OVERVIEW
An application developed by BizShake is
going to be
available on Web
and on Mobile
platforms (iOS and
Android). This application
will have two
different business models
that will work
independently from each
other. The two business models are
SmartRent and SmartPawn.
Users can take advantage
of the different peculiarities of each model in
order to achieve the highest benefit in any possible use case scenarios.
A.
SmartRent
I.
Operating principle
The basic idea of SmartRent is to allow
users to lease assets to other users for a specific period of time. The user
that will lease
the asset (lessor)
will list that
asset on the
application, specifying the characteristics of the asset including:
+ Pictures/videos that demonstrate the asset.
+ Range of rental fee per hour/day/week/month ( actual rent fee will be calculated based on the lessee's crediblity level).
+ The calendar indicating the dates when that asset is available to be leased.
+ The geographic area in which the asset will be available to be shipped/handed over.
+ The value of the asset and the amount of deposit that will be locked by the blockchain.
+ Pictures/videos that demonstrate the asset.
+ Range of rental fee per hour/day/week/month ( actual rent fee will be calculated based on the lessee's crediblity level).
+ The calendar indicating the dates when that asset is available to be leased.
+ The geographic area in which the asset will be available to be shipped/handed over.
+ The value of the asset and the amount of deposit that will be locked by the blockchain.
II.
Advantages for the parties
1.
Lessor
a. Can
enjoy economic benefit
out of an
asset that they do not need to
use in a certain period of time
b.
Can decide freely when to lend his/her own asset without any temporal boundaries in terms of period and duration;
c.
Can safely engage
in the lending
process because of
the trust embedded in the
Blockchain technology;
d.
Can be sure that, in case leased asset is damaged, lost or stolen, the
lost value will be fairly determined and transferred to his/her wallet
by the Blockchain
2.
Lessee:
a. Can enjoy all the benefits from the
access to a certain asset for a predetermined period of
time without purchasing that particular asset;
b. Renting an asset from a wide range of
collection
c.
The deposit will
be safely locked
by the Blockchain
in lessee’s own wallet.
It won’t be
transferred to the
lessor’s wallet unless
otherwise decided by the
SmartDispute system. B. SmartPawn
I.
Operating principle
The basic idea of SmartPawn is
to allow users
(pawners) to obtain
a short-term loan, backed by an asset, from another user (lender).
The
pawner can list
an asset with
a clear description
and ask for
a loan of a
certain amount (up to its value) as well as the interest rate that he/she is
willing to pay, the loan duration, a geographic request of the lender, and etc.
II.
Advantages for the parties
1.Pawner:
a.
Will be able
to monetize from
an asset during
a certain period
without losing the property right of it;
b.
Can decide freely when to pawn his/her own asset without any temporal
boundaries in terms of period and duration;
c.
Can safely engage in the pawning process because of the trust embedded
in the Blockchain technology;
d.
Can be sure that, in case pawned asset is damaged, lost or stolen (or in
any other case that will be specified in the pawning clause), SmartDispute
system that will be implemented transparently in the Smart Contract, will
fairly evaluate and
determine the loss
value and release
a sentence to help the pawner to get a fair amount of
compensation.
2.
Lender:
a.
Can enjoy all
the benefits of
the access to
a certain asset
for a certain period (by lending out an amount that
is lower than the asset value)
b.
Can enjoy economic return through interest accrued;
c.
Can keep the asset if, at the end of the agreed period, the pawner
doesn’t return the lent amount.
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