Overview
BizShake envisions a next-gen P2P ecosystem that’ll power the future of real-world assets through tokenisation on the blockchain. By utilising the many innovations and cutting-edge technology and efficiencies that blockchain has to offer, Bizshake will provide users with enhanced features and security over traditional platforms and models. I believe that BizShake has the potential to disrupt the P2P space and in this article, I will go over a few key features that I believe will help BizShake achieve this goal. So let’s dive right into it.
The Mission and Vision
BizShake is the P2P sharing economy of the future comprised of a holistic ecosystem of dAppa which allows users to share their own property and real-world assets with other users and generate an income from doing so. Sharing access rights of assets among a community is essential to improve positive social responsibility whilst helping achieve a better living standard for all. BizShake believes this and is using this vision to build the foundation of this new P2P market paradigm. Another aspect of BizShake that I’m really excited about is their SmartPawn function which we’ll get into detail later. It basically allows users to exchange the temporary usage right of an asset with financial benefits for both parties, and these benefits are based on pre-established agreements and based on blockchain technology.
While there have been other P2P sharing companies, the number of actual successes have been few and far between. BizShake will attempt to change this through trustworthy transactions, decentralisation, reliable execution of smart contracts and a host of other features.
This also means that a verifiable record of every transaction will be clearly available and viewable making things a lot more transparent. BizShake will generate income by charging a small portion of transaction fees on all their applications on the platform. As the platform grows, the more BizShake will stand to benefit.
Powered by the NEO Blockchain
At its heart, the BizShake ecosystem is designed on the NEO Blockchain. This is because NEO has the potential to achieve massive scalability, with the capability of accomplishing 1000 transactions per second and even more in the future. The NEO Blockchain also uses delegated Byzantine Fault Tolerance or dBFT which can be considered to be one of the ‘fairest’ ways to create new blocks on the blockchain ‘without the need for mining’ (Proof of Work, PoW.) NEO is also compliant with government blockchain regulations so the trust concept on the ecosystem is also emphasized. This gives BizShake the unique advantage of scalability, transparence and regulatory compliance that other projects lack.
Key Features
There are a host of features that put the BizShake ecosystem a cut above the rest. Let’s take a look at some of the key features that will take innovation to the next level.
SmartRent
A core function of BizShake is "SmartRent". With SmartRent, users would be allowed to lease assets to additional users for a specific time period. For instance, you could have a piece of furniture or a tool like a ladder which you aren’t currently using and would like to rent out. All you need to do is simply state the advantage on SmartRent together with a rental fee, pictures of the item or asset along with anything else you feel the need to mention and you’re all set to rent. You can set different rental prices by the hour, day, week, or month. You could also complete a calendar describing which dates the asset will be available to be leased, the geographic area where the advantage will be available to sent and passed over, the value of this asset, and the total amount of deposit which will be locked from the blockchain. The user leasing the advantage -- that the lessor -- will be able to set different deposit sums for users with different credibility levels. Someone with a high credibility degree, as an example, can pay a considerably lower deposit than somebody with a low credibility level. The time limit on the rental period will be put with a smart contract.
SmartPawn
Another awesome feature on BizShake - and one of my favourites - is SmartPawn. With SmartPawn users can pawn items in exchange for a short-term loan – just like an ordinary pawn shop.
SmartPawn allows users – called “pawners” and thankfully not pawnstars – to obtain a short-term loan backed by the value of an asset. Much like how pawning works in the real world, you’re “pawning” your asset to another user, and that user is providing a loan based on the value of that asset. It’s like a regular pawn shop but with the security and transparency of the blockchain.
SmartCertify
In a P2P ecosystem such as BizShake, there’s a critical need for asset verification and certification. This brings us to SmartCertify. It’s a system which will work with Certifier Users who will certify that a specific advantage is precise as described by the proprietor. Certifier Users can make an application for qualification, then experience" a rigorous review" out of BizShake to examine their certification and professionalism. This adds an important layer of verification and trust to the platform that other platforms simply can’t match up to.
SmartDispute
Let’s face it, no matter how great the platform, in every P2P system disputes are bound to arise. However, things can be simplified on the platform itself to ensure that all parties are happy and disputes are resolved in a timely fashion. To achieve this, BizShake will incorporate a three-stage dispute resolution system that allows users to get a fair outcome when a dispute arises. The dispute resolution system involves a panel of randomly-chosen arbiters, with arbiters being high-reputation users on the platform.
BizShake (BZS) Tokenomics
Final Thoughts
I believe that BizShake is well on its way to creating the P2P ecosystem of the future. They’re well prepared to propel the sharing economy through the power of the blockchain and it’ll be interesting to see the results. A suite of features and innovation already puts it far ahead of the rest. That being said, BizShake will need to be perfect with their decisions and race to grab market share.
In sum, BizShake will operate in an ever-increasing market and stands to grow by leaps and bounds. They’ve identified a key area for their services and are all set to make a great beginning. As cryptocurrency in general grows, adoption will only increase and the demand for P2P services will increase. I look forward to tracking their progress and hope they succeed. The sharing economy has great environmental and community advantages and it’s great to see this play out. I will also be following this article with another part where I will cover a few more features as well as BizShake's innovative governanace model which you don't want to miss out on. Watch this space for more.
Useful Links:
Website: https://bizshake.io/
Twitter: https://twitter.com/BizShake_ico
Facebook: https://www.facebook.com/bizshake
Telegram: https://t.me/bizshake
Whitepaper: https://bizshake.io/sites/default/files/BizShake_Whitepaper_1.2_ENG.pdf
Disclaimer: Part of the article group.