WONO: The Token For The Sharing Economy

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The sharing economy when broken down is the idea that people have idle resources which can become valuable if put to use. Resources such as cars, houses, clothes, services, just about anything can be shared between parties in a sharing economy. The sharing economy affords individuals the opportunity of subscribing to services as a rental rather than buying them. Those who lend their resources in turn earn money. It’s no surprise that businesses developing around the idea of a sharing economy has continued to rise, taking into account the perceived and projected value of the economy.

Such businesses like Uber which offers ride-sharing service, Airbnb that offers home renting service and Upwork.com, a website for freelancers to utilize their skills and earn extra income. These businesses serve as an example of how the sharing economy works to benefit both the providers of services and the receivers. If you have an idle car lying around, you can offer it to be used as a cab and you earn money in return. Likewise those who need a ride will at the press of a button have the closest available ride waiting for them. The service goes on and on, these days people literally share about anything. These businesses have one thing in common, they serve as the bridge between resource owners and resource users, they act as the middlemen between these parties.

Wono Proposed Sharing Ecosystem

The mode of operation of these traditional peer to peer businesses is centralised which is not sustainable, there is need for a seemless peer to peer interaction between parties in a sharing economy without the influence of middlemen. And this is what Wono, a blockchain based peer to peer platform that allows people to share anything that is of value with other peers in the ecosystem intends to actualise. People can share anything from cars, to houses, services and so on all in one place. Wono serves as a one stop solution for the sharing economy whether you’re looking for a ride, or you need a freelancer for a gig, a house to rent, etc. The Wono platform eliminates the middlemen and introduces a direct peer to peer interaction based on the blockchain technology and a set of smart contracts which automates sharing processes. Users will no longer have to worry about concerns of trust, transparency, accountability or exorbitant fees since every transaction on the platform is recorded on the blockchain immutable layer, and replacing the middlemen with smart contracts also reduces transaction cost.

Token Details & ICO

The WONO token is the platform token of the Wono ecosystem. It is an ERC 20 Standard utility token based on the Ethereum Blockchain, it grants users access to all the services being offered on the Wono ecosystem. Payment for asset rent or services, platform fees, crowd deal insurance, and crowd deal arbitration are all part of the functions of the Wono token. The total token supply is pegged at 79,166,667 WONO out of which 47,500,000 WONO will be available for sale at the different stages of the tokensale. The tokensale is in the presale stage which whichc will end on the 3rd of September, 2018 thereafter the public sale will start. Further details concerning the tokensale and distribution can be found in the Whitepaper.

Conclusion

The sharing economy can’t get any future proof than what Wono has in proposal. Leveraging Blockchain technology and Interplanal File System will result in a secure, transparent, reliable, convinent, borderless ecosystem for the sharing economy.