The term “sharing economy” emerged as an innovative buzzword about a decade ago. And now experts predict that the sharing economy will grow to $335 billion by 2025. This is because people have shown a robust appetite for most of the services that such an economy facilitates. Especially in travel, hospitality, dining, insurance, car-rentals, automotive and more.
Today we all are familiar with some kind of sharing economy model. Projects like Uber or Airbnb have not only proven this concept but become household names in the process. We might be using some alternative names like gig economy, access economy, collaborative consumption or platform economy. But undoubtedly, over the last 10 years, knowingly or unknowingly, we have become a part of this model. And this is where the revenues are predicted to grow by 2133% from 2013 to 2025. So, it is no surprise that ShareRing is emerging as someone with a prominent role to play in the sharing economy model.
But, before we learn more about ShareRing, we need to know what are the major roadblocks in this space.
The current shared economic model stands fragmented and disjointed. On top of that, there an inherent flaw in the existing technology framework on which they operate leading to issues like:
- Privacy and data ownership
- Price discrimination
- Racial bias
- Security concerns
- Monopoly and middleman costs
ShareRing promises to address these issues. And level the