A sharing economy is defined as an economic model that allows participants to share resources. On a sharing economy, consumers could share in the creation, production, distribution, trade or use of products, goods, and services. This is often enhanced across a digital platform, such as online communities or apps. Basic examples of the sharing economy include ride-sharing, short-term rentals, coworking, and grocery delivery services.
Otherwise known as the “gig economy”, sharing economy allows people to earn income by providing on-demand work, services, or goods. It serves as an escrow where an exchange for valuables can be made and it reduces the cost of logistics that could be incurred in an independent search for a service recipient.
Despite the benefits of a sharing economy, there are rising concerns of safety and privacy, as well as taxation and how to report income. Also, a sharing economy is usually product or service specific. This shortcomings of sharing economy is only identified within a centralized system. Decentralized networks have emerged to cater for the privacy and safety concerns, hence, decentralized sharing economy.
The Hive Blockchain, being a truly decentralized network for "everything" have converged several people from several works of life to share resources together. On the Hive Blockchain, buyers and sellers meet, service provider and consumer meet, app creators and users meet, content creators and consumers meet. Unlike the traditional sharing economies, Hive provides for feeless, fast and peer to peer transactions, user privacy protection as well as allows the user to be fully responsible for his/her safety via account custody. Also, participant's income earned from gig work are not taxable.
The Hive Blockchain supports gig sharing, peer to peer transactions, collaboration among users and collaborative consumption of resources including revenue. LeoFinance built on Hive network is a specialty in providing for shared revenue across it's users.
Here's a typical way that LeoFinance serves as a decentralized sharing economy:
It is beautiful to see that the content creator may not have the capital to buy $LEO and stake tokens, but earns it courtesy of the sharing protocol via the consumer's upvote. The consumer on the other hand gains influence in the system by how much stake he has.
In LeoFinance, Everyone brings something to the table though not the same thing and everyone shares from each other what was bought. Besides, the community generates revenue and shares to every member of the community.
The latest update "LeoFinance is Paying Hive Creators Ad Revenue" shows how powers is shared by members of the community and they decide how revenue is shared.
A democratic landscape where users hold power? Yes, indeed! LEO POWER (staked LEO) grants you influence and utility on this platform. As a holder, you unlock curation abilities - choosing which content floats to the top of feeds, access to ad revenue, and a say in ad approvals. A bid system tied to Leo Power is on the horizon, aiming to enhance ad serving and revenue.
This is a premier on the Hive blockchain where content creators would be sharing ads revenue of the community. It can best be described as "rewards on top of rewards".
You don't want to be left out in this epic reality that unfolds in the web3 would where thee a no concerns on security of account and privacy violation since everything can be chosen to remain anonymous. You do not need money to start. Simply head on to leofinance and stat creating long form and shot form contents and be a pat of this wealth revolution.
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LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
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