ICO Analysis: WONO

It's been awhile, but I'm back at analyzing ICOs. If a coin takes off, the sooner you got into it, the better.

The above image is from the WONO website and that is the token I'm discussing today. With this P2P platform, you can rent or exchange products and services. You can exchange directly or with tokens. With a ratings and review system, you can trust who you're doing business with. It will use Ethereum blockchain and any Ethereum wallet will be able to store WONO keys.

So, what sets WONO apart from about a million competitors? There will be no tax or currency conversion charges. How they're able to get away with not having those charges, I'm not sure, but the fact that they are excites me.

Additionally, the platform has a wide variety in terms of what you can exchange, meaning you wouldn't need several platforms for all of your transactions. They will be using blockchain technology to put exchanges in escrow for high transparency and to make sure requirements are met on both sides. The transparency is meant to create trust between users. In case of a disagreement, a neutral arbitrator decides which party of the deal deserves compensation. In turn, the arbitrator receives a bonus from money set aside for insurance.

WONO will mainly be focusing on space sharing (think Airbnb), transportation sharing (think vehicle rental), service sharing (think Upwork) and miscellaneous asset sharing (think gym memberships).

Currently, the "sharing economy" is worth about 15 billion dollars and that number is expected to grow to about 335 billion dollars by 2022. WONO wants to fix some of the current problems with the "sharing economy" that has been developing. There are wonderful advantages to services like Uber, Lyft, and AirBnb, but there are also some downsides. These services tend to be cheaper than cabs or hotels, but there is still a middleman taking a huge cut of the profits. However, that middle-man instills a sense of trust.

With WONO, they want to make exchanges easier and help you build trust with strangers instead of corporations. The team explains in their whitepaper:

"WONO isn’t just a blockchain-based Craigslist or Airbnb. It’s a new paradigm of economic P2P interaction based on decentralization, transparency, mutual trust, reputation, and collective decision-making by members of the community."

This project wants to let you easily exchange services or products with minimal transaction fees and high transparency.

The ICO begins July 31st and in Q4 of this year they plan to launch the WONO client in beta mode. In the summer of 2019, they want to launch in several United States cities including Los Angeles, San Francisco, Venice, Santa Monica, and Vista. Shortly later, they want to expand to other United States cities. They are prioritizing Chicago, New York City, Boston, Miami, and Orlando. By the end of 2019, they want to begin global expansion in London, Paris, Barcelona, Berlin, and Rome.

For more information you can check out their website or their whitepaper