BizShake, The Best P2P Sharing Platform

caxton (29)in #blockchain • 6 years ago

The sharing concept is rampant in the business world where businesses deliver their products to people but the tide has changed as the services we obtain from businesses can be obtained from our peers. People have a lot of assets such as houses, cars; etcetera which they have no use for at the same time and this brings us to the concept of peer to peer (P2P) sharing. There are some companies including airbnb, uber and so on that have succeeded in creating a platform for P2P sharing especially asset renting. Despite the success of some this companies, there is a problem in the P2P sharing industry which is the issue of trust. As a result, people are unwilling to rent from someone they don’t know for the fear that they cannot guarantee the authenticity of the asset they wish to rent. This trust issue is limiting the potential of the items we own as well as the wastage of resources in the overproduction of such items. Thanks to BizShake and the blockchain technology, these hurdles can be overcome thereby achieving the full potential of unexplored asset market and asset allocation optimization.

BizShake provides the ecosystem of dApps that aims to allow users to share their properties and in doing so maximize the value generated by the use of the property by others. The mission of BizShake is ‘’to bring a better life through innovative technology and a business model based on a decentralized P2P sharing ecosystem’’. This will be achieved through the following components;
• Blockchain: this will enable middle-men to be eliminated whilst ensuring trust and transparency in renting/pawning process.
• NEO Blockchain: BizShake’s ecosystem is created on NEO blockchain due to its benefits such as scalability, a consistent creation of new blocks without the need for mining, Digital Identity Implementation which is compliant with Government Blockchain regulations and the Quantum Proof cryptographic algorithm of the NEO blockchain which eliminates the need to update the algorithm.
• Profiling for User Experience Improvement: BizShake will gather data that will be used to calculate the credibility level of users and also to improve the user experience.
• Peer-to-peer communications and Sub-communities: users can create sub-communities based on a particular requirement to involve others using the P2P dialogue function.
• Asset verification and certification: with the use of certifier, assets will be certified digitally and stored on the blockchain to enable owners to issue them to other users.

There are two business models developed by BizShake (SmartRent and SmartPawn) which are based on the web and mobile platforms (both iOS and Android). The SmartRent enables users to rent out their assets to others. The lessor states the specifications of the asset including pictures or videos, the rental fee, the time the asset will be available for rent, the area in which the asset is located, and the amount of deposit that will be locked in the blockchain. With the help of the Smart Contract, a timeline will be set for the lessor to send the asset to the lessee and another timeline for the lessee to confirm receival of the asset.

The SmartPawn enables users to access a short-term loan backed by an asset. The pawner lists an asset with its description and asks for a loan equal in amount to the asset plus the interest he/she will want to pay, loan duration, the geographic location of the lender, and so on.