How this Blockchain Startup is disrupting Car Sharing Industry
Car sharing is a rapidly growing industry, where it’s estimated to reach $16.3B by 2024. The car-sharing market aims at providing a cost-effective solution for vehicle owners to earn money while their car is sitting idle, and providing affordable transportation solution to people, who don’t have a car.Whether older generation still prefers to own their personal vehicle. Younger Generation is currently a rapidly growing market for car sharing.
At the forefront of the P2P (person to person) exists an almost insoluble problem: establishing trust between strangers.
Before the emergence of blockchain technology, this problem was extremely difficult to solve. Companies that have been on the market for many years have not solved it, thus on the Internet, there is a growing number of negative experiences. In the past users who have been deceived or cheated have had no recourse.
Therefore it is extremely important to develop a decentralized, more sophisticated system that will allow users to trust each other, exchange products or services in a transparent and secure way.
Darenta is a P2P car sharing platform based on geolocation as well as blockchain and smartcontract technologies.
Through the introduction of distributed registry technology and smart contracts, Darenta the online P2P car rental platform can help users trust each other.
The project has existed for almost 4 years and during this time has acquired almost 1,000 cars and more than 5,500 users in 121 cities around the world. In late December 2017, Darenta started its ICO. The ICO will enable the start-up to collect the necessary capital for the development of the product as well as the ability to develop and integrate the necessary functionality. In turn, users will be able to use the purchased Tokens (coins) within the platform.
By verifying unchanged data with a decentralized network and users who have been authorized, it becomes possible to record honest feedback, a clean user rating system, and a transparent history of vehicle use. Also, with the help of the blockchain technology deals can be concluded at much higher speeds and with much less effort. For example, procuring short-term insurance will occur in a few clicks, which will speed up the conclusion of deals.
To participate in the ecosystem users will be able to use Productoken (PROD) tokens as well as usual currencies. Tokens will act as a bridge between car owner and car renter and can be earned in a number of ways. Users will be able to leave feedback and earn tokens, which they can then use to get services at a discount. Additionally, those who use tokens will have access to enhanced platform functionality. All data about finished transactions will be instantly recorded in the blockchain. Tokens will facilitate fast and secure payments between users who will be able to use the platform around the world.
Those who participate in the ICO, help build a better and affordable system of car sharing.
The Darenta’s White Paper outlines plans for the development of the project. Already in the first quarter of 2018 is expected to integrate use of blockchain technology into the platform and active expansion into many countries. A successful ICO will make it possible to improve the platform and introduce new technologies to increase the effectiveness of the Darenta car sharing method.
Originally published at news.icostream.org on March 2, 2018.
