No doubt, sharing economy has already made our lives (mostly our vacations) easier and more exciting. What once seemed impossible, is now considered normal. Renting property or vehicle from another person doesn’t seem so weird now. Neither does listing your own precious house on some online platform. It’s widespread and trusted.
What can possibly go wrong?
Let’s take a look at the other side of the friendly and shining idea of sharing economy: wherever there are people, there are human factors, mistakes and emergencies.
Last-minute cancellations and unpredictable issues with the house (with parking, number of bedrooms, location…) are on top of the iceberg. The number of fraud techniques is growing faster than the number of the platforms security updates and features. So how do you know that your personal data and your properties are safe?
The new blockchain-based startup – WONO – aims to improve the situation.
WONO is a decentralized online environment for sharing, earning and spending. And here’s the best part: there are no taxes and high commissions, which are widespread for offchain monopolists like AirBNB, TURO, Upwork and similar services.
On WONO platform you can finally get maximum value out of anything you own: house, car, bike, musical instruments, skills or experiences.
Transparency and safety are the main principles, that WONO wants to bring to the sharing economy market.
How will WONO do it?
Ethereum blockchain will secure every deal, made on the platform, with a smart contract. Smart contracts guarantee, that until the conditions of the deal are met, money won’t be transferred. So as a customer, you won’t have to make a pre-payment and get your money back in case of emergency. As an asset owner, you are sure, that the person, who is using your asset, will pay.
WONO is also offering cheaper transactions, which are performed in WONO own currency. WONO – tokens is the major currency inside the platform. You can rent or buy anything listed and since tokens are in most countries determined as digital assets, you don’t need to pay taxes for token transactions until you withdraw them and exchange into fiat.
WONO will be combining property, vehicles, miscellaneous goods and freelancing, so you can literally find/rent/buy anything inside. No need to pay for withdrawal or currency exchanging!
There’s also a comprehensive community-insurance system, which will let everybody secure deals. Any WONO user can insure deals and help solving disputes and get rewarded with tokens for it.
The WONO team is now focused on the proof of concept, which will be shown in the end of July, shortly before the ICO.