Peer-to-Peer shared service has become known in the developed countries as aid and means to earn extra. There has been an increase in the shared economy over the past few years and it has been projected that it will continue to increase as technological advancement is on the increase in the next few years. Peer-to-Peer shared service talks about offering one’s personal property such as cars, real estate etc. for others use in other to gain money or credits. These credits can be used to obtain services from other people. The P2P shared services have been used in different sectors such as accommodation, transportation, services, finance, goods, software and digital entertainment.
For example in accommodation, Mr. A can offer his house to Mr. B to stay for a period of time while he is out of the country. With the credit he earned, he is able to use Mr. C’s apartment, and Mr. C can use the earned credit to stay in Mr. D’s House etc. this is usually controlled by a centralized body or system that charges intermediary fees.
In transportation, for example, Uber services, allows car owners to rent out their cars for a short period of time to drivers and earn. Fees are also paid to the controlling body or intermediaries.
Peer-to-Peer shared service in Nigeria
Nigeria also had a foretaste of Peer-to-Peer shared service in a way that helped many. The MMM services came into Nigeria with a vision to help the needy overcome their financial challenges. A member of the platform will be paired with the needy and as he offers the financial help, he is able to get financial help in a month (usually with 20% increase). All other Peer-to-Peer shared service came into the scene after some months that the MMM boomed.
The gloom of Peer-to-Peer shared service
Many people benefitted from the P2p shared services that came into the Nigerian economy in the year 2015/2016 but it all came to an end when people started to cheat the system with fake proof of payments for offered help. Many others wish to become rich in a short while through the referral system by creating multiple accounts. Over few months people lost trust as there was no transparency, and with many other challenges, the service froze and then came to an abrupt end with many people losing their funds.
In the developed nations, intermediaries charge a lot of fees, which significantly lowers the earning power of the owner and increases the cost for the user.
Researchers have shown that many people will not use Peer-to-Peer shared service unless it is recommended to them by someone they trust.
Wono – The Solution to Peer-to-Peer shared service
WONO is a decentralized P2P (peer-to-peer) platform for exchanging any property and services. Thanks to Ethereum blockchain and the Interplanetary FIle System (IPFS), the platform and community are decentralized, which allows users to interact without a middleman.
Wono is a platform that uses the blockchain technology and smart contracts to solve the existing problems of Peer-to-Peer (P2P) shared service. Wono is based on decentralization, transparency, mutual trust, reputation etc.
Wono allows the Peer-to-Peer exchange of any property and service without a middleman, this is made possible by the blockchain and Interplanetary File System Transfer (IPFS). It allows users to freelance or hire freelance, rent or rent out cars and real estates, etc. With Wono, the fiat currency exchange fee and international transaction costs are eliminated thus reducing travel and business trip expenses. This is because Wono is built on the blockchain and it uses cryptocurrency as the mode of transaction. Wono allows the use of cryptocurrency in exchange for the physical asset.
The aim is to facilitate a seamless exchange of goods and services between users built on mutual trust and transparency, eliminating middlemen or intermediaries while lowering transaction costs no matter the location.
Since cryptocurrencies are considered as digital assets and not money, it is not taxable. This excludes all holders of the Wono token from taxes.
Wono is not only usable in one sector as many other blockchain based services, but it is applicable, relevant and active in many other sectors such as transport, misc. asset, space, services, etc. Wono has a reputation system that facilitates trust.
Deals on Wono
A customer can use the Wono token to rent an asset from the owner or order a service from the vendor. Apart from the direct deal where the rent of an asset or services is paid for, users can engage in other kinds of deals available on the platform such as Trusted deal, Back-to-Back deal, Chain of Deals, etc.
Wono and Artificial Intelligence
The platform uses Artificial intelligence through machine learning to help suggest or recommend services that best suits the need of the user. The AI is able to predict, with the use of data such as needs, interests, search requests and behavioral profile of the customer. Through the data collected, the AI on the platform is able to rate each user.
For further information on Wono, you can read:
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