WONO ICO REVIEW | A DECENTRALIZED P2P MARKETPLACE

WONO is a P2P platform for rentals and freelancing. due to Ethereum blockchain and therefore the heavenly body filing system (IPFS), the platform and community square measure decentralized , that permits users to move while not a middlemen. WONO combines functions of Airbnb, Turo, Upwork and TaskRabbit on blockchain. WONO solves five major issues of P2P economy: high commissions, taxation of vendors, non-transparency of ratings and reviews, currency exchange loss and risk of fraud and deal cancellation. WONO users will act in four completely different roles at a similar time: merchant (rent smth out or perform jobs), client (rent smth or post a job), patron (stake for prospering deal termination) and arbiter (determine affected party in disputes). WONO users will earn and pay tokens on one platform that lets them ne’er withdraw tokens and de jure avoid any reasonably taxation or exchange loss.

About WONO

WONO is a decentralized P2P (peer-to-peer) platform for exchanging property and services. Thanks to the Ethereum blockchain and the Interplanetary FIle System (IPFS), the platform and community are decentralized, which allows users to interact without needing an intermediary. WONO offers the environment for hire and rental tangible and invisible assets, as well as ordering and performing services based on Ethereum blockchain and the Interplanetary File System (IPFS). The project’s aim is to arrange ideal conditions for a convenient exchange between users with minimal transaction costs, regardless of location. WONO is a bridge between the cryptocurrency community and the real world. It allows consumers to use cryptocurrencies for physical asset rentals and the hiring of freelancers. The WONO platform is designed for several traditional sharing economy segments and freelancers. All tokens users earn by renting out assets or performing jobs can be spent on the platform without any limitations.

Main Features :

  • WONO combines functions of Airbnb, Turo, Upwork and TaskRabbit on blockchain.
  • WONO solves 5 major problems of P2P economy: high commissions, taxation of vendors, non-transparency of ratings and reviews, currency exchange loss and risk of fraud and deal cancellation.
  • WONO users can act in 4 different roles at the same time: vendor (rent smth out or perform jobs), customer (rent smth or post a job), guarantor (stake for successful deal termination) and arbitrator (determine affected party in disputes).
  • WONO users can earn and spend tokens on one platform which lets them never withdraw tokens and legally avoid any kind of taxation or exchange loss.
  • Marketplace for homes, cars, jobs and any kind of physical or invisible assets.
  • Direct deals, exchange deals (with a single commission for 2 assets), trusted deals (to spend tokens which are yet to be earned in future) and chain of deals (trusted deals with multiple parties).
  • Transparent asset and user ratings.
  • Crowd deal insurance and crowd arbitrage systems.

WONO How it works

The WONO platform uses Ethereum smart contracts to facilitate the process of renting out assets under a sharing economy or performing jobs as a freelancer. Users earn and spend Wono tokens within the ecosystem

Users acquire reputation scores and ratings while participating on the platform. Disputes are handled via a process called ‘Arbitrage’, which is a deal cancellation dispute mechanism using decentralized voting that is stored in the Ethereum network as a smart contract.

Physical assets or services offered by users are simply known as ‘Assets’. All the terms for an asset are stored on smart contracts.

Customer: Customers hire freelancers, order services such as a car ride or a rented apartment, or rent out any assets in possession of a vendor (e.g., gym memberships, gadgets, instruments).

Arbitrator: During a deal dispute or cancellation, the arbitrator is tasked with voting on which party should be fined, and which should be compensated. The Arbitrator stakes their own tokens when voting to ensure that they vote fairly. After the voting process is complete, the arbitrator gets their tokens back plus a bonus, which comes from professional insurers connected to the platform.

Guarantor: The Guarantors job is to confirm that a Deal between 2 parties will be successfully executed without any problems. The Guarantor does not insure the Asset but rather the risk of a Deal cancellation.

The Guarantor stakes their tokens until the deal is successfully concluded. Then they get their deposit back plus a bonus from the insurance part of the Commission.

Vendor: Vendors rent assets and perform tasks for customers in the peer-to-peer economy. Vendors are paid in Wono tokens, which are administered via smart contracts.

There are 4 core components to Wono’s P2P economy:

  • Space sharing: Combines the concepts of P2P rentals (like Airbnb) with home swapping
  • Transportation sharing: Uses the Turo/Getaround model where a person can hire or rent out a vehicle for any desired duration
  • miscellaneous assets sharing: Users can hire and rent out any assets in their possession (e.g., gym memberships, gadgets, instruments)
  • Services sharing: Combine the Freelancer/Upwork model for remote jobs and TaskRabbit for micro jobs.

Realty

The sharing of residential properties has become increasingly popular over the past four to five years. Much of it relates to the success of one of the industry’s largest players: Airbnb, which was launched in the United States in 2008. According to PwC, 6% of the US population have participated as consumers in the hospitality sharing economy, and 1.4% have participated as providers. Juniper forecasted in 2016 than 5.3 million properties would be rented for residential stays in 2017, with naming United States, France, and the United Kingdom as the major markets for Airbnb. Despite the forecast failure, providers currently have more than 4 million listings around the globe, allowing users to book rooms or even whole properties in a variety of locations.

Transportation

While many traditional taxi services now offer apps for bookings, for the purpose of this research, we will only focus on private vehicles being used to disrupt the transportation industry, with drivers seen as contractors rather than employees. Online ridesharing platforms have been successful due to their use of a large volume of
vehicles driving around with a perceived spare capacity. By pressing the idea that drivers can make additional revenue and that users can help protect the environment (as well as receive an efficient on-demand service), these ride-sharing companies have garnered a significant uptake. Probably the most well-known sharing economy company is Uber, the leading shared transportation provider, which had revenues of $3.4 billion in 1Q17 alone.

What Should Be Disrupted?

Physical assets can be used more efficiently, and less energy and materials are needed in our economy. Although the sharing economy addresses these issues, many experts criticize the sharing economy. They point to downsides such as platform monopolies, privacy violations, exploitation of labor and unfair competition. There are also issues of trust. About 69% of Americans say they will not use the sharing economy company until it is recommended by someone they trust6. That’s why we strongly believe in P2P ecosystems and a decentralized blockchain paradigm.

WONO focuses on the following:

• Space sharing: WONO combines P2P rentals (e.g., Airbnb) with the home-swapping concept;
• Transportation sharing: WONO uses the Turo/Getaround model where a person can hire or rent out a vehicle for any desired duration;
• Miscellaneous assets sharing: Users can hire and rent out any assets in their possession
• Services sharing: WONO combines the Freelancer/Upwork model for remote jobs and TaskRabbit for micro jobs.

WONO’s key feature is using blockchain technology for the escrow function in all deals among users. WONO can thus ensure transparency of all transactions and guarantee that all commitments will be met. The marketplace’s “fuel” is the WONO token which serves for the following:

• All P2P payments on the platform as an internal currency;
• Transaction security as a reserve;
• Crowd insurance and crowd arbitrage.

Token details

  • Ticker:             WONO
  • Type:                 Utility-token
  • Additional Token Emission:     No
  • Accepted Currencies:    ETH
  • Pre-sale start date:  06 Aug 2018
  • Pre-sale end date:  02 Sep 2018

Token Sale

  • ICO start date: 03 Sep 2018
  • ICO end date:
  • ICO token supply: 47,500,000
  • Soft cap: 7,000,000 USD (fiat)
  • Hard cap size: 20,000,000 USD (fiat)

Bonus Program

  • Pre-ICO first $3M – 30%
  • Pre-ICO $3-4M – 25%
  • ICO first $1M – 10%
  • ICO second $1M – 5%

Token distribution

  • 60% – token sale
  • 20% – team and owners
  • 12% – reserve
  • 5% – advisors
  • 3% – bounty

Funds allocation

  • 55% – engineering / product development
  • 15% – marketing
  • 15% – legal
  • 10% – business
  • 5% – community

Roadmap 

 

For more Information,Please see the Link Bellow :

Website=> https://wono.io/

Whitepaper=> https://wono.io/assets/content/en/wp.pdf

Bitcointalk=> https://bitcointalk.org/index.php?topic=3398728

Telegram=> https://t.me/wonoworld

Twitter=> https://twitter.com/wonoworld

Facebook=>https://www.facebook.com/wonoworld 

My Bitcointalk Name: nazrulislam

My ETH Address:  0xf646aE3e2f947e367408a806D34a123661b46525

 

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