BIZSHAKE: BRINGING COOPERATIVE CONSUMPTION ON BLOCKCHAIN

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Hello steemians! Heard of bizshake?

I bet not. You probably do not know it's a blockchain project much less what it's all about. But no worries, I’m here to acquaint you with every basic detail of it that you need.


So let's begin with the basics by attempting a definition of the concept of cooperative consumption itself. Bizshake sees cooperative consumption as a market paradigm in which

“Instead of buying and owning things, consumers are more and more opting for access to goods, paying for the experience of various forms of sharing” (Bizshake whitepaper, pg10).

Cooperative consumption is therefore a market system that has to do with sharing of goods/assets among users at some little cost. Cooperative consumption can take the form of renting or pawning of assets among users. These two are the model of cooperative consumption that bizshake platform adopts.


As a market model, cooperative consumption has huge potentials that are largely unexplored. Little wonder that bizshake is delving into it with the hope of achieving mass adoption of the market system and by so doing, bettering the society.


Cooperative consumption or p2p sharing economy as it is otherwise known is quite different from traditional rentals that I’m pretty sure we know all too well of. In traditional rentals, the rental business owners buy and own the products/asseets and make them available to those that need them for rent. In p2p sharing system on the other hand, the assets for rent are owned by different individuals who are themselves users on the platform. In our present context, the assets that would be rented and pawned on bizshake would be owned by various users on the platform and not by bizshake itself. Bizshake merely provides a platform (marketplace) where these individuals would meet with those in need of items to rent so to transact or share their assets with them. So in a sense, bizshake would merely act as a bridge for demand and supply in the cooperative consumption economy.

Cooperative consumption or P2p sharing economy has high social and economic benefits for both lessors/lessees and lenders/pawners on the platform. It also has more prospects and advantages over traditional rentals. Some of these are highlighted below:

Advantages Of Cooperative Consumption/Peer-to-peer Sharing Economy Over Traditional Rentals

• Socially p2p sharing economy enables social bonding among users irrepevctive of their profession and geographical locations hence, a peaceful coexistence among users.

• Economically, cooperative consumption generates more revenue and has more growth potentials compared to traditional rentals

• Cooperative consumption also impacts positively on our environment - it helps check unnecessary wastages. Users get to rent out assets they do not need any more and benefit from it instead of discarding them. Also those in temporal need of some assets are able to get them by lease instead of wasting their money buying those items new.

• Cooperative consumption reduces cost of living since one won’t have to order for new goods/assets each time one needs them. These are often more expensive than the cost of shared/leased assets.

• P2p sharing economy is decentralized by nature while traditional rentals are centralized. This implies traditional rental business owners process every transaction pertaining to a given deal while in p2p sharing the transactions are done by the various individuals involved. On the bizshake platform however, every transaction would be executed by the blockchain itself without involvement of the team since the project is blockchain-based.

• Bizshake also has added advantage over other p2p sharing platforms in the sense that it charges minimal fees compared to other platforms.
  
  

Dispite these advantages, a major challenge with cooperative consumption is the lack of trust among users. Users have concerns in leasing their assets both to and from others that they do not know mainly because they have no guarantee of the quality of the assets. Bizshake aims to solve this challenge by offering a p2p sharing platform where trust is a pivot key in transactions and every interaction. This it would achieve with its innovative features which include among others, verification of users; verification and certification of assets listed for lease to ensure it's of good quality and prevent theft; utilizing blockchain technology to ensure decentralization transparency in transactions, etc, etc.

These features, I believe would aid the sharing industry grow to its full potential in a short time.

Bizshake as a peer-to-peer platform would have sub-communities which might be based on shared interests, so be on the lookout for whichever would suit you.


Every information you need on the bizshake project is available on their official website at: https://www.bizshake.io
And their whitepaper: https://www.bizshake.io/sites/default/files/BizShake_Whitepaper_1.2_ENG_2.pdf


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Bounty0x username: marthahunter