WONO – How a blockchain-based startup is going to make a revolution in the sharing economy market segment
No need to explain all pros of a P2P economy. The Internet helped private vendors provide high-quality services to their customers and compete with traditional businesses, mostly winning due to lower prices. However, there’s still a long way to make private asset sharing and freelancing more affordable for customers and profitable for vendors. WONO, a blockchain-based startup aims to disrupt monopolies and make sharing decentralized and community-driven.
Ironically, the economic sector that supposed to be the most democratic is now one of the most monopolized. OK, you still have a choice if you want to hire a private car or become a freelancer… But if you wish to rent out or hire a flat or a house, you don’t have one. That’s a pity because lack of competition leads to poor service and higher prices.
WONO aims to unite all functions of existing off chain sharing services to build a global peer-to-peer environment for sharing private assets of any kind, plus freelancing which is by nature sharing of human resources.
While all off chain (and most blockchain!) services divide users into vendors and customers, WONO lets them act in two roles simultaneously. You can rent out your country house, work as a freelance designer and hire a bike for an evening ride at the same time, using a single account. WONO token is utilized worldwide for any type of deals. That’s very handy as you can actually never withdraw tokens and save loads of money on currency exchange and taxes.
The latter needs an explanation. By now, in most countries including the United States and European Union, a utility token is a digital asset. All token transactions are non-taxable 100% legally. So until you exchange your earnings into fiat money, you don’t pay anything. This helps vendors offer even better prices.
What’s more, due to lower transaction cost in the blockchain, WONO platform can afford to take 1-5% fee, staying a profitable business, instead of charging 10-25% fee as off chain monopolists do.
Returning to the statement made in the beginning, this helps WONO to make sharing more affordable and profitable at the same time due to its unrivalled business model. Money goes to the individual who does the job or owns an asset, not to some intermediaries or bureaucrats. Moreover, a small, fair part of the deal price goes to the platform which makes everything possible.
Some critics may ask: if monopolism of particular companies is so bad, why unite everything on one platform. Isn’t it an even worse form of a monopoly?
First, on the blockchain, the logic “1 market segment = 1 service” doesn’t work. You need to build a global network or don’t build anything. In the world of the blockchain, each service has its own currency. If there would be ten sharing services for ten kinds of sharing, users will have to buy ten types of tokens and continuously exchange them losing time and money.
Second, WONO is a community-driven service. Most of the tokens are held by users themselves and they can influence the platform policy. The community solves all disputes. Even deal insurance is open to anyone who wishes to take the risk and get a bonus if the deal ends successfully. What’s more, all transactions data, user reviews and ratings are transparent and can’t be changed or deleted by the platform administration.
WONO proof of concept will be shown to the public at the end of July, shortly before the ICO starts. The market release is scheduled for summer 2019.
Name: Kirill Pyrev
TG Group Link: https://t.me/wonoworld
Look forward to more updates about WONO: Crypto Core Media Magazine