BizShake is the P2P sharing ecosystem on NEO blockchain through tokenization of real-world assets. Maybe first we should remember what sharing economy is: for thousands of years the use of assets are shared among people because some people owned the assets and some people needed to use those assets for a limited time. So it makes sense for both sides; one side earns an income from his/her underused asset and the other side doesn't need to buy that asset and only pay some small fee to use it for a limited time. Internet and use of big data made it so much easier for those sides to find each other. After all, a platform is essential for that economy to function. You have probably heard of Uber and Airbnb. Those are successful examples of modern sharing economy platforms.
Here, a question pops up in one's mind; if Uber belongs to sharing economy, then what about car rental firms like Avis or Hertz? They belong to the old model; B2C sharing. It means business to consumer. Here the consumer is using the asset that belongs directly to the platform. Services are centralized.
Platforms like Airbnb and Uber are not B2C companies because they do not own the assets. They just conduct P2P interactions. It means peer to peer by the way. So you want to rent your house and put it on Airbnb and I'm looking for a house and search for houses on Airbnb and see your house there. If I like it I can rent it. Airbnb manages the payment, disputes etc. That makes it costly since Airbnb is handling such things.
So what about BizShake? How do they define themselves? They say they do not belong to P2P sharing economy platform 1.0 but instead to P2P sharing economy platform 2.0. What is special about them? Blockchain! Here the blockchain will execute payments and transactions, making it much safer and easier. Bizshake will only charge a small fee for market access and business logic it provides to users.
I want to remind you that BizShake platform will be available on Web, Android, and iOS. Initially, it will be available in English and Chinese (Mandarin). According to their whitepaper, other languages will be added shortly after. Here is the alpha version if you want to test it out: https://alpha.bizshake.io
BizShake has two business models; SmartRent and SmartPawn. Let's take a closer look at these models:
SMARTRENT
As you can tell from the name, with smartrent one can lease his/her assets to other users for a limited period of time. The owner of the asset will list the asset on the platform specifying the details of the asset, like videos, pictures, location, available date ranges etc.
SMARTPAWN
With smartpawn, owner of an asset can get a short-term loan backed by that asset. Here again, the details of the asset must be filled in. The interest rate that he is willing to pay, the duration of the loan should also be stated.
Keeping a healthy platform is essential for such a platform's success. BizShake has ecosystem developments to make sure everything runs smoothly:
SmartDispute: Unfortunately disputes are a reality of sharing platforms. But BizShake has SmartDispute to solve these disputes. This system is decentralized and based on peer control. So other users will decide who is right about a dispute. That makes it fair and simple.
SmartCertify: This system is a precaution against fake or broken high-value assets. Owners of assets can get their assets certified within this system to prove the value of their assets.
SmartIdentify: Assets are certified with SmartCertify, and what about users? SmartIdentify system uses AI to calculate a user's credibility through data from BizShake dAPPs and external sources.
SmartAPI: More applications based on BizShake can be provided by other business owners thanks to this API system.
Sharing economy is here to stay. And making it safer, cheaper and more practical by using blockchain is a great idea. BizShake apparently studied its lesson properly and ready for showtime with bright solutions like SmartDispute.
BizShake ICO WEBSITE = https://bizshake.io
BizShake WHITEPAPER = https://bizshake.io/sites/default/files/BizShake_Whitepaper_1.2_ENG_2.pdf
Crypto Nobility is sponsored by https://www.coinbookmarkbank.com | All the useful cryptocurrency related links in one place.
My Bitcointalk profile = https://www.bitcointalk.org/index.php?action=profile;u=963827
My Bounty0x username = WeltSchmerz
My Youtube channel = https://www.youtube.com/channel/UCZX8LenEAibUlqNeQLf6nsg/videos
*Disclaimer: None of this information is intended to be financial advice. This article shows my personal opinion and I advise everyone to do their own research.
