WONO — The Disruptor of P2P Sharing Economy
Background
Internet has transformed the way businesses are conducted. It has no more the source of knowledge but has become the source of value, exchange of value in the contemporary world. Bricks and mortars are the traditional stories now days. Inadvertently, the introduction of Decentralized Distributed Ledger Technologies has taken the internet to a next level. Bitcoin is the first, and the most prominent idea which has utilized the Blockchain Technology, resulted in paradigm shift of the business model i.e. without the use of Centralized Trusted party, while creating a consensus among the network to a common fact. Further, the introduction of smart contracts and development of DAO (Ethereum the pioneer) has made an impact to transform a legal contract without the need for human intervention.
WONO, a protocol, is a Ethereum based collection of smart contracts that disrupts the Peer to Peer (P2P) Sharing Economy business model without the involvement of a 3rd party in a business transactions. Thus, we can state that involvements of Middle men are the tales of the past.
Business Model
Sharing Economy is a jargon that is used to describe the economic activity conducted between two independent parties; such activities may involve sharing of the underutilized assets, collaboration for a specific task, freelancing and so on and so forth. It is said that sharing economy will become a major part of the economic activities conducted in a country. Some researchers estimate that such activity will grow from $ 14 billion in 2014 to $335 billion by 2025. Airbnb, Uber, Upwork are some examples of Sharing activity platforms.
Despite of the fact that these new business models are the coolest things for the millennial world as well as for the rest, still some issues persist in the business model. Common issues are:
· There is a key threat that early players in this field will create monopolies which may result in inefficient economic system
· As a model is based on P2P basis, how one party to a contract is assured that the goods or services provided will be the same as stated, thus, there is an issue of Trust
· With the centralized business models, we have middle men who charge fees and commission for their services as much as 20% of a value
· There is a risk that one party of the contract will not fulfill its obligations.
So, there is a need for a solution that these issues are mitigated so that Sharing Economies may prevail in the future. It is estimated that internet transactions will cross 450 billion per day (http://blogs.teradata.com/international/how-much-data-we-create-daily/).
WONO is an idea that envisions tackling the above stated issues of the P2P Sharing Economy. Backed by a strong team, there target areas initially are to disrupt the following sharing economic models:
The Field of Home Sharing, with simultaneously providing not only a platform for renting properties, there value preposition also include the concept of “Home Swapping” i.e. a WONO Token holder can swap his property in one country with another in a different country.
The area of shared transportation
If you have a DSLR camera, which is not in your use currently, can be rent out on the WONO protocol based platforms. The best thing is that any asset can be announced for sharing
Freelance working model is one of the target area where WONO protocol can bring disruption
With the introduction of Blockchain technology, where smart contracts act as an escrow agents to execute a contract completely, the benefits of such technologies are also introduced in the protocol such as Transparency, provenance, automated execution, the Trust, internal currency for the use which helps users to trade with the whole world with one single unit, that eliminates the conversion charges, taxations etc.
The WONO team has not only introduced the WONO protocol, but the disruption is achieved through the outline of WONO API, WONO Client, such that the combo creates a new revolution to sharing economy.
The best thing about the whole project is the introduction of other parties other than the P2P is 1) the Guarantor and 2) Arbitrator which help to ensure the trust and execution of the contract to its entirety.
Conclusion
For the purpose of simplicity, following bullets will help to understand the feasibility of the Project;
Business Case :
Sound numbers, increasing trend
Product Concept:
use of Blockchain has made it possible to create its Differentiating factors
Whitepaper Quality:
WP is well crafted, deals with background, introduction, Operational aspects , technical aspects and the team
(https://wono.io/assets/wp.pdf)
Social Activity
Almost all social platforms famous among Crypto Community
Fund Allocation
Lower on Marketing, which indicates that Company plans for long term development rather than having myopic view of achieving
MVP
The protocol has yet to be developed
Team
Moderate
Important Time Line
Q3 2019, wherein activities such as “Trial launch on the market, user migration from the test network to the Ethereum network, preparations for the massive user registration” will be conducted
Advisory Board
Moderate
Token Economy
A ERC 20 Utility token that will be used for Paying for Asset rent or services, platform fee, crowd deal insurance, arbitrations.
Key Growth Factor
Adoptability of the Token
Contact Details
https://www.instagram.com/wonoworld/
https://www.reddit.com/user/wonoworld
Disclaimer: This is not an investment advice and just a mere piece of information. This shall not be taken as quote from the organization discussed above .For investment related decision, it is highly recommended to read whitepaper and other related material. Do consult your financial and legal advisor before investing.