Rento : Global Sharing Platform for Businesses and Individuals

Rento : Global Sharing Platform for Businesses and Individuals

Bounty
December 6, 2018 by XNews Editor 3
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Rento is proposing a global sharing platform for businesses and individuals that allows the renting of underutilized assets.
Rento Global Sharing Platform for Businesses and Individuals

Rento is proposing a global sharing platform for businesses and individuals that allows the renting of underutilized assets. Unlike competitors in the market, Rento will rent any item to any individual rather than focusing simply on one market (cars, apartment share). Furthermore, Rento leverages blockchain technology to implement a trusted economy through smart contracts that ensure rental conditions are met and that the parties can count on one another to deliver and return the product or service.

Solution

Rento is creating a software solution for individuals and businesses to share items and services that, until now, needed to be purchased. The Rento solution is based on the increasing “sharing economy” market, but rather than focus on one vertical, Rento is providing a complete solution,including smart contracts, for anyone to rent or borrow any item or service. In the same way thate-commerce sites such as eBay do not limit themselves to one type of item, Rento is providing the sharing economy marketplace. Rento is leveraging blockchain technology for the smart contracts that ensure trust throughout the system.

Competition

Rento aims to expand the sharing economy to untouched industries, and it will quite likely face stiff competition from established players. Airbnb, operating in the hospitality/real estate rental space, and Turo, operating in the personal car rental space, are among its primary competitors.However, these competitors are limited in both their reach and the range of items offered. For example, Airbnb is focused only on the rental of vacation spaces, whereas many people need temporary office space as well.

Profit from the First Global Sharing App

Rento creates an ecosystem for the development of sharing economy. Not only can you reduce consumption, but also profit from sharing unused things you already own. At Rento take care of our investors. By producing cutting edge blockchain technology for securing transactions between users, we create demand for Rento token. While using our blockchain will be optional on our app, it is safe to assume that more users we have the more our token will be worth. 

Challenges

  • Highly concentrated growth

The global sharing economy is limited to a handful of industries, including hospitality, automobiles, and real estate. There has been limited innovation in other industries, despite their huge potential.

  • The need to install multiple applications

The growing number of applications fight for the users’ mobile computing resources and maintaining multiple apps is inconvenient for customers. It seems logical that there will be a consolidation, similar to eBay and Amazon, rather than multiple platforms for different sharing items.

Rento Blockchain

Rento is creating a proprietary blockchain with specific features that are essential for the sharing economy. The chain for Rento will be used specifically for the sharing economy. Because it is an independent blockchain, Rento is able to develop the chain specifically for the implementation of this business model, ensuring that it is the best database customized specifically for the needs of the Rento ecosystem.

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