The Rental / Sharing Industry
In today’s economy there are several industries that are in desperate need of improvement, and ideal for the implementation of Blockchain technologies. The Rental, Sharing Industry is ready to be shaken-up and improved, and perhaps disrupted and transformed.
The Rental Industry today is antiquated, inefficient, and tired. The business-to-consumer model is about to be transformed by a peer-to-peer model that is estimated to be worth over $30billion in the United States alone. We see this peer-to-peer model igniting individuals and small businesses to have an extra source of income by renting items they don’t frequently use.
The average American household has over $5,000 worth of unused tools, equipment and toys collecting dust in garages or storage units. This average does not include the millions of unused recreational vehicles (RVs), watercrafts, cars and other pieces of equipment. Small businesses have excess inventories, equipment, vehicles, tools, real estate, and physical space that they don’t use.
Technology and a safe, transparent, and decentralized marketplace using Blockchain technologies will put this massive amount of unused equipment and space to work, benefiting both parties in the transaction: the people and companies that own items (“Owners”), and the people and companies renting them (“Renters”).