The emergence of blockchain technology and virtual currencies opens up opportunities to create truly global marketplaces that are not restricted by factors such as regional currencies. This trend builds on the global expansion of peer-to-peer (P2P) sharing marketplaces and on-demand services.
The Rentything platform aims to create the world’s first global P2P rental marketplace that utilizes its own cryptocurrency, RentyCoin, to create value for owners and renters. RentyCoin is built on blockchain technology supported by a distributed network, providing a secure platform for verifying user identity, credit scoring, and enforcing transactions.
As a rental marketplace established in 2012, Rentything new platform landing page has already attracted thousands of subscribers. The goal of Rentything is to reduce the risk and costs of rentals for owners and renters to facilitate the next evolution of the sharing economy for any item users want to list.
Using a single currency, we remove transaction costs from payment gateways and financial institutions for a global user base. In addition, our renting platform is no longer just a single instance database but a truly secure, trustable, innovative, robust, stable, reliable, transparent P2P distributed online renting platform.
The new Rentything Platform will have the following features:
This initial coin offering (ICO) is meant to convert our business into a truly decentralized token ecosystem that drives the growth of the Rentything P2P marketplace and provides the capital which will allow us to address the growing international demand for Rentything.
Rentything is a decentralized peer-to-peer online renting platform using blockchain technology to build a transparent platform to encourage collaborative consumption and environmental conservation.
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Attention. There is a risk that unverified members are not actually members of the team
SummaryMainly, RentyCoin is a platform that allows you to rent and lend almost any item to users participating on the platform. But, we’ll have to see how the ICO responds to illegal items before we can count it as a safe marketplace for users.PositivesTokenization: All of the rental items are tokenized. This prevents the waste of used items. Instead, every item will have a value based on RentyCoin. The RentyCoin will be used for the advertising cost, rental fee currency, and the amount it takes to deposit rental items.Trustable Technology: Through the use of blockchain, RentyCoin records all of the information of each transaction through a distributed ledger.First Decentralized Rental Platform: Currently, the project attracts a few thousands of users each month to receive a newsletter even if the website isn’t fully created.NegativesRent Protection: How will its Smart Contracts protect owners from getting their rented items stolen from fraudulent users on the platform?MVP Quality: Even though the product is in Alpha version, we would like to see more features out of the platform before seeing if its useful for the long term.Illegal Items: How will RentyCoin prevent the renting of illegal items, drugs, and other materials through its network?
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