WONO Tokens Offers New Approach Towards the Sharing Economy

Published on 19 July 2018 by Cryptovest Staff

Meet WONO: a decentralized p2p platform for sharing and renting assets

The WONO project is building a decentralized environment for the sharing economy using blockchain technology.

The peer-to-peer economy (p2p) has been growing by leaps and bounds in recent years. New on-demand businesses pop up in all major consumer segments, be they accommodation, car rentals, or personal micro-skill services. In 2015, five key sectors facilitated transactions to the tune of 28 million euro in Europe’s sharing economy, and this figure may reach 570 million euro by 2025, according to the PwC report published in 2016.

The sharing economy addresses many issues, among them more efficient use of resources and flexibility of services. Nevertheless, it is often criticized for deficiencies such as platform monopolies, privacy violations, and unfair competition. Moreover, people tend to distrust p2p service providers unless someone they know and trust recommends them. The good news is that a decentralized ecosystem and blockchain technologies can eliminate most of these problems and thus take the sharing economy to a whole new level.

Meet WONO: a decentralized p2p platform for sharing and renting assets

WONO is an intermediary-free ecosystem that makes it easy to provide and contract freelance and rental services. The decentralized nature of WONO’s platform allows users to interact directly, weeding out any go-betweens and reducing costs. The whole system hinges on a set of smart contracts, which regulate everything that happens on the platform and guarantee that tasks are completed and paid for.

How WONO works

  • Customers: consume whatever the vendors have to offer.
  • Guarantors: stake tokens to ensure successful deal termination and earn bonuses.
  • Arbitrators: deal with disputes and determine the affected party in the event of conflicts.

WONO ICO details

WONO’s pre-sale is already live, while the public ICO is scheduled to start on September 3. It will close on October 1 or as soon as the hard cap of $20 million is reached. Investors willing to participate in the crowdsale can purchase WONO tokens for ETH at the exchange rate of 1 WONO = $0.5. However, early-bird investors can get discounts on the nominal price. The team plans to issue 79 million WONO tokens and put 60% of them up for sale across all crowdfunding stages.