The sharing economy is an economic system whereby services or assets are shared between private individuals either free or for a fee typically with the usage of internet. With the sharing economy, you can easily rent out things you don't actually need at the moment such as your case, apartment, bike and even your WIFI network at an agreed fee by both involved individuals.
The renting out of assets to other people have actually been going on for ages, but the invention of the Internet has made it very easy and more efficient as both seekers and owners can be easily connected to one another. This is also known as peer-to-peer renting.
The main features of a sharing economy business model are;
- Instead of purchasing an asset, the seeker rents it for a fee from someone else who is ready to rent.
- A platform is required for bringing owners and seekers together and facilitate all transactions between them.
- The platform itself does not own any of the assets on offer.
BENEFITS OF THE SHARING ECONOMY.
- It has developed a culture of trust in business.
- Due to the integration of the internet with this type of business, anyone can easily be get the service they want.
- With the internet transaction time is highly reduced.
Popular sharing economy businesses are;
- Airbnb
- Uber
- LendingClub
- Dogvacay etc.
DEMERITS OF THE CURRENT SHARING ECONOMY SYSTEM.
- The main issue it faces is it being highly centralized. The involved platforms are the middle men in this case and they charge exorbitant fees from both the owner and the seeker.
- Users data have high risks of getting compromised, because they have to register on multiple platforms they make use of their privacy can be compromised.
- Lack of transparency
- High scam risks: The internet is also a place where malicious cyber attacks develop from, so with the internet, an owner can be scammed and give versa.
WHAT IS GSENETWORK?
GSENetwork is a blockchain based platform that will decentralize trust network for sharing economies.
GSENetwork aims to create a global sharing economy platform with a a decentralized trust network to enhance the current sharing economy system. With GSENetwork, all behaviours of every user, service or asset anywhere in the world will be seamlessly connected. The integration of blockchain technology will truly enhance how transactions are made in the system, because with it's smart contract feature all transactions will be faster and less time consuming.
Since the GSENetwork will be a decentralized one, high fees charged by these platforms will be highly reduced and in its place a reasonable fee will be collected from the owner and seeker, all middle men will be cut off.
The blockchain has the potential of recording all kinds of transactions executed on it, as it will be fused with the GSENetwork ecosystem , all transactions done on the platform will be recorded thereby reducing risks of user data getting compromised, transparency will be highly guaranteed to it's participant and zero scam risks.
In GSENetwork, the blockchain will provide secure data logging with the use of DPOS consensus algorithm all processing data, economic incentives, transactions will be highly secure.
GSE TOKEN.
This is the internal cryptocurrency of the GSENetwork platform and will only be used on the platform as an exchange unit for all services on the GSENetwork.
GSE token will also serve as an economic incentive which will be consumed to encourage users to contribute and maintain the GSENetwork ecosystem. Since the network will be making use of the DPOS mechanism whereby token holders will vote for a "Delegate" who will begin charge of confirming transactions and maintaining the blockchain, all GSE token holders will also be able to exert a certain degree of impact in the future of the network because they will also be capable of voting for potential delegates.
The continous and widespread use of the GSE token will boost the GSENetwork platform and become more liquid to its holders.
TEAM
The team is made up of highly intellectual people who have been in the sharing economy business for a long time and also blockchain experts who believe that the blockchain holds lots of potential and can eradicate the problems plaguing this type of business.
For more information on this project refer to links below;
Website: https://gse.network
Whitepaper: https://www.gse.network/static/media/whitepaper.pdf
Medium: https://medium.com/@gselabofficial
Facebook: https://www.facebook.com/gsenetworkofficial
WRITER'S INFO
Name: thaddaeus
Bitcointalk username: beneze
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2190968;sa=summary
Ether wallet address: 0x3Fe8C58ae2A380e132e07486bfec847cFE522797