The company Mean DAO, integrated into the Solana “blockchain” platform and dedicated to “monetary streaming”, will make it possible from this year on cryptocurrency users to manage any type of subscription “paying only for the time of use and measured to the second”.
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That way, a person won’t have to pay for Netflix or any other subscription service even if they don’t use it. You only pay for the time from when you enter streaming until you leave, Cuban-American Michel Triana, co-founder and executive director of Mean DAO, explained to Efe. Mean DAO, a DeFi (decentralized finance) company, the blockchain and cryptocurrency equivalent of a fintech company, startups in the finance sector in the digital model, was created a year ago but launched its first products in September 2021.
Triana tells Efe that they have already raised 8.5 million dollars from venture capital institutions, including SoftBank, and private investors. That allows them to continue advancing in a project that some specialized media have described as the “Money Spotify”. For now, Mean DAO’s products are all about payroll and remittances. Also to Cuba, but without interaction with Cuban banks, says Triana when Efe asks if these shipments can be made to her native country.
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WHY LEND MY COMPANY WITHOUT INTEREST?
In the field of payroll, Mean DAO offers the answer to a question that many workers ask themselves: why do I have to continue lending money with 0% interest to my company every month?” The question arises from the fact that wages are paid weekly or monthly, but they start to be generated from the first second an employee goes to work.
Mean DAO, which acts like a bank in this, allows you to create an account in which the worker can see in real time how the money generated by their work accumulates. also can have that money whenever you want without waiting for a certain day of payment. Triana says that for companies it also has advantages, since the making payroll is easier. Trained in computer science in Havana and based in the US since 2006, Triana has created several startups – the first in 2013 – in the crypto world before Mean DAO and worked as a coach and mentor for other entrepreneurs. .
In blockchain, the user downloads software and contributes to the network the percentage of the capacity of his computer that he himself decides to convert it into “a network node” and therefore receives a “fee” or quota each time an operation is carried out on that network.
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The closest thing in the traditional world would be a “cooperative,” he says in response to a question from Efe. By now, Mean DAO has more than 160,000 users, of which 20% are in Turkey, 10% in South Korea, 10% in China, 8% in Nigeria, and 5% in the United States.
Triana emphasizes that they want to attract more people through an outreach effort and acknowledges that ignorance and fear are the factors that work against blockchain. The company has as partners Eydel Rivero, Yansel Florian, Maylin Ramírez and Yamel Amador Fernández, all of them with experience in the world of cryptocurrencies.
EFE
