PARSIQ becomes SaaS. fully decentralized

PARISQ, the first company to use the IQ protocol, has become a fully decentralized SAAS.

ability for companies to create their own business carals by issuing tokens is driving the FinTech industry as we know it.

Tokenomics, or the token economy behind these blockchain-based assets, are completely redefining the way companies raise funds and implement business carals.

However, this evolution has also resulted in complex regulatory, economic and technical challenges that can affect many since the adoption of token frameworks.

For example, projects offering existing tokens have weak utility behind their tokens. This generally leads to poor demand and purpose behind the token. Other than that, not all projects have adequate knowledge to create a strong token economy, which is vital for the long-term growth of the project.

Also, launching a token is tricky as most projects (blockchain-based or not) certainly don’t want their token to be classified as investment stocks. Fortunately, IQ Protocol, developed by PARSIQ, can solve all these problems.

IQ Protocol offers an innovative circular economy caral that allows projects, companies and organizations to issue and manage compatible tokens.

Explanation of the first SaaS cryptocurrency

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As the creators of the IQ protocol, the PARSIQ has devised a blockchain-independent solution to implement on-chain subscriptions in a flexible and cost-effective way.

All of this was done while preserving the most important workflows, such as cancellation / refund policies, different time considerations, consumption rates, discounts and more.

This was achieved by introducing a concept that uses PowerTokens. PowerTokens are not used as a means of payment, but rather as a time-deterministic “energy” generator.

Within IQ, energy plays a role in accounting for the service’s consumption unit (such as gas units in Ethereum).

PARSIQ serves as a platform for blockchain monitoring and interpretation: it enables companies and individuals to create custom Smart Triggers and adopt blockchain data streams in real time.

By solving the common problem of ‘unnecessary token’ cryptocurrencies, the company became the first company to transform the traditional subscription caral using the IQ protocol. To date, all PARSIQ users can use the platform and create monitoring solutions simply by holding PRQ tokens as a payment method.

IQ Protocol helps companies build a circular economy and take into account the interests of the main stakeholder groups: HODLers, service users and merchants. Under IQ, the new PARSIQ subscription caral works as follows:

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  • users of the platform, mainly companies, pay for the service through the possession of special PRQ tokens. Consumers have two options: buy the original tokens that have lifetime value or rent the PRQ tokens from the rental pool.

main idea here is that the original tokens are not released from the rental pool. Instead, the group mints an expired version of these tokens.

  • Lenders can loan their PRQ on the IQ protocol and start earning. If a person loans their PRQ to the group, they will be issued an Interest PRQ (iPRQ) as proof that they have placed the PRQ in the group. As the name suggests, the lender earns interest on your PRQ when the PARSIQ client borrows them from the pool.

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Subscription as a Service (SaaS) – Powered by IQ

PARSIQ leverage With the revolutionary IQ protocol, companies will now be able to seamlessly build SaaS blockchain carals, allowing companies in all industries to tokenize their product or service for on-chain consumption.

This is possible through IQ and the introduction of a concept known as lifetime value (LTV).

When a company tokenizes its offerings, each token is assigned an LTV, which gives the token holder the right to consume a defined amount of goods or services.

Such a concept allows you to put practically anything on the blockchain: from the content streaming business to the local market, a company can tokenize its product offerings and assign each issued token an LTV.

Using these as examples, content streamers can issue tokens that allow the token holder to consume one hour of content each day for the next 365 days.

local market could offer weekly delivery of essential items (fresh fruit, milk, bread), which would be delivered at the beginning of each week for 52 weeks.

possibilities are limited only by the way the company intends to tokenize its offerings. On the consumer side, individuals would simply buy the tokens.

By virtue of owning the token, the token holder would be the recipient of the value that has been defined for that token, during the life of that token.

Furthermore, consumers who do not wish to have tokens, but prefer to rent them, can do so by introducing a rental pool, made possible by the Protocol.

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As long as these tokens are held or leased, the consumer can enjoy the value attached to the token. In doing so, a blockchain subscription caral was born.

Through this approach, IQ enables companies to serve their existing audience, AND unlock new revenue streams. It does this by allowing companies to produce personalized offers tailored to a potential customer who is not yet ready to fully commit to a company’s product or service.

Additionally, crypto projects struggling with existing tokenomic structures can benefit from IQ. After initially fundraising, many projects struggle to find a use case for their tokens.

At best, a consumer can be incentivized to purchase the project token, just for the purpose of spending it to purchase a particular service.

In this caral, it makes little sense to go through this intermediate step if, in fact, the operation can be carried out entirely in fiat.

However, with the IQ protocol, these companies can tokenize their product offerings, incentivizing communities to hold project tokens for the life of the token, while enjoying the value that has been assigned to that token.

Additionally, token holders have the potential to earn money by depositing their shares in rental pools and acquiring interest payments.

Through IQ, a project can develop a circular economy, boost demand for its services and token, which ultimately benefits all those who believe in the supported project.

Free, transparent and open source

As an open source protocol, any project can use IQ to meet its needs. refore, companies can customize the solution to ensure adequate adaptation to their existing business carals.

Also, the implementation costs are manageable, limited to the costs of paying for the GAS.

Under this efficient and easy-to-adopt caral, PARSIQ is currently working with more than twenty companies in the implementation of the IQ protocol.

If you have any questions about how QI can be incorporated into your existing business caral, the PARSIQ team is ready to assist you with your questions.

Cryptocurrency projects that use the IQ protocol can:

Issue utility tokens that are not securities

  • system is designed in a transparent way so that the criteria of the values ​​do not apply to the tokens issued in the IQ protocol.
  • services integrated into the IQ protocol, such as the loan function and risk-free loan, are completely non-custodial.
  • Lenders can voluntarily provide capital liquidity to the protocol and control its tokens through trustless smart contracts.
  • Since volunteer lenders or borrowers use the service in their spare time, projects will not be liable for returns guaranteed by the loan pool.

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Make token issuance simple and secure

  • No need to think about how to implement complex tokenomics when issuing tokens because IQ Protocol already has industrial grade security frameworks built in
  • Take advantage of the ease of having a proper tokenomics ready for customization and deployment
  • This means that companies can focus on business logic and execution using the token without having to worry about the underlying technical complexities.

To learn more about how Parsiq is using its unique IQ protocol to power the world’s first Saas business, visit their main site. here.

Disclaimer

All information on our website is published in good faith and for general information purposes only. Any action taken by the reader on the information found on our website is strictly at your own risk.

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