RENTO: CREATING A DECENTRALIZED SHARING PLATFOM WITH AN ALL IN ONE ...

The market capitalization of the sharing economy has grown successfully over the past few years, and a lot of individuals as well as organizations have benefited from this sector of the economy. Taking Uber for an example, Uber is a cab company but owns no car, rather operates by connecting taxi drivers passengers together yet it’s been reported to have a huge market capitalization of over $70 billion. Airbnb is another sharing company which operates in the hospitality sector also with a huge market cap, yet without owning a hotel.

However, although the sharing economy is an important sector of the economy with great advantages yet there are a lot of challenges affecting the effective operations of the companies in this sector? It’s on this note that it became necessary to design Rento as a unique sharing platform using the blockchain technology.

CHALLENGES WITH THE PRESENT SHARING ECONOMY.

There are a lot of challenges affecting the present sharing economy, some of which are:

i. Downloading and installing many sharing Applications: the challenge of having to install different sharing App on one mobile phone in order to assess those sharing platform has been a challenge. Rento is designing a platform that will serve as an all in one sharing Application where users can have access to different sharing platforms using a single Rento Application.

ii. The present sharing economy does not give many options to users in other sectors of the economy, currently; the major sharing platforms are concentrating on Transportation, tourism, hospitality and houses. But Rento sharing platform is designed in such a way that users can share just anything , including unused items like construction equipments, utensils and every other thing you can think of . This is why I see Rento as the best sharing platform for the next generation.

iii. Lack of trust, transparency as well as delay in transactions. Rento is a decentralized sharing platform and it’s uniquely designed to handle these and more challenges facing the present sharing economy.

THE ADVANTAGES OF THE BLOCKCHAIN TECHNOLOGY ON THE SHARING ECONOMY.

The blockchain technology is an innovative technology that was invented with some unique features that can transform the sharing economy and make it better than its present state. The features include transparency , trust , safety , security and unchanged are all important in the smooth running of any sharing economy , and RENTO has found it necessary to leverage on these features to create an outstanding , trusted , transparent , decentralized and safe platform where users can share almost everything including their unused items.

WHY RENTO CHOSE THE BLOCKCHAIN

-Since there are different assets to be listed on the RENTO platform all with their different prices, there is therefore a great need for transparency in order to create trust on the platform and with the blockchain technology and the use of smart contracts transparency is guaranteed.

Rento is designed to set a standard for the next generation’s sharing economy and they cannot achieve this without gaining Reputation by making sure that all information on the platform is carefully verified and secure, the blockchain has these characteristics.
In order to run a global sharing economy without boundary restrictions, there is need for a secure local and international transactions, and with Rento token on the blockchain , users will be able to share anything with anyone across the globe and carry out a fast and safe financial transactions using cryptocurrency.

-With the use of the blockchain technology, reviews made by users will be real, genuine and trusted, these reviews will be securely verified before posting on the platform.

With the use of blockchain where transaction is on peer to peer basis, Rento platform will be able to accurately verify every transaction using a smart contract and with this, there will be no issues with payment for goods and services shared on Rento platform.

-With the blockchain deposits on Rento platform will be done using a smart contract and transaction fees will be reduced significantly.

THE FEATURES THAT MAKE RENTO OUTSTANDING

i. Rento has designed an Application in order to expand and grow the sharing economy globally and do more than just real estate, transportation and hospitality sectors. Rento application will allow users to share everything that can be used, example:

Office space
Real eastate
Hardware tools / equipments
Electronics / electrical equipments
Videos and photo cameras
kitchen utensils
Chairs and other things too numerous to mention here.

ii. Rento App listing page: on the listing page, every service, goods as well as products can be found there for renting by any user who desires them .

iii. Rento search engine: this feature will be used by Rento platform and allow users to search for any item of their choice easily on Rento platform.

iv. Feedback feature: this feature will be built in to the Rento platform and will allow users to be able to give rating on every product and services they have shared on the platform according to their unique experiences.

v. Renting calendar: Rento has designed the platform such that anything including services that are listed on the platform shows their availability status. With this feature, users will be able to access any product of their choice as long as it’s listed on the platform.

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RENTO CUSTOMIZED BLOCKCHAIN

Rento is designed with a cutting edge technology and great features that cannot function efficiently using a shared blockchain, as a result of this, Rento is building its own blockchain with innovative functionalities that will allow a smooth running of Rento sharing platform.

With Rento customize blockchain, they will charge transaction fees when users use their blockchain, set up smart contracts, create a Rento model store for all kinds of goods and services and carry out all activities efficiently , securely and with a great satisfaction to users.

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CONCLUSION

Rento is the beat sharing platform for the next generation sharing economy, the Rento blockchain is a welcome development that will offer Rento sharing platform the opportunity of succeeding far beyond other sharing platform globally. Holders of Rento will also benefit greatly from the platform by having access to every tool and contributing to the growth of Rento platform. This is one project every crypto enthusiasts as well as the general public should embrace as Rento is designed to meet the need of everyone around the globe.

RENTO TEAM