Introducing BizShake to the Sharing Economy. Is this a new revolution

After taking a critical analysis of how useful the blockchain technology is, and pounding over its evolvement over the last decade, I have come to realize the impact that this technology is making on almost every sector of mankind’s life. We have all seen several successful blockchain-based innovative projects in the financial economy, health sector (Shivom project Skychain project), data sharing and management (Pdata and Aizeus project - yet to be launched), blockchain project management communities (BountyOx, Bountyhive, and AmaZix), and the e-commerce society. Yes, this technology is doing great.

Let’s also remember that we cannot own everything in this world. This is an undeniable truth. Thus, at a point in everyone’s life, he/she may need an asset to rent or let’s say hire in order to complete a particular project. So just to say, “Sharing” is an important factor in the everyday life of man. This is why the Sharing economy has not been left out in the revolution of blockchain technology. With BizShake, the Sharing economy is about to take a revolutionary trend and this article will review to you the BizShake innovative idea for the sharing economy.

Now, the Sharing Economy and BizShake

The global sharing economy is experiencing a significant growth and according to Roland Berger’s report on the sharing economy, it is expected that the market size for this economy will hit around 520 billion US dollars this year. As the growth rate of this economy increases rapidly, especially due to the high demands of assets renting, there are several problems exposed in this disruptive business such as Excessive transaction costs, Centralized platforms, High commission fees for service matchmaking and delivery, the big problem of trust. There is also no effective credit system reflecting both individual credit and organization credit. Also, the sector experience excessive data leakage and abuse due to the centralization data storage mechanism.

Well, you can now testify that if these enormous cankers are not resolved, the rapid growth in the Sharing economy will begin to decline at a rate faster than its growth. This is where BizShake – the P2P Sharing Economy based on the NEO blockchain comes in to make its impact in this sector.

Is there anything unique that BizShake wants to introduce into the sharing economy?

Well, the answer is obviously a big ‘Yes’. The sharing industry is pioneered by the Business - to - Consumer/customer system (B2C model) and in this model, assets are owned mainly by companies or cooperate entities. These companies will then make the assets available for rent to users. Thus, the company decides the rental fees and, service charges and the penalty to pay in case the asset is not returned in a good shape (decisions are highly centralized).
The B2C model has been in the system to date and still in operation. One of the biggest problems with the B2C model is “Trust” of quality of product and services delivered by these companies.

Many individuals would only rent assets from companies or platform they really know or perhaps, may have been recommended by others. Apart from the issue of trust, asset usage time may be very short if the company owns very few of such assets for rent. Examples of such sharing companies are B-cycle and Zipcar.

A current model introduced into the sharing economy is the P2P Sharing Economy 1.0. This is a peer - to – peer system of sharing that provides room for any person owning an asset to let it out for rent. Unlike the B2C model, the p2p system always has an intermediary, thus, the third party to execute the transaction. The platform provides market access to the two parties, the asset seeker and the asset owner. Usually, these platforms charge huge transaction fees from both parties and transaction can be very slow sometimes. This system is also more centralized and does not give the asset owner and seeker the room for decision making concerning rentals. Read more from the whitepaper [here](

Now, what is the new model? I call it the BizShake p2p model. BizShake is going to make the p2p Sharing economy more decentralized by building a decentralized application that creates a platform on the NEO blockchain. In the BizShake asset sharing model, blockchain will execute the transaction for both parties at their own terms and condition using a smart contract. The application is very detailed yet comprehensive and operates on two different renting principles, principles – the SmartRent and the SmartPawn. Visit the BizShake website

Well, I already informed you that BizShake is in for good and will take the Sharing economy to the next level. BizShake eliminates middlemen by connecting these parties directly. BizShake does is not involved in the transaction execution these parties, but rather grants shared right to access. Blockchain does all the transaction. The SmartRent as the name implies, is basically for renting asset whiles the SmartPawn is for small loans.

BizShake Token Economics

BizShake has already launched its NEP-5 compatible token for sales dated on 1st October 2018 and sales will continue till 31st October 2018. The expected soft cap target for the BizShake project to be carried out is 50,000NEO. Just like any other blockchain based project, the total BizShake token for the project available for sales is peaked at a value of 100,000,000 BZS. The token symbol is BZS. You can visit the website if interested and join the token sales now.

Just in case you want to participate in token sales, the details of the tokens are shown below;

Total tokens quantity: 200,000,000
Token Available at Sales: 100,000,000
Token ticker: BZS
Token type: NEP-5
STO event dates:
Private sale: • Start date: Oct 1st, 2018 • End date: Oct 14th, 2018

Crowd sale: • Start date: Oct 15th, 2018 • End date: Oct 31st, 2018

Accepted Cryptocurrency for the STO event: NEO, GAS, ONT

Private Sale (Oct 1 – Oct 14): 40% (1 NEO = 260 BZS)

Minimum contribution for Private Sale: 1,500 NEO or equivalent

Crowd Sale Phase 1 (Oct 15 – Oct 18): 25% (1 NEO = 230 BZS)
Crowd Sale Phase 2 (Oct 19 – Oct 21): 15% (1 NEO = 215 BZS)
Crowd Sale Phase 2 (Oct 22 – Oct 25): 10% (1 NEO = 200 BZS)
Crowd Sale Phase 2 (Oct 26 – Oct 31): None (1 NEO = 185 BZS

Relevant links to BizShake
website: https://bizshake.io/
Whitepaper : https://bizshake.io/sites/default/files/BizShake_Whitepaper_1.2_ENG.pdf
Telegram page : https://t.me/bizshake

Authorship
Bountyox username: sergioramos