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PRELIMINARY

The sharing economy can also be called collaborative consumption or peer-to-peer based sharing which highlights the ability and preference of individuals to rent asset(s)set s rather than buy and own them. An important aspect of the sharing economy is that it facilitates individuals to monetize assets that are not being fully utilized. BIZSHAKE is aimed at enhancing a sharing economy by developing a complete decentralized Peer-to-Peer(P2P) sharing ecosystem that is founded on NEO blockchain technology, thereby facilitating individuals that are users of BIZSHAKE's platform or network to monetize their assets or resources by means of renting and pawning, while reducing the costs incurred by middlemen. The quintessence of BIZSHAKE adopting a decentralized, innovative business model is understood by the capability to tokenize high-value assets or resources on the Blockchain, the transparency of user profiling via digital identity, and also security offered by an automated dispute system which is regulated under peer control.

INTRODUCING BIZSHAKE

BIZSHAKE is a Peer-to-Peer (P2P) sharing ecosystem, which makes it the first decentralized P2P renting and pawning ecosystem with a development team that has the vision to create an exclusive ecosystem of decentralized applications that permits users of the BIZSHAKE platform to share their personal assets, taking full advantage of the value engendered by their use and enhancing asset distribution globally. BIZSHAKE encourages every individual globally to offer goods and services over a decentralized network. take look at the video below:

THE FUNCTIONALITY OF BIZSHAKE RENTING & PAWNING PLATFORM

The main purpose of the BIZSHAKE's platform comprises of the SmartRent and the SmartPaw. The functionality does not exclude the BIZSHAKE Dispute Resolution which stands between the two parties having dealings in case there arise any damage or loss of the asset(s).

★ SmartRent: The SmartRent permits all BIZSHAKE's users who renting out asset(s) to rent out assets to other users of the BIZSHAKE's platform for a particular period of time. The SmartRent works in a way that a user can list an asset(s) on the BIZSHAKE's SmartRent system and tag a rental fee on it, upload the photograph of the asset(s) to be listed on the platform, and also includes any vital details about the asset(s) to give a clue about what he or she is renting out, the geographical area of the asset(s) and the amount of deposit to be locked by the blockchain. The rental rate of the asset(s) can be set either daily, weekly or monthly all depends on the owner. Remember that the time limit on the rental period is set by the smart contract integrated with the system.

★ SmartPawn: The SmartPawn allows the pawner which is the user to acquire a short-term loan that is backed by the value of an asset.

★ BIZSHAKE Dispute Resolution: BizShake platform also includes a dispute resolution system that the mechanism is based on three core stages:

In the first stage, the user who raised up the dispute can decide on one of the reasons why the issue was brought to book, and ask for the corresponding penalty from the other party whom will be notified. The other user can decide to accept or make a different offer within the time limit set by the BIZSHAKE smart contract.
In the second stage, if there were no unanimity between both parties in two rounds of offer and counter-offer, the individual user can intensify the issue into a Dispute. This will warrant the mutual parties to produce all required documents to create a Case File within the time limit executed by the smart contract which is then dispatched to a Panel of Arbiters (five users at the highest credibility level who are selected randomly by the smart contract) for assessment.
The third stage is the smart contract that allocates the reparation decided by the arbiters from the deposit locked in the lessee's wallet to the lessor, then unlock the remaining deposit.

ADVANTAGES OF USING BIZSHAKE'S PLATFORM

★ BIZSHAKE will charge a transaction fee of 5% or lower which includes all costs connected to the use of the BIZSHAKE application.
★ The platform is a decentralized P2P sharing ecosystem integrated with NEO blockchain technology.
★ Transactions are faster (10,000 TPS) compared to other platforms that utilize the Ethereum blockchain technology (15 TPS).
★ BIZSHAKE can be accessed on multiple platforms such as desktop, mobile, and tablets.
★ BIZSHAKE platform is a user-friendly platform that supports multi-languages.

BIZSHAKE APPLICATIONS

The BIZSHAKE platform will be accessible via the use of mobile applications that will be readily downloadable on iOS and Android devices. Users can as well be able to purchase it over a web (desktops) platform. The BIZSHAKE's application has various features such as:

★ SmartRent: allows BIZSHAKE platform users to rent listed asset by paying a certain deposit to rent asset (s) for a limited time frame via the SmartRent system.
★ SmartPawn: allows the BIZSHAKE platform users to pawn asset (s) in exchange for an interim loan.
★ SmartCertify: This is an asset verification and certification system that work with Certifier Users that will certify the authenticity of a given asset as previously detailed by the asset owner.
★ BIZSHAKE API: BIZSHAKE authorizes the development of an API that permits access to BIZSHAKE platform smart contracts. If you are certified Web developers, you can register on the BizShake platform and create new applications that can leverage BIZSHAKE smart contracts without compelling users of your created application to openly interact with BiZSHAKE platform.
★ SmartDispute: BIZSHAKE will comprise of a three-stage dispute resolution system that will permit users to obtain a transparent aftermath when a dispute arises. In the Smart Dispute resolution system, the smart contract will randomly choose 5 arbiters who have high reputation on the platform,
★ SmartIdentify: this is one of the most exclusive features that will utilize the AI algorithms to analyze a user's ID, profile, and level of credibility via insurance data, government records, financial records, and many more.

BIZSHAKE TOKEN

The BIZSHAKE platform is creating its own native BizShake tokens (BZS). The BIZSHAKE token is an NEP-5 tokens standard on the NEO blockchain. BiIZSHAKE tokens "BZS" will be the certified currency accepted for all transactions across the platform, although fiat will be accepted but will be converted to BZS for any transactions.