What's up guys? I wanted to strike up a convo on the sharing economy and how blockchain technology is transforming this age-old sector into a newly revitalized area of economic growth. Sharing assets has become extremely popular over the last decade and the introduction of blockchain technology to the sector seems to be the catalyst needed to take the sharing economy to the next level.What is the Sharing Economy?I figure I should start off at square one for all of you who are not familiar with the term "sharing economy". The sharing economy is the economics involved in Peer-to-Peer asset sharing of goods and services. There are already a couple famous sharing platforms that you are most likely familiar with such as Uber or Airbnb. Both of these organizations allow participates to earn extra cash for sharing their services and property.The Sharing economy has experienced record growth over the last five years and today you can share everything from your leftovers to your dog. While platforms such as Streetbank, which allows you to share anything with your neighbors, are built on local trust, blockchain-based systems could create a more secure sharing environment for everyone involved.Blockchain Sharing PlatformsThere are already some well-known blockchain-based sharing platforms in operation such as Power Ledger. The Power Ledger platform allows participants to share their excess electricity and earn crypto for their contributions. This is an innovative concept that has been eyed by numerous governments including China's State Electricity firm.Blockchain is the FutureBlockchain technology allows for the automation of the monitoring and profit distribution of a sharing platform. This makes it possible to share anything with an exactness that would have been unachievable only a few years prior.There are already a number of digital storage platforms that allow users to share their unused hard drive space in exchange for crypto. Filecoin, Sai, and Storj are some of the most popular in operation in the marketplace at this time. The innovative minds behind the ULabs project are taking this concept even further by providing a portable hardware solution to the market.Share AnythingThe sharing economy is booming and this is why you can expect to see continued development in this sector. The platform ShareRing takes this concept to an entirely new level by allowing users to share anything via the ShareRing protocol. ShareRing developers are creating a specially designed blockchain network that will utilize two tokens to provide users with the ability to share, literally, anything.The ShareToken (SHR) is used as the platform's utility token, while the SharePay (SHRP) token is used as the currency within the platform. SharePay is earned by sharing your items on the platform such as renting out your home or car, or by becoming a network node. ShareRing is transforming the sharing economy by creating a universal platform that combines the security of blockchain technology with the convenience of sharing platforms already in existence.Share Your ThoughtsIt is exciting to see how the sharing economy continues to develop and there is no doubt that blockchain technology will play a major role in shaping this economic sector for years to come.What do you guys think? Are you ready to "share" your way to some crypto? (lmao) Let me know and let's chat.
Submitted May 30, 2018 at 02:35PM
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