its own and your own group tokens.
The most important aspect is that everyone who is a part of the group can be verified by either his/her NFT ID or a history of previous activity recorded on CandaoChain.
CandaoGroups will be used to encourage the formation and growth of supporting "sub-societies," enhancing usability and the variety of interactions that can occur within the network. These societies will include, among other things,
  • Service providers' guilds—any service providers will be encouraged to join their forces as dedicated guild members (e.g., "Delivery Providers"). Guilds may establish their own rules and thresholds for membership (for example, reputation based on the number of "likes," total time on the market, level of profile authentication, and so on).
  • Candao will enter into strategic partnerships with the most renowned decentralised insurance providers to ensure that any service provider, buyer/seller, or consumer can benefit from token-based insurance. Service and goods buyers will be able to purchase additional insurance to cover any potential losses from inaccurate provision of services or delivery of inadequate or damaged goods. On the other hand, service providers and sellers will be able to purchase their own insurance policies to increase their credibility.
  • Social Arbiters -Most of the decentralised products aim at decentralising day-to-day transactions (i.e., provision of services or purchasing goods). In the event that one or both parties to the transaction are not happy with the way it went, they fail to recognise the fact that both parties need to provide a possibility for objective resolution of the dispute. It is probably one of the main blockers to further decentralisation of modern business models. Every member of the Candao ecosystem will be able to join Social Arbiters Guilds—please refer to the next section for more details.
  • Moderators - Social groups that will be open to public participation from day 1. Each feed published on the Candao platform can be "reported" as inappropriate. Such action will trigger the random selection of an odd number of moderators who will be asked to review the feed in the next 24 hours. Moderators will act similarly to arbiters and will vote on whether or not a certain feed is inappropriate or not. Based on the result of their vote, the content will be either removed or not. If moderators agree to keep the post, it cannot be subjected to a re-review unless the number of reports on the feed is twice as much as the previous one. In that case, the moderator selection process is triggered again, and the number of moderators selected as arbiters is set as the next odd number. Please see the table below for better understanding:
Times single feed has been reported as inappropriate
Moderators selected for review
Inactive moderators will be replaced through supplementary draw and punished by temporary removal from the social group.
Pic. 12 - CandaoGroups
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