In the near future OkeyDokey plans to bring real estate rentals in an accessible manner for both property owners and guests using blockhain technology. Some of the benefits of such a system include the low cost of payment, accessibility, speed and security.
However, moving forward OkeyDokey has bolder plans — to implement asset sharing for just about anything you could think of that’s worth sharing with the community around you. This includes cars, yachts, guitars, paddleboards and so much more. It will affect society in some interesting ways that could prove to be revolutionary.
The idea is to improve effectiveness and efficiency of the existing assets in the world. The majority of our possessions and assets are sitting idly by without being used and it might be the case that someone in your neighbourhood has a strong need for what you have. It’s a win-win for both parties — The asset owner can monetize their belongings and the person renting has access to something they need to rent but doesn’t make sense to buy.
Does this utopia type asset sharing seem too good to be true? OkeyDokey is developing a platform where it’s possible because of the accessibility, ease of payment and efficient management.
Accessibility is key
The system needs to be accessible to as many people as possible. This ensures that there will be a comprehensive range of assets shared and the idea is to bring assets to everyone in a community, not just to a select few.
There is no barrier for anyone creating an account and sending payment to the property owner. Payments via the blockchain network are handled differently to using traditional banks. There are no restrictions for who can sign up and get started.
OkeyDokey makes use of smart locks, which are connected to the internet and will disengage when the guest makes a booking and wants to check in. Access is automatically granted, which means the handling of transactions in automated.
Ease of payment
One of the key strengths of the blockhain technology is that anyone can make payment in a fast and low cost manner. There are no border restrictions or conversion fees that typically people get frustrated with. The low cost of payment means more profit is made for the asset owner and the cost of renting may be reduced.
The payment is secure because the blockchain technology requires that each node of the network must verify the payment. Therefore, there is no way that the system can be “gamed” when it comes to the security of payments.
If you had up to 100 assets that you’d like to share, then management could be a real headache without a well setup system. OkeyDokey reduces the amount of hands-on time that’s required as smart locks allow access without the need for the asset owner to be there in person. In fact the property owner can be on the other side of the globe and rent out their assets without doing anything at all.
The management system allows payments to be verified and received automatically, and bookings are executed without the need for any interaction. You just take a look at what’s being hired and take the profit — it’s an attractive proposition for asset owners interested in monetization.
The idea behind OkeyDokey is not to create a wealth redistribution scheme, but instead to decrease the income disparity that’s becoming an increasingly big problem around the world. It will lead to a better society as more assets are available to the average person that previously may not have been.
Furthermore, the pressures on the environment will be reduced as the amount of waste that’s created is decreased. Instead of throwing things away we can rent them out. There is no need to buy an item that you need, instead rent it out and consequently, fewer things will need to be manufactured to meet global demand.
In the end it’s all about creating a better society by giving more people access to things they would not be able to afford. The ideas that OkeyDokey has now is just the start and the expectation is that the number of asset sharing services will grow as the technology is implemented as is allowed to flourish.