Since the inception of blockchain technology about a decade ago, several creative projects and ideas that are shaping up the world economies have been scrambling for headlines. The world largest cryptocurrency by market capitalization and market value such as Bitcoin, Ethereum and Ripple are fast pacing into billion-dollar industry by driving a ready to be tapped market of the sharing economy. The value of the sharing economy, according to previous research, is on the rise and will hit a high of $335 billion by 2025 which is equal to 50% of its value from its value of $3.5 billion in 2012. Businesses based on peer to peer (P2P) platforms such as Airbnb, Uber, Freelancer, TaskRabbit and Upwork represent a new wave that is seriously shaking up the global sharing economy to the point they are now common household names. Advancements in Technology have boosted their business models to grow faster globally and create a deeper understanding with the community needs. Airbnb is in the accommodation and hotel industry, Uber is on transport and others provide freelance services.

Despite the ongoing success story, each of this projects have gone through hard testing and trial periods through which their limitations came into play. The Etherium blockchain on which their platforms are developed has twice been compromised. Cyber-criminals were able to steal 3.6 million ETH tokens worth about $60 million after figuring out an exploit following the launch of DAO in June 2016. A year down the lane another hacker was able to exploit a flaw in Ethereum-based platform parity which led to another theft of $34 million worth of ETH. In this instance ‘white hat hackers’ rescued the platform by draining other parity account funds to bar the rouge hacker from taking away more ETH. To date Ethereum has competently addressed these concerns and the businesses are back to a sharp value growth curve though these companies still face limitations such as being prone to hacking because of their centralized nature, high costs of the platform, lower transparency in their deals and unfair compensation framework for disputed deals.

Let’s backtrack, assume you are a staff manager in some corporate and you are planning on attending a conference in a different city with a colleague or two. First, you got to book some space in hotel rooms but you want to cut costs and therefore prefer Airbnb over the expensive traditional hotels therefore you endure their high commission fees. Once in the city there is need to move around and to the conference location and Uber comes in handy notwithstanding the commissions charged by the Uber company. Now let’s imagine of a one stop platform where the services are offered and seamlessly paid in digital currency without the need for currency exchange, avoiding taxation and enjoying standardized pricing due to no commission charges. Sweet deal right!

Now let’s talk of WONO. WONO is a P2P platform, decentralized in nature, that allows for assets owners and service providers to engage users directly without intermediaries. WONO runs on Ethereum blockchain and an Interplanetary File System that make every transaction carried on its platform to be open and secure. Users on the platform earn WONO tokens, that is in the form of digital currency, by renting out their assets or providing a service. The platform also allows for direct asset exchange for example home swapping between its users without involving a middleman giving it a very unique selling point for the capability of the traditional batter trade.

WONO combines the services provided by the big-centralized P2P brands such as Uber, Airbnb and focuses on their limitations to develop on their brand. Due to company greed accelerated by the monopoly enjoyed by these companies they charge high commissions making business on their platforms expensive from both sides of the asset owner and that of the customer. The feeling of monopoly also stifles the possibility of innovations as they sell what they think works best. Centralization of their systems makes their services costly owing to the involvement of multicurrency and high taxation for cross border transactions. WONO implements a novel concept that offers solution to the said limitations which include inadequate transparency in ratings and reviews of users, high vendor taxation, costly commissions by the middleman, unjust deal termination and currency loss and fraud.

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WONO offers solution on unjust deal terminations in a bid to make sure of successful termination of deals on the platform. This is done by the introduction of smart contracts for the users of the platform getting into deals. First of all, the platform only allows for its users to play distinctive four roles in a singular deal; that is vendor, customer, arbitrator and guarantor. The vendor is the asset owner or service provider. The customer rents the asset or hires the service. The arbitrator plays the role of a judge for disputed deals. One disputed deal can have several arbitrators who vote for the aggrieved to get justice. Guarantors place stake in deals to provide confidence to both that the deal reaches successful termination. As noticed, this platform does not entertain any form of middlemen and therefore reduce the high cost charged by vendors to cover the high commissions slapped by the service companies such as Uber. Here the vendor directly involves the customer and because of this the customers enjoy lower prices. WONO charges low commissions of 1-5% for the use of its platform as compared to the 10 to 30 % charged on Airbnb or Uber. Being a decentralized P2P platform all transactions on WONO are open and secure. This means that the transaction can be seen by others on the network at the same time bringing in the quality of transparency, security and mutual trust.

WONO employs digital currency otherwise known as WONO tokens for transactions on its platform. The tokens cannot be withdrawn from the platform and are earned by providing services or hiring out assets. The tokens can then be used to get services provided on the platform irrespective of location globally. Since the tokens exist on digital platform they are lawfully untaxable and no intercountry transaction charges are levied making business on the WONO ecosystem standardized globally. WONO token sale is ongoing prior to its launch through Crowd sale with a target of over $7 million. WONO is tipped to grow fast and the company will look to raise more money during their ICO.

WONO ICO DETAILS

Token WONO
Price 1 WONO = 0.5 USD
Bonus Available
Bounty Available
MVP/Prototype Available
Platform Ethereum
Accepting ETH
Soft cap 5,000,000 USD
Hard cap 20,000,000 USD
Country Malta
Whitelist/KYC KYC & Whitelist