The digital era is characterized by the growing knowledge and use of technology, one of which is its use in the entertainment industry.
The change of a business that was once conventional to digital, not apart from the development or penetration of Blockchain in some business sectors in the world. Call it the health sector, trade franchise (Carrefour, Wallmart) game (Ubisoft), supply chain, energy, including the entertainment industry, etc.
Not only that, Blockchain has also penetrated into the world of smartphones, marketing, advertising to the field of art or entertainment. Where all operational businesses are already adopting Blockchain technology.
Blockchain in Peer-to-Peer Networks, or P2P, is a system whose members can interact directly with one another. P2P system used to make all the individuals in it have the same position and do not need to depend on third parties in the transaction because it can interact directly between one user with another user. The system does not have a centralized server and is not controlled by an individual / group or company, but is governed by a majority vote of all users in it.
What is Bizshake?
BizShake is an asset allocation optimization ecosystem which targets the sharing economy providing an innovative p2p (peer to peer) method. BizShake’s concept has been designed around blockchain and its fundamentals of being decentralized so that transactions are unable to be tampered with, engraving trust into the overall ecosystem. Users will be confident that they are not being taken advantage of and be encouraged to share with Bizshake – who have created a SmartDispute System to defuse any transaction conflict that may arise during your experience on the ecosystem.
BizShake’s business model will involve two business practices; Smartrent and Smartpawn. Smartrent will encourage Bizshakes users to ‘rent’ out their specific assets for an agreed amount of time with other users. On the other hand, Smartpawn will provide users with ‘short-term loans that are backed by an asset, from another user (lender.)’
How BizShake P2P Blockchain Renting & Pawning Works
BizShake will be accessible through mobile apps for iOS and Android. You’ll also be able to purchase it over a web platform.
The core functions of the platform include “SmartRent” and “SmartPawn”. Here’s how each works:
The idea of SmartRent is to allow users to lease assets to other users for a specific period of time. You might have a chainsaw, for example, that you’re not currently using. You list the asset on SmartRent along with a rental fee, pictures of the asset, and any additional information. You can set different rental rates by the hour, day, week, or month. You can also fill out a calendar explaining which dates the asset will be available to be leased, the geographical area where the asset will be available to shipped and handed over, the value of the asset, and the amount of deposit that will be locked by the blockchain
The user leasing the asset – the lessor – will be able to set different deposit amounts for users with different credibility levels. Someone with a high credibility level, for example, may pay a significantly lower deposit than someone with a low credibility level.
The time limit on the rental period will be set by a smart contract.
SmartPawn allows users – called “pawners” – to obtain a short-term loan backed by the value of an asset. You’re “pawning” your asset to another user, and that user is providing a loan based on the value of that asset. It works just like an ordinary pawn shop – just built on blockchain technology.
BizShake lets users rent items through the SmartRent platform. Users pay a deposit to rent an item for a specified period of time – like an hour, a week, a month, or a year.
SmartPawn lets users pawn items in exchange for a short-term loan – just like an ordinary pawn shop.
BizShake will have an asset verification and certification system called SmartCertify. That system will work with Certifier Users who can certify that a particular asset is exactly as described by the owner. Certifier Users can apply for qualification, then undergo “a rigorous review” from BizShake to analyze their accreditation and professionalism.
- BizShake API:
BizShake will create an API that allows access to BizShake smart contracts. Web developers can create new applications that leverage BizShake smart contracts without forcing users to directly interact with BizShake.
BizShake will have a three stage dispute resolution system that allows users to get a fair outcome when a dispute arises. The dispute resolution system involves a panel of randomly-chosen arbiters, with arbiters being high-reputation users on the platform.
BizShake’s SmartIdentify feature will use AI algorithms to calculate a user’s profile, ID, and level of credibility through government data, insurance information, financial data, and more. You can share your credibility level with other BizShake partners.
- Multi Platform:
BizShake will be available for desktop and mobile devices in the future.
- Blockchain and the nature of decentralization: Trust and transparency integrated into all transactions so no-one is better off. Intermediaries are not needed in the processes of sharing or payments.
- NEO Blockchain: BizShake has designed its ecosystem on the NEO Blockchain as it can exert scalability, with the capability of accomplishing 1000 transactions per second. The NEO Blockchain also uses delegated Byzantine Fault Tolerance or dBFT which can be considered to be one of the ‘fairest’ ways to create new blocks on the blockchain ‘without the need for mining’ (Proof of Work, PoW.) NEO is also compliant with government blockchain regulations so the trust concept on the ecosystem is also emphasized.
- User ID and Credibility level: Each consumer of BizShake will have to make a user ID containing certain valid information. With each user ID will be a given credibility level dependent upon their past transaction history to ensure full transparency between users. Even new users who have no credit rating may find it hard to engage in sharing on the ecosystem can also benefit, as BizShake will use external sources that are available on the NEO blockchain to also rate the user so that you don’t have to waste time building up a new credibility level.
- Decentralised Dispute system: Arbitration rights will be assigned to users with the most respectable credibility rating. A solving system will then be implemented to decide the level of penalties dependent upon each case to ensure whoever is accountable is reimbursed rightfully with a small commission rewarded to the arbiters who release their judgment call. Users with high value assets can use BizShakes SmartCertify concept to ensure the assets authenticity, condition and value are up to scratch.
What Issue Does it Solve?
BizShake believes that supplying market access to goods and services globally, that have been uploaded by the user to share, can improve the economic welfare of the people. This is because the competitiveness of the overall economy is enhanced as more people have access to these goods and services, driving down the prices overall, creating an improvement in peoples social responsibility and overall living standards. BizShake goes even further as they have provided a platform, Sharing Economy 2.0, that is not directly intervening in the transaction ‘but regulated by the smart contracts’ to minimize any transaction fees. This again keeps prices low so that there is greater welfare in the economy.
Token Sale Information
Pre-sale Time: 01 Oct 2018 – 14 Oct 2018
Whitelist/KYC: Whitelist + KYC
Ticker : BZS
Token Type: NEP-5
Available for sale: 100,000,000 BZS
PreICO Price :1 NEO = 260 BZS
Price:1 NEO = 185 BZS
Accepting: NEO, GAS, ONT
Soft cap: 50000 Neo
Disclaimer: All information on this post is made to educate our readers. Don’t invest in any ICO unless you’re confident about its capabilities and do so at your own risk.
- Peer to peer communication will provide further trust between users
- SmartDispute system so that both parties of a transaction are fairly treated if a complication arises
- All transaction fees will be at a flat rate of 5%
- Can provide goods and services that weren’t originally available to certain markets
- Arbitration rights given to users with the most respectable credibility rating may end up failing if left unregulated. Its a very good concept but the level of penalties may vary largely depending on the arbiter and what they think is acceptable