We all heard about the sharing economy. This is going to be the "next generation" of our we interact. Ownership is a dying animal. Instead, it seems the model is going to be one where people opt to use a product for the time periods they need it.
This idea is gaining steam within the automobile industry. Most of the major manufacturers are laying the groundwork for a ridesharing program. In short, cars are one of the largest expenses people have yet sit for 22 hours a day. This is a poor use of resources.
Blockchain is going to be at the center of this transition. Through the use of smart contracts, we can see how all transactions can be placed and verified on the blockchain. Plus, with the addition of cryptocurrency, there is a means which people can pay/get paid. Add in the DAO component, and we see a self-contained autonomous system.
ShareRing is a company that seeks to put the sharing economy on the blockchain. In their view, the present system is too fragmented. They are correct. The ultimate goal is to allow users to rent, borrow, or share a wide range of assets through a single applicatoin on a smartphone. This will be tied to their blockchain and use their tokens.
In its white paper, the company lists areas where its technology could prove useful. Some examples include renting cars, trucks and trailers, as well as booking delivery drivers, sharing gardens, swapping books, co-housing, car sharing and social dining.
https://cointelegraph.com/news/company-aims-to-become-amazon-of-sharing-economy-with-blockchain-app
Before going any further, I will state the article linked is sponsored content. Also, I am in no way endorsing or recommending this company or what they are creating.
I bring this point up to show some of the ideas that are floating around out there. Brian Kelly stated that Bitcoin is like the Internet of the 1990s. Actually, blockchain is like that. We are seeing ideas being worked on from all corners of the world. Also, every imaginable market is being tapped. There are going to be many that do not work out yet some are going to be life altering.
Blockchain is going to be central in our lives in a decade, even if most are unaware of it. Applications are emerging daily that replace traditional ones. While the conversion is slow, partially due to all the FUD, it will not be this way forever. The next 24 months should see a massive explosion in the use of blockchain technologies.
People like the idea of getting paid. As more applications come out that put money in people's pockets while making their lives easier, they will be embraced. The key is for those of us involved at this point to keep moving things forward. We are the test cases for all these new ideas. Our role is crucial in introducing the world to the new models that are appearing.
The FUD is strong but the technology is a lot stronger.
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You have spoken well. There would be a massive explosion but only the long sighted can see this. The myopic will keep saying that crypto is scam and would die away any sooner.
You are also right about this. We play a crucial role in the wide spread of the word CRYPTO because we are more like the pioneers of this technology which has come to stay.
One tough nut to crack is that the sharing economy often pays terribly. For example, Uber drivers net under $4/hr (https://www.theguardian.com/technology/2018/mar/01/uber-lyft-driver-wages-median-report)
For social apps that pay through crypto, the way networks tend to work, there are a handful of influencers that garnish the bulk of the rewards and a very large number of people sharing the scraps (minnows and whales on Steemit).
I don't think this in unsolvable. A good rewards distribution system will attract a much more loyal and active user base, putting pressure on services that are less equitable. But it will have to be constructed in a way that whales don't automatically form.
I think though, this would be sharing items that you're not using... like a hedge-trimmer, or mixer. You wouldn't make a full-time job out of renting out your tools, but it'd be a nice little bump in spending money.
AirBnB seems to pay well enough for people to vacate their apartments for the weekend... but it's not their job.
Agreed. Things that add a little cash to peoples wallet will be very attractive as long as the energy it takes to participate is low. But if someone has to spend 10 hours a week to make $5 it won't work so well. This will all work itself out since people will gravitate towards the services with the most value.
I completely agree.
You're right about the amount of effort required versus the income generated. I guess making an AirBnB profile might take an hour or so... but cataloging every single thing in your house that someone might want to borrow could easily take 10 hours. We'll have to wait and see, but I'm still extremely excited about this concept.
Blockchain is solving problems that we had no idea they existed, and when we think that´s all, more potential this technology shows.
The car problem will probably be one of the first things for this "Sharing Economy" because as you said, cars are very expensive and not used for any reasonable amount of time (for example, I´m super dependent on my car and I still only use it 3/4 hours a day).
Seems like a pretty cool idea, I wonder what they will have in place to prevent abuse. It's becoming more apparent (although I think most of us have known) that blockchain is opening doors to new possibilities. We are going to be seeing some major innovation in the next decade.
This is absolutely huge for me.
We recently moved to a big property, and only have a minimal set of tools... but if you want to hire something from the hardware store (because you only need it once or twice a year) the prices are so expensive that you pretty much might as well buy it.
The thing is... I know my neighbours have the tools I need, but we don't know them well enough to borrow things off them. It's the same thing with my wife, occasionally she loves to bake... but not often enough to buy all the expensive things (sifters, mixers, etc).
I would love to hire tools off my neighbours, happy to pay them, but want it to be totally legit and above board... and that ShareLedger goes a long way for that.
This is an absolutely massive concept and I truly hope it goes world-wide so we can all stop buying so many products.
More than cryptocurrency it is Blockchain technology that will revolutionize things and cause the mass adoption of the tech.
Thanks for sharing such a good information . I will see you future posts
what a creativity!
Very informative post.
I can know the economic information from your post.
Thanks for sharing sir @taskmaster4450
Waiting for your next post.
Yes @taskmaster, I suspect that even most of the informed ones of today can't imagine what is coming up - a truly revolutionary era!