The New Business Model for the Shared Economy- BizShake

With the team vision of attaining a better standard of living for all, by improving on the social responsibilities of individuals through the sharing economy, BizShake is making a paradigm shift in this community by granting individual access to asset sharing in the real world. This will be done in diverse ways to achieve economic benefit. BizShake P2P sharing ecosystem integrates decentralized applications developed on the NEO blockchain is the new innovative technology to help in the transaction of the asset share at the parties own convenience without any middleman cost.

About BizShake Decentralized P2P Sharing Model

This model is quite simple and requires no intermediary. Unlike the conventional p2p Sharing ecosystem 1.0, the BizShake model integrates application where the two parties, i.e the asset owner and the asset seeker conduct transaction on the blockchain using smart contracts. The inclusion of blockchain in this model eliminates all middlemen. Here is a case scenario. Party A owns an asset wanting to let out for rent to Party B who is an asset seeker. With the help of BizShake dApp, the two parties get connected on the platform and the asset renting process only takes place on a blockchain.

So in effect BizShake stays out of the transaction processes and does not decide any charges or transaction cost for the two parties. The blockchain also provides transparency and build trust among the two parties. The BizShake principle is based on two models of sharing – the SmartRent and the SmartPawn.

The SmartRent model

This model is a simple and comprehensive one. With the SmartRent, BizShake allows a user to list an asset on the application after the asset has gone through the BitzShake process of verification and certification by experts. Now, it is the obligation of the asset owner to give a comprehensive description of the asset. In the field of IT, we will say “what is the specification?” of the asset you want to let out for rent.

According to BizShake, the user must upload pictures or a short video of the asset, spelling out the rental fee either per hour, days, weeks or month. Also, the number of such assets available for rent. This is very simple. The description also must include where the renter can locate the lessor, how the asset will get to the renter and the date for return. In a way, we will say the terms and conditions of the lessor. As part of the process, the lessor decides the minimum deposit that will be locked on the NEO blockchain before the asset is released.

After the contract is signed and transaction fee locked in the lessee’s wallet, the lessor sends the item to the receiver for confirmation. The Rental fee will then be unlocked for the lessor. I know you would want to raise a number of questions. For example, what if the lessee (renter) refuses to return the asset after using, or the asset is returned in a bad shape? Well, that is quite simple, BizShake has integrated a Smart dispute system that the lessor will activate in case such a situation occurs. My next article here reviews some of the fantastic features of the Bitzshake, including the decentralized smart dispute solution. You can also read more on this feature from the whitepaper.

The SmartPawn model

This is also another innovative idea that BizShake has instituted. Do you have an asset to let out for some time in order to get a loan? Well, this is your chance. BizShake SmartPawn is your answer. This principle is for an asset owner looking for a loan whose value equivalence is equal to the loan. Just like the smartRent, the Pawner lists the asset with full description and specification on the BizShake dApp and request for a loan from anyone. If you grant this person the loan, you get the asset as security.

The loan plus the interest rate and the duration for payback will all be decided by the pawner. The parties will then execute the transaction on the blockchain using a smart contract. Once the loan plus with its interest is paid back, your asset will then be released. Remember that the asset should be something valuable in other to grant you the loan that you request.

Conclusion

BizShake strongly believes that the idea of sharing access rights to assets among the Sharing community will positively improve people’s social responsibility while helping achieve a better living standard for all. BizShake will build the foundation of this new Sharing market paradigm based on shared community access to assets while being able to achieve economic benefit in various forms. This is the vision we hold, our number one priority.

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 50000NEO. 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