Today’s most successful innovation ecosystem is probably located in the Silicon Valley in California. On the spot, entrepreneurs help other entrepreneurs for free. It is based on a simple concept called the pay-it-forward culture which was established in the 1970’s. This concept has not changed significantly since then. So how can we adapt the valley concept into the digital age?
We at rent24 constantly work on understanding what makes a great ecosystem and how it can be improved for the entrepreneurs who inhabit it. Finally we created PRIMARY, a blockchain powered platform, which functions as a bridge to the existing infrastructure we already built. It is the first use case of blockchain technology that connects the digital with the real world.
The vision for a worldwide network
Our operations started in 2015 driven by the belief in the power of a globally connected community, new technologies and their potential to make an impact on the world. Initially rolled out with a focus on affordable office solutions we became one of the fastest growing networks of facilities built around the needs of founders, creators and innovators.
The existing ecosystem of today
Today we offer coworking and coliving at 35 locations on three continents providing an elaborate infrastructure.
We created a broad fundament for an international community that is highly diversified offering unlimited potential. Our goal for the next year is to have 120 locations in metropolises all around the globe.
In short, we operate a proprietary ecosystem, designed to generate innovations and to build scalable businesses:
- Members are the best in their fields, which we select with the help from our artificial intelligence (AI) engine and assessment process based on individual skills and actual projects.
- We then find the suitable work environment providing our clients with a diverse community of like-minded people.
- Additionally we supply each resident with resources to maximise their chances of large-scale success.
Our model is relatively simple, based on the idea that the entrepreneurial ecosystem has three characteristic ingredients:
- like-minded people with know-how
- locations with a professional focus in regard of the composition of tenants (e.g. fintech, Blockchain, AI, logistics, media)
- additional business services as well as venture capital for the formation of promising startups
All members have access to locations with a unique ecosystem in major cities, each one functioning as a center for collaboration, knowledge transfer and groundbreaking ideas.
The future ecosystem in a nutshell
The main idea is that we create a system where users are incentivised to be an active part of our community by providing them token rewards for actions that are beneficial for the entire network. It is a system that can be implemented immediately and create real value from day one.
- We connect all 35 operating communities on a digital decentralized platform. This platform offers a marketplace for services and a powerful reward mechanism which encourages every member to participate, collaborate and share knowledge with other members.
- Every member can use the token they earn directly for goods and services within the rent24 ecosystem, like booking a workspace, having lunch at one of the restaurants etc. All done in a convenient and fast mobile application based on the blockchain. This physical ecosystem is already in place so there is no need to wait and hope it will become a reality at one point in the future.
What differentiates PRIMARY from other projects is the connection to an established community and third party user base. Our token will be spendable both inside the rent24 ecosystem as well as partnering businesses.
PRIMARY — The upcoming features and announcements
We have three major upcoming features as well as announcements for the benefit of our growing community.
- rent24 deals with partnering businesses that aim to increase the quality of life within the rent24 ecosystem will increase in numbers. The system is open to shops, restaurants and other service providers accepting PRIMARY tokens and gaining access to a huge new customer base.
The current list of partnerships is significantly diversified and gives already plenty of choices, but we will add further attractive deals to increase the rent24 ecosystem. They will be available both offline (e.g. discount on a nearby restaurant) and online (e.g. free ride at carsharing).
- rent24 blockchain hubs are another important focus area. These new locations are fully equipped campuses with coworking (open space, coding rooms, team meet-up areas, etc.), coliving facilities, restaurants, activity rooms, lounges, event spaces, fitness and recreation areas.
Each hub will be specialized in crypto and blockchain technology accessible only for curated members strongly associated with this technology. Members will be selected by their unique background and potential contribution to the community, which in turn strengthens the value creation in the ecosystem.
The first rent24 blockchain hub will open in Q4 2018 in central Berlin. Further campuses are being prepared in New York, London and Moscow.
- More coworking spaces are joining the network. We have already successfully integrated several coworking communities in Europe and North-America into our ecosystem, which are being continuously announced.