BizShake Part 1 : The P2P Sharing Ecosystem on NEO Blockchain Through Tokenization of Real-World Assets [ICO Coming soon]
There are assets we have that we don’t use. There are assets we have that can be deteriorate if not used over time. Come to think of it, won’t it be a great idea, that these assets, can be turned into profit? The world is going digital, with the cryptocurrency frenzy, wont it be a better idea that these assets can be rented out to someone of my choice and be paid in cryptocurrency?
Well, great news, there is a platform, Bizshakes, that has made this possible. With Bizshakes, users can be able rent/pawn their properties over a decentralized network. This Bizshakes concept is quite new, based on the NEO blockchain and it works on the principle of allowing users monetize their assets (both used and unused, as the case may be). This is the principle applicable in Uber, Taxify, Airbnb, in which asset owners, lease their properties in exchange for money, however, in this case, in place of cash, it is done in exchange for BZS token. In addition, members can choose whoever they want o pawn their assets to.
BizShake and why BizShake?
BizShake is a US-based start-up company, established by a group of ecommerce, retail, and technology companies. BizShake’s whitepaper made it clear the void they were trying to fill in the market. They stated the pawning and renting space market was vacant and needed to be filled. The rents includes items like Automobiles, appliances, houses etc. Security is provided via the blockchain network.
One thing that will always be a concern, though can be overcome is the issue of trust, as people do not want to pawn their assets to people they don’t know, without the certainty of product quality or authenticity, though this can be overcome via trust (which can be earned overtime), one of the principal benefits of the Blockchain Technology.
One of the features of the Blockchain technology, is decentralization, meaning no one is single handedly controlling or regulating it, also the reliability of this technology is massive in such a way that transactions made are recorded and can be rest assured they were performed and are also traceable, hence the obligations of the parties involved, are not questionable.
BizShake, like Uber, Airbnb are also charged, though minimally, which is to allow the business grow and further develop the sharing economy concept across all levels. BizShake has two major and unique features, which are: SmartRent and SmartPawn.
SmartRent allows users on the platform to rent out their assets, upon agreement for a specific duration, while the SmartPawn feature works just like a regular pawn shop, where users can secure a short term loan, by pawning your asset to a different user who provides the loan.
Majority enjoy the freedom that comes with monetizing their assets, and companies like Uber, Airbnb have success stories to share from this experience. Bizshake is the first to introduce this in the cryptocurrency world, where users exchange their assets for BZS tokens, and it seems like BizShake have thoroughly explored the potential for this.