WONO - THE RELIABLE AND COMMUNITY DRIVEN MARKETPLACE SET UP TO VITALIZE THE SHARE ECONOMY WITH BLOCKCHAIN

stormyblue154 (25)in #blockchain • 6 years ago

ip.bitcointalk.org.jpg It is seen that the humans co-exist for particular reasons. Among these reasons is the ensuring sharing and collaboration. Therefore many forms of human interaction involve exchanges. A typical example is the exchange of things of monetary value. The modern form of exchange is the peer-to-peer decentralized exchanges that exist with the creation of the #Blockchain Technology, #Cryptocurrencies and trading platforms. The decentralized exchanges have proven to be safer, easier and take away middlemen involvement. Having known a project called WONO has been set up to offer the best of products and services pertaining to the sharing economy with the help of the Blockchain.

WONO is an #Ethereum - Blockchain based platform that enables a decentralized peer-to-peer (P2P) exchanges of property and services between and among its users globally. You can also think of WONO as the Blockchain based P2P marketplace that ensures that sharing and rentals of services and property are done at low prices, freedom and trust. #WONO allows an unlimited range of people at located all around the globe including freelancers to share anything of choice, for example homes, vehicles, time, talents and much more. Because WONO enables P2P, both parties thus ‘owners and receivers’ co-exist at the same decentralized marketplace with no currency exchange rates or taxes. So without middlemen, WONO creates a reliable environment where one can spend and earn. In the sense that, WONO enables the exchange and rental of all forms of assets or services without currency and taxation expenses.
By capitalizing on the benefits of the Blockchain, WONO could be seen as a transformed form of companies like Craigslist or Airbnb; which is a new paradigm of economic P2P
interaction based on decentralization, transparency, mutual trust, reputation, and collective
decision-making by members of the community. The WONO Token will be the utility cryptocurrency which powers the WONO marketplace ecosystem.

MARKET OF THE SHARING ECONOMY
The sharing economy is growing massively with the number of sharing services increases. This economy is hugely dominated by freelancers and in they are booming in developed countries. It has been predicted that the majority of the workforce of US by the year 2027 will be freelancers. This is evidenced by the facts that already 50% of the Millennial workers
are currently freelancing and it has been recorded that freelancers were responsible for an estimated $1.4 trillion of the economy.
But the share economy suffers some problems. These problems presents difficult situations to freelancers. These problems include:
-High commissions charged by middle men.
-Lack of trust which result in uncertainty that the deal is reliable and non-transparent ratings and reviews.
-Monopoly dictates

THE SOLUTIONS PRESENTED BY WONO
-The WONO Token will be used as the standard Token to reduce the expenses incurred by all parties involved in the sharing economy. The system of using WONO Token as the single currency is projected to reduce the cost of the exchange deal from over 30% for off-chain services to 1%-5% of the asset price. This is also significant to using more than one Blockchain service for different purposes as that also incurs a cost of 10%-12%
-To promote reliability, the execution and payments are guaranteed by smart contracts. Smart contracts also regulate the deals automatically and help to remove middlemen.

The decentralized and distributed Blockchain Technology ensures that the records are open.
-Monopoly is cancelled since the platform is regulated by the user community.

HOW THE WONO ENVIRONMENT WORKS
WONO uses Ethereum blockchain, which by nature is a bundle of connected smart contracts that are accessible through decentralized applications.
WONO offers its resources for third-party start-ups and lets them improve their businesses
using blockchain technologies, boosting the liquidity of their market segments and
cryptonomics at large.
The WONO environment consists of the following three main components:
• WONO PROTOCOL: a set of decentralized apps (Ethereum smart contracts as
DAPP backend) implementing the WONO business model;
• WONO API: accelerator (DAPP caching service) of the WONO Protocol;
• WONO CLIENT: official client Web application (frontend DAPP) used to work with
the WONO API and WONO Protocol.

TOKEN ECONOMICS
WONO is the official cryptocurrency for the WONO ecosystem. It is a utility token which is ER20 standardized. Among the players of the ecosystem including the WONO platform and DAPPs, based on the WONO API, the WONO token can be used for the following activities:
-All P2P payments on the platform as an internal currency
-Transaction security as a reserve
-Crowd insurance and crowd arbitrage.