WONO, THE DECENTRALISED P2P MARKETPLACE

Of late, the method of doing business that is gaining much recognition in the existing market in this technological world is ''Peer to Peer (P2P) marketing system'' though it has been in existence centuries ago. The P2P system is a sharing-based economy that allows services such as accommodation, transportation, financing, software and digital entertainment, and the delivery of goods and services to consumers. There are some businesses that are successful in the delivery of their services through sharing. These shared service providers include Airbnb, Turo, Getaround, Just Share It, Uber, freelancer, TaskRabbit, Upwork, Thumbtack and many more. The sharing economy generated revenue of $15 billion in 2014 compared to $240 billion generated by the traditional economy and this amount is anticipated to reach $335 billion in 2025, according to a report by PricewaterhouseCoopers (PwC) in 2015. Also, freelancing alone contributed an estimated amount of $1.4 trillion to the US economy. It is no doubt that this sharing economy has a lot of growth potential in the near future.

The P2P economy is booming and according to a research by Latitude Research and Shareable Magazine, the main reasons why sharing economies grow include technology (web and mobile technologies), the belief of people in sustainable consumption concept, saves money and it provides a community where people interact online. However, it has some problems that WONO seeks to address. These problems include high middleman commissions, lack of trust between owners and renters and fear of monopolies. Wono strongly believes that moving the P2P sharing economy to a modern platform (blockchain), as proposed by experts on shared economies, will solve all these issues.
What then is Wono? Wono is a decentralized platform for P2P exchange or rent of any assets (including houses, cars, etc) and services. Aside from being a blockchain-based platform, WONO is set to change the P2P economy with platform transparency, mutual trust, building reputation, collective decision making by members of the community and an interaction based on decentralization. WONO serves as the link between the cryptocurrency community and the real world as it enables cryptocurrency to be exchanged with physical assets for rent. It focuses on space sharing, transport sharing, miscellaneous assets sharing and service sharing. Do you have more than one asset (homes, cars)? You cannot be in two houses at the same time, and you cannot ride two cars at the same time as well. With WONO platform, you can rent your house or cars to others in need of it and earn money. You can also exchange your services as a freelancer for Wono token.
WONO offers 1% - 5% commission which is profitable for owners and investors as the middlemen companies responsible for the high commission charges, 30% - 40% on an average, are been eliminated.

An asset owner must pay taxes as an entrepreneur but with WONO token which is a utility token for the platform, since these entrepreneurs will no longer pay taxes since the tokens are digital assets and are non-taxable.
WONO smart contracts guarantee that the conditions of a deal are met and in case the deal is canceled, the crowd arbitrage systems provide you with compensation unlike in the traditional services which have no guarantee that the deal will be completed.
WONO provides transparent asset rating system and builds community member reputations and in so doing ensuring trust on the platform.
As a WONO user, you function in four ways including being;
• a vendor: property owner, a service provider like a freelancer
• a customer: rent an asset or hire services of a freelancer or exchange asset/service,
• a guarantor: the party that guarantees the successful completion of a deal between a vendor and a customer by providing stakes and earn bonuses in return. Note that the platform does not provide insurance for assets and hence the guarantor in this case, does not insure the assets but rather insures the risk of deal cancellation. In case the deal is canceled, the stakes are used to compensate the parties involved.
• an arbitrator: Most deals on the platform will be successfully completed but in case there is any dispute along the way whilst making a deal, the arbitrator is to analyze the situation and determine who should be fined and who should be compensated. It is also imperative to note that the parties involved in a deal cannot be arbitrators of the same deal.