GSENETWORK: THE OUTSTANDING SOLUTION TO THE CHALLENGES OF THE CURRENT SHARING ECONOMY

achuks (6)in #blockchain • 6 years ago

BLOCKCHAIN TECHNOLOGY AND THE INTERNET

Ever since the advent of blockchain technology the world today has witnessed a new level of technological revolution, such as cryptocurrencies, decentralized applications etc. Through this, both new and existing platforms have embraced blockchain technology so as to carry out varying degrees of innovation or solution as the case may be. Decentralization offered by blockchain technology ensures data is safeguarded against manipulation as well as ensuring users are in total control of their personal data. Owing to the breathtaking benefits associated with blockchain technology, a platform known as GSENetwork aims to be a part of the revolution brought by blockchain thus bringing a great turnaround in the global sharing economy.
GSENetwork plans to create a trust network which will be utilized by global sharing economies, the created trust network will be decentralized and in light of blockchain technology.
Global sharing economy was made possible through the invention of the internet, ever since then, the growth of global sharing economies has been tremendous.
The advantages related to the sharing economies made possible by the internet are;
i. Giving a peer-to-peer reason for Individuals to execute with no middlemen at all as well as opening new approaches to make utilization of underutilized resources a reality.
ii. Raises astounding open doors for normal salary workers,
iii. Opening up new courses for business people to all the more likely create and use their abilities.
But unfortunately, these advantages have turned out to be constrained by specific difficulties.
GSENetwork was created to solve the challenges constraining the genuine development of the global sharing economies.
High delegate or intermediary charges are one of the issues restricting the development of sharing economies. This is found in the plan of action the present sharing economies use which is vigorously in view of centralized platforms. These platforms assemble these assets needed by consumers and providers, then charging them very high with no option or plan to reduce the fees.
Likewise, the absence of trust in the administrations offered by the current sharing economy is yet another challenge. Also, lack of transparency is highly found in fragmented landscape associated with most sharing economies. Furthermore, risk corrections or accommodation is certainly not encouraging, this can be attributed to the fact that the intermediary might be biased when offering the needed service he is paid for.

GSENetwork is the simple solution to the aforementioned problems or challenges.
By creating a trust system based on blockchain technology GSENetwork could offer an answer for the difficulties constraining the development of the sharing economies. GSENetwork aims to properly utilize the features of blockchain technology; that is decentralization and smart contracts. With these two, a decentralized peer-to-peer network will be created thus removing the need for intermediaries and as such more value is reserved, this reserved value is then shared among parties who made the created value to be possible.
There are certain features which GSENetwork utilizes to create a global sharing economy, they are;
A. DService Platform (Decentralized Service Platform): GSENetwork means to exhibit a vigorous and well assembled decentralized Infrastructure that sharing economies can use to fabricate their organizations. By using DPoS consensus, GSENetwork will make a DService platform which will be utilized by systems such as Anti-Fraud systems, Transparent Pricing System, Order dispatching systems, and so on.
B. Incentives Model: GSENetwork created this to ensure participants who contribute to the growth of the ecosystem are rewarded for the valid transactions carried out by them.
C. Trust Network: Through this, users will be able to earn more incentive. The incentives earned depends on the level of trust profile the user has. That is to say, when a user carries out more activities, the user's trust profile will be updated thus more incentives for the user.

CONCLUSION

The purpose of the team behind GSENetwork is to create a blockchain-based trust network which will be decentralized thus removing the need for intermediaries while solving issues limiting the current global sharing economies.
GSENetwork realized the huge benefits associated with sharing economies, therefore setting tools to promote the growth of the sharing economies at the same time achieving a system filled with an independent network of consumers and providers.

GSENETWORK TEAM