Decentralized Sharing Platform is Taking a Bite out of the Sharing Economy

According to chipin.com

Over the last decade, the nature of work and service has changed in some subtle and other not-so-subtle ways. A lot of this change is precipitated as millennials, that incessantly mobile and eccentric generation, make their mark on the economy by looking for new and better ways of doing things. As a result, a novel, more participatory economy emerged. Hotels, taxis, rental services, even traditional corporate structures are all being upended by this new movement.

These changes take on a variety of names. Some see themselves as freelancers, others are participating in the “gig economy,” and it’s collectively known as the sharing economy. Regardless of the title, it’s a gigantic market. According to freelance exchange, Upwork, nearly 60 million people are freelancing. What’s more, the Brookings Institute estimates that the sharing economy will be a $335 billion industry by 2025.

At this point, the sharing economy isn’t just lucrative. It’s incredibly expansive. Uber, frequently seen as the preeminent sharing service, is joined by a host of competitors that offer their own unique take on the ride-hailing industry. Another front-line company, Airbnb, is experiencing similar market dynamics. It’s not just competitors who are crowding the market. New services and ideas are constantly emerging. As the sharing economy becomes more mainstream, additional companies diversify customer options but also complicate the market.