Historical Backdrop
The 2008 Financial Crisis as the Catalyst
- Centralized System Failures: The 2008 crisis exposed deep flaws in traditional finance, where banks tightened credit access and engaged in predatory lending—leaving millions in foreclosure.
- Community-Driven Credit: In response, John Coates championed a method called “credit piggybacking,” enabling those with weaker credit to improve their scores by leveraging the positive credit profiles of community members. This intervention helped borrowers secure better mortgage rates and avoid foreclosure.
- Parallel Innovations: Around the same time, Bitcoin and blockchain emerged, sharing a philosophical alignment with Coates’ community-driven approach: people—not centralized gatekeepers—should hold financial power.
John Coates’ Early Innovations
- Credit Piggybacking on CNN: Coates gained recognition for his CNN appearance, discussing how community-based lending could help families avoid the worst outcomes of the crisis.
- Challenges from Institutions: Banks and credit agencies resisted these methods, eventually phasing out many community-centric credit benefits to maintain their hold on credit scoring.
John Coates: Inventor, Engineer, and Advocate
Multifaceted Engineering & Patent Portfolio
- LiFi & Interferometry: Coates holds patents in LiFi technology, interferometry, and UV germicidal irradiation (UVGI) systems.
- FAR-UV LiFi System (US11700058B2): Notably, he developed a system that merges photon and proton management for advanced wireless communication and sterilization.
AI and Decentralized Governance
- Melanie AI: Coates has been a core engineer for Melanie AI (Machine Enhanced Logic and Natural Intelligence Engine), integrating artificial intelligence with decentralized governance models to foster transparent, self-sustaining systems.
- Quanta X Technologies: Here, he blends quantum science, AI, and blockchain to create real-world applications that break down the traditional silos of these emerging fields.
Entrepreneurial Roots
- Aspen Ventures: Founded Aspen Limousine and Coates Tire and Auto in Aspen, Colorado.
- RFsafe.com: Best known as the founder of RF Safe, a pioneer in EMF protection products—such as anti-radiation phone cases and air-tube headsets—pushing for safer telecommunication standards and legislative reform.
Advocacy & Free Speech
- Section 704 of the Telecom Act: Coates opposes regulations that silence community health concerns around cell towers.
- LibertyUnites: Since 2001, Coates has maintained LibertyUnites as a tribute and free-speech platform for fallen soldiers and victims of terror, hosting over 10,000 tributes and tens of thousands of condolences.
The Evolution of Community-Driven Credit
From Traditional Credit Scores to Community Support
- Centralized Systems (FICO): Historically, creditworthiness was tied to Social Security numbers and controlled by centralized agencies.
- Community Credit Piggybacking: Coates advocated for adding authorized users with limited credit histories to established accounts, boosting scores and granting better financial options to underserved communities.
The Rise of Blockchain Credit Scoring
- Wallet-Based Credit Scores (WBSC): BestDealOn.com aims to eliminate reliance on centralized bureaus. Every transaction updates a user’s on-chain credit profile, creating:
- Trustless & Transparent Histories: Public, tamper-proof records of payment behavior.
- Decentralized Reputation System: The community, not a single corporation, determines creditworthiness.
A New Credit Economy on BestDealOn.com
- On-Chain Credibility: Sellers and buyers build verifiable reputations through successful transactions.
- Reduced Need for Escrow: Reputable users are trusted automatically, lowering fees and complexities.
- Borderless Financial Inclusion: Anyone worldwide can participate, unhindered by outdated FICO requirements.
BestDealOn.com: A Decentralized, Community-Driven Crypto Marketplace
Vision
To create a self-evolving marketplace where fees, rules, and dispute resolutions are community-determined, and reputation is established on-chain—removing the need for conventional intermediaries.
Core Features
- No Centralized Authority
- Governance resides with token holders who vote on policies, feature updates, and fee structures.
- Wallet-Based Credit Scoring (WBSC)
- Transactions themselves build or diminish user reputation, recorded on-chain as a Soulbound Token (SBT).
- Low & Transparent Fees
- A small (~1%) post-sale fee, shared by buyer and seller. High-reputation users can earn reduced fees.
- NFT-Based Advertising
- A First-Right-of-Refusal (FROR) model allows advertisers to own, trade, and renew ad placements via NFTs.
Marketplace Mechanics
Listing & Selling
- Crypto-Only Payments: Users list products or services in accepted cryptocurrencies.
- On-Chain Confirmation: Both parties confirm successful trades before they finalize on the blockchain and update each user’s credit score.
Transaction Fee Model
- 1% Post-Sale Fee: Automatically assessed and split between buyer and seller.
- Tiers & Incentives: Frequent successful transactions improve credit scores, leading to lower fees and better visibility.
Governance & Voting
- $GOVT Token: Community members stake governance tokens to propose and vote on platform changes (e.g., fee adjustments, dispute rules).
- Transparent Tally: Votes are recorded on-chain, making the process verifiable and censorship-resistant.
Credit Scoring (No Escrow)
- Soulbound Credit Tokens (SBTs): Non-transferable tokens reflect transaction history, disputes, and feedback.
- Incentivizing Good Behavior: Positive trades push the score higher, while unresolved disputes pull it down.
- Escrow-Free: Trusted users can transact directly, reducing overhead and complexity.
Token Architecture
$XGOVT (Governance Token)
- Proposal Power: Required to submit proposals and vote.
- Staking: Encourages active participation and commitment.
- Platform Development: A portion of fees or staking rewards fund ongoing improvements.
$XCRED (Credit & Transaction Token)
- On-Chain Credit: Reflects user reputation and transaction behavior.
- Fee Discounts: Higher $CRED-based credit scores unlock lower fees.
- Staking Incentives: Additional marketplace perks may be tied to staking $CRED.
$XADNFT (Advertising Token)
- Tokenized Ad Slots: Each NFT represents a digital piece of real estate for ads.
- Resale & Auctions: Advertisers can buy, sell, or renew advertising rights in an open marketplace.
- Community-Set Pricing: Governance token holders ($GOVT) determine ad-related policies.
Tokenized Advertising: The FROR NFT Model
Origins
- Early 2000s: Coates introduced a FROR ad marketplace on BestDealOn.com using a MySQL system, effectively treating ad placements like tradable “options.”
- Limitations: Although it worked, centralized database management and lack of programmable automation meant scalability issues.
Blockchain-Powered Ad Slots Today
- NFT-Based Ownership: Each ad slot is an NFT with embedded renewal rights, removing reliance on a centralized database.
- Market-Driven Pricing: Advertisers bid on prime ad spots; high-performing slots increase in value and can be resold.
- Transparency: Every bid, renewal, and transfer is on-chain, replacing black-box pricing models used by platforms like Google or Facebook.
Business Model & Monetization
Transaction Fees
-
- A ~1% post-sale fee shared between buyer and seller.
- Tiered rates incentivize good behavior (higher on-chain credit = lower fees).
NFT Advertising Sales
-
-
- Revenue from auctions and renewals of premium ad slots.
- Potential for secondary-market trading of ad NFTs.
-
Governance Token Appreciation
-
-
-
- As platform usage grows, demand for $GOVT (to vote, propose, and influence policy) may drive its value.
-
-
Roadmap & Execution
Phase 1: Governance Token Launch
-
- Deploy $GOVT.
- Set up community voting platforms (e.g., Snapshot).
- Distribute tokens to early contributors.
Phase 2: Marketplace MVP
-
- Launch minimal viable product with basic listings.
- Integrate cryptocurrency payments.
- Implement the 1% fee mechanism.
Phase 3: Credit Scoring & Dispute Resolution
-
- Introduce advanced on-chain credit scoring using Soulbound Tokens.
- Establish a community-driven dispute resolution process.
- Release the $CRED token.
Phase 4: Dynamic NFT Advertising
-
- Roll out the $ADNFT system for tokenized ad slots.
- Enable secondary trading and cross-chain interoperability.
Phase 5: Expansion & Institutional Partnerships
-
- Integrate logistics, AI automation, or fulfillment solutions for global reach.
- Continuously refine UX and platform features based on community feedback.
Investor Deck Highlights
Market Opportunity
- E-Commerce: A multi-trillion-dollar global market dominated by a few centralized platforms.
- DeFi Synergies: Blockchain-based commerce is an untapped growth area, bridging e-commerce with transparent, low-fee peer-to-peer transactions.
- Credit Inclusivity: Decentralized credit can help billions excluded by legacy systems (e.g., FICO).
Problem & Proposed Solution
- Problem: High fees, opaque governance, credit exclusivity (Amazon, eBay, etc.).
- Solution: Decentralized Marketplace with wallet-based credit scoring (WBSC), minimal fees, NFT-based ads, and transparent governance.
Competitive Differentiation
- Lower Fees: ~1% vs. up to 30–50% on centralized platforms.
- No Escrow Required: On-chain credit fosters direct trust.
- Community Governance: Users decide major policy changes.
- NFT Advertising: A new revenue mechanism benefiting both advertisers and the community.
Go-to-Market Strategy
- Phase 1: Community & Token Launch (build an engaged user base).
- Phase 2: MVP Rollout (onboard early adopters and crypto enthusiasts).
- Phase 3: Full Platform Integration (credit scoring, NFT ads, cross-chain compatibility).
- Phase 4: Partnerships & Scaling (with AI, logistics, and fulfillment services).
Investment Structure
- Funding Goal: To cover development, audits, liquidity, and global marketing.
- Token Allocation: A portion of $GOVT reserved for seed/angel investors with vesting schedules.
- Use of Funds:
- Development & Security Audits
- Market Expansion & Branding
- Liquidity Provision & Community Incentives
Closing Statement & Next Steps
- Call to Action: Join BestDealOn.com in revolutionizing e-commerce. Help scale a platform that replaces high fees and centralized oversight with a transparent, community-governed model.
- Vision: To outpace traditional giants by aligning incentives, reducing fees, and empowering participants to own and shape the marketplace.
About John Coates: A Lifetime of Innovation and Advocacy
- Early Life: Enrolled in Tidewater Community College’s engineering program at age 15, setting the stage for a career in pioneering technological solutions.
- RF Safe Founder: Spearheading the fight against electromagnetic radiation risks through first-to-market products (anti-radiation phone cases, air-tube headsets).
- Legislative Advocacy: Opposes Section 704 of the Telecom Act, advocating for local voices in cell tower placement decisions.
- LibertyUnites: Webmaster of a free-speech platform honoring fallen soldiers and victims of terror.
Coates’ journey—spanning electromagnetics, AI, decentralized finance, and consumer advocacy—exemplifies a commitment to empowering individuals with transparent, community-driven technologies.
Join the Movement
BestDealOn.com represents the next evolution of decentralized finance and commerce—a trustless, transparent platform where community members themselves decide policy, shape user credibility, and share in the platform’s success. By aligning user incentives and placing power back into the hands of buyers and sellers, BestDealOn.com has the potential to redefine global e-commerce.
Be a part of the financial revolution:
Where creditworthiness is earned on-chain, advertising is owned by the community, and the marketplace itself is truly governed by its users.
Website: BestDealOn.com
More on John Coates:
- RFsafe.com – Pioneering EMF protection solutions.
- LibertyUnites – A free-speech platform of remembrance and global discourse.
Final Remarks
BestDealOn.com integrates blockchain, AI, and decentralized governance into a holistic marketplace. With its emphasis on fair fees, on-chain reputations, tokenized advertising, and user-driven governance, it aspires to replace legacy e-commerce’s inefficiencies. By removing corporate middlemen and fostering transparent community decision-making, it offers a compelling vision for the future of commerce—built by the people, for the people.