In America and other western countries, home ownership is losing ground to the rental cohort, and new internet-based services like Airbnb, Rent the Runway, Zipcar, and TaskRabbit – just to mention a few – have enabled the rise of the “renting and sharing economy.”
Now, “rent” is becoming the new “own,” according to market strategists. Americans of every demographic are flocking to services like Airbnb, Taskrabbit, and Bag Borrow or steal for one overwhelming reason:
Renting and sharing allows us to live the life we want without spending beyond our means, not all of it is intentional though: low cash flow or none at all, is most certainly driving many customers to rent rather than buy. But it’s also becoming quite trendy; consumers are either unwilling or unable to afford big ticket purchases – whether it is a house for $500,000 or a new dress for $500.”
Introducing the Rento platform
The Rento project intends to have a mobile application, including a web platform that allows users to quote their unused assets for renting or sharing on its platform. Every listing on the platform is made up of key aspects of the asset or resource, such as its rental cost, availability schedule, images or video of the actual item, specifications, and terms and conditions particular to the asset.
Leveraging the blockchain technology
The platform will use blockchain technology to secure international and local transactions, use smart contracts for security deposits, make sure that reviews of items lenders, borrowers, services, and items are real and substantiated. Cut down friction for transactions and affirm the transactions themselves and guarantee payment for services as well as compensation via smart contracts for any violation of the contract.
While blockchain and cryptocurrency may seem complicated to the average consumer, the goal behind Rento platform is to make the use of such technology easy and stress-free for consumers and businesses alike. It doesn’t matter what type of product or service a user wants to share – sharing economy businesses can facilitate everything from petsitting to parking in someone else’s driveway.
With secure storage of all data in the blockchain as well as seamless identity verification, there also isn’t risk of having one’s tokens used without their knowledge.
Taking the sharing economy to P2P
The idea here is to have a platform that makes the sharing of everyday products and services easier, as well as implementing sharing across different industries. Apart from that, it makes use of blockchain to secure cross-border transactions and smart contracts to enhance security deposits.
The project has three key components of Rento App, Rento Blockchain and Rento model store.
The platform’s Blockchain
The platform is using a Proof of Authority blockchain for transactions within the Rento App, especially for payments, security deposits, and transaction history as these will guarantee transparency.
Token economy
Token name: RENTO
Token symbol: RTO
The total number of tokens: 600,000,000
Number of decimal places: 8
Token Standard: ERC -20
Network Base: Ethereum Network
Tokens for sale: 264,000,000
Tokens for bounty: 6,000,000
http://rento-app.io/
https://bitcointalk.org/index.php?topic=5074644.0
https://rento-app.io/assets/whitepaper.pdf
https://t.me/rentoapp