Bizshake Neo Platform
A. Introduction
We believe there is a potentially huge, mostly unexplored market for asset allocation optimization. There are many companies that focus on renting assets, but few with successful stories of P2P sharing (i.e. Airbnb, Uber). The main reason being trust in transactions. People are reluctant to lease to or rent from someone they don’t know, without the certainty of product quality or authenticity.
This kind of concern, even though understandable, is actually limiting the potential of everyday items we own. Moreover, it’s increasing the demand for new objects, which consequently drives the world further intooverproduction. This is not only a waste of resources but also a great concern to our society as we’re exploiting the world’s resources without enjoying the full benefit of them.
A.1. Vision
We strongly believe that the practice of sharing access rights of assets among the community will positively improve people’s social responsibility while helping achieve a better living standard for all.
BizShake will build the foundation of this new market paradigm based on shared community access to assets while being able to achieve economic benefit in various forms.
A.2. Mission
To bring a better life through innovative technology and a business
model based on a decentralized P2P sharing ecosystem.
In other words, to implement Sharing Economy 2.0 through P2P transactions without intermediary costs for trust provision, based on the Blockchain technology, greatly reducing transaction fees for users.
B. Innovation Aspects
Our vision revolves around the following components:
B.1. Blockchain
Blockchain technology will primarily benefit our project in 2 ways:
Allow us to cut all intermediaries in the renting/pawning process as well
as in the payment process.
Introduce the transparency and trust needed to relay the safety of the
renting/pawning process, therefore reducing (if not eliminating) frauds.
B.2. NEO Blockchain
After an in-depth analysis of the various Blockchain platforms, BizShake
decided to create its ecosystem on NEO Blockchain. The NEO Blockchain
has been chosen because it is the only one that offers the following
advantages among the few complete Smart Contract platforms that are
currently available:
- Scalability: already capable of executing more than 1,000 TPS (transactions per second) Vs. 15 TPS on Ethereum Blockchain. NEO also projected the ability to handle 100,000 TPS by 2020;
• the cryptography algorithm achieved by the NEO Blockchain is already Quantum Proof, which means there won’t be a need to update or introduce a new algorithm in the future;
• NEO executes its block generation algorithm based on dBFT (delegated Byzantine Fault Tolerance). This algorithm creates a base for a consistent creation of new blocks on the Blockchain without the need for mining (PoW, Proof of Work). BizShake favorably welcome the dBFT for its low impact on the environment;
• NEO is actively working on Digital Identity implementation and is
extremely compliant with Government Blockchain regulations. This
is very important for the BizShake projects as it will build even better trust among the users of the BizShake ecosystem applications.
This article was created in exchange for a potential token reward through Bounty0x
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