Boson Protocol: The universal commerce layer for Web3 Artwork

The DeFi Download

“The DeFi Download” with Piers Ridyard, CEO of Radix DLT. Join the leaders of the Decentralised Finance industry as they discuss all things DeFi: Its workings, user acquisition and go-to-market strategies while simultaneously re-inventing one of the world’s most important industries.

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The DeFi Download

Boson Protocol: The universal commerce layer for Web3

December 22, 2023 • Radix DLT

Summary

The Boson Protocol is a Web3 decentralized commerce layer that allows anyone to tokenize and exchange any physical thing as an NFT. Currently deployed on Ethereum and Polygon, they have recently signed a strategic partnership with WooCommerce, WordPress's eCommerce arm.

Justin's journey into the DeFi ecosystem began with him wondering what happens when you transition from paper to digital to blockchain, what digitized physical assets look like on a blockchain, and what properties they have. He discusses his experiences revolutionizing digital transformation at Priority Pass while studying for a master's degree in digital innovation, digitizing physical products that significantly increased turnover, combining his interests in the physics of business and the blockchain, and developing the Boson Protocol.

Key takeaways

Platform Dilemma: Piers and Justin delve into the complexities of platforms like Amazon, and they question whether they truly benefit consumers or create walled gardens.
Boson's Mission: Justin analyses how Boson removes the counterparty risk and builds an optimistic fair exchange protocol, solving two fundamental challenges – the fair exchange problem and the physical asset oracle problem.
Techno-Legal Innovation: Justin describes the part of Boson's core innovation that allows the prescription of elements of variability.
Configurability: Justin unveils how the Boson Protocol is designed for configurability, serving as a bridge between WooCommerce and the world of Web3.

Chapters

00:00 - Introduction
01:11 - Justin's background
03:45 - The specific problems Boson Protocol addresses
07:42 - Solving the problem of discovery
12:19 - Efficiently matching buyers and sellers
15:41 - Trust-minimizing representation of physical assets on the blockchain
25:36 - Escrow, dispute resolution process, and game-theory-based incentives
27:56 - Boson's partnership with WooCommerce
34:31 - WooCommerce's Priorities
38:06 - Addressing the capital inefficiency in escrow
41:45 - More About Boson

Further resources

Website: bosonprotocol.io
Twitter: @BosonProtocol