Decentralized P2P Renting Platform. Rentything ICO rating – not rated.
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Ended ICO : 28/02/18 – 28/03/18
About Rentything ICO (token sale)
What is Rentything?
Rentything is the world’s first decentralized peer-to-peer (P2P) online renting platform using blockchain technology to build a trustable and transparent platform to encourage collaborative consumption and environmental conservation.
Rentything’s platform will only use RentyCoins. P2P renting refers to the process of an individual renting an owned good, service, or property to another individual. It is also referred to as person-to-person rental, collaborative consumption , the sharing economy and product service system . For Rentything, P2P renting, is mainly used to describe online-enabled rental transactions between individuals.
The rapidly growing demand for collaborative consumption is enabled by a combination of the following trends:
- Limited living space in dense urban environments that makes storage of occasionally used items unfeasible
- Network infrastructure and high-bandwidth penetration that enables constant connectivity and access to online marketplaces, especially ones requiring real-time P2P interactions
- Increasing environmental concerns leading to changes in user behaviour that include limiting waste, upcycling, or collaborative consumption
- Changes in consumption behaviour that replace ownership with on-demand services
Imagine being able to rent your favourite DSLR camera or ski equipment after you arrive in a country rather than checking in extra luggage. Also, imagine if you could earn some income by renting out your occasionally used gear. This is an easy win-win situation for owners and renters.
Technological evolution has led to the disruption of multiple sectors such as short-term housing (AirBnB) or taxi-rides (Uber, Lyft) through the rise of sharing economy marketplaces. Meanwhile, the traditional rental industry has remained stagnant due to cost-prohibitive processes, and lack of guaranteed credibility. Rentything ICO aims to change that.
Rentything offers users across the globe the opportunity to enjoy a fully transparent and universally applicable platform for renting that bypasses regional barriers such as payment gateways or even local currency conversions. The platform will allow assessment of renters and owners by letting them submit reviews and ratings of each other, and will also allow both parties to reference an immutable audit of rental activity using blockchain technology.
Ratings and rental activity logs will be analyzed and then used in Rentything’s proprietary scoring technology. Using blockchain technology makes this scoring system more decentralized, secure and intuitive than vertically-focused solutions that offer only one aspect of a renter’s history. The scores can be used internationally and are part of the renter and owner profiles. All personal data (rental history, credit rating, references and reviews) will be secured immutably on the blockchain. User data will be wholly owned and controlled by the said user. For example, a renter’s data is only made visible to the owner when the renter makes a rental application using their private key / wallet on their mobile and/or web app. The app enables the renter’s private key to sign and grant permission to the owner to assess the renter’s offer and history.