WONO – a new multipurpose user environment for sharing, earning and spending
Remember that one vacation, when you had booked a sweet apartment in the city of your dreams, and suddenly your booking was cancelled at the last minute? Probably anyone, who has ever rented a private property, faced this unpleasant situation.
And the worst part about it: once you have found your plan B stay, you need to dive into the cancellation policy or start a long and disappointing conversation with the platform’s representatives about getting your money back. Such frustrating experience can spoil any vacation.
Another irritating thing about sharing economy rentals is pretty high prices. In spite of being promoted as “limitless opportunities for everyone”, the rentals on the platforms often cost pretty much. The reason for this is that your final price includes taxes, fees, commissions and other additional charges, that the property owner doesn’t want to pay.
And finally, no rating will ever show you that your owner will suddenly change his/her mind and exclude his/her property from the list of available assets. Especially, when the owner is new to the platform. Of course, it’s up to you to take this risk, but what if we could avoid the risk and protect our decision?
WONO – a Malta-based startup promises to solve these problems and provide its users with vast opportunities.
What is WONO?
The business concept is based on the idea that the main benefits of blockchain can be easily implemented into a traditional sharing economy-style platform for rentals. Combined with the opportunities, that the platform offers its users, the new generation of rental environment will help to avoid almost 100% of risks, a customer faces.
Smart contracts will be used to control all transactions between vendors and tenants and guarantee that without a received service, the money won’t be transferred.
Token-based transactions will let asset owners finally get rid of extra charges and decrease the prices. In most countries, tokens are considered digital assets and are non-taxable until they are withdrawn.
This leads us to the last and perhaps the most exciting part of the WONO idea – a fiat-free environment for sharing, renting, earning and spending in tokens.
You can list and rent out your flat in the USA by signing a smart-contract, which guarantees that your tenant will pay for the rental. WONO has a trusted deal mechanism which lets you spend tokens locked in your smart contract, and yet to be paid in future, immediately. So you can choose any flat in Europe you like, don’t care about currency exchange (WONO token is the same in every country). The transaction is so cheap and easy that you can easily afford a rental of a bigger home or a private car rental in addition.
What is more, it’s not the only property that you can list on WONO. Freelancing is considered sharing of human resources, so it’s also possible to be shared on WONO. In fact, it’s a community-based global marketplace for everything in people’s possession which can be safely and easily exchanged and traded on the blockchain.
Proof of concept and token crowdsale are scheduled to the end of July.