[ICO REVIEW] WONO - revolutionary idea for sharing economy

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Sharing economy is a new trend with appearance of technological unicorns like Uber or AirBnB. What if WONO can combine all of these platforms in a single protocol?

Wono is a decentralized P2P platform for rental and freelancing where users share what they have and get what they want. To make it simple, it can be said that Wono is a combination of AirBnB for housing, Uber for transportation and Upwork for freelancing.

By tokenizing the assets and services, Wono will accelerate liquidity of non-liquid assets as well as eliminate the intermediaries and fiat in transaction. As a result, the cost of goods sold (including commission for brokers) and exchange rate fluctuation effects can be limited.

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Sharing economic model is a trendy idea these days, especially the idea about a platform that can acquire AirBnB, Uber, Upwork, and Craigslist in one place. In order to evaluate whether Wono can succeed or not, and whether we should  invest in this project, we need to get into details about their technological feasibility and competitive advantages.

Wono’s technology

Frankly speaking, the only point which makes Wono different from traditional sharing platforms is the fact that it has been developed with the use of blockchain technology. Instead of building their application on a centralized server with a high risk of cyber attack and privacy violation, people who created Wono have developed its protocol on Ethereum blockchain to make the most of its features, such as transparency, privacy and security.

Moreover, it is believed that intermediary cost of Wono will be decreased by around 10% - 20% compared to traditional platforms.

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However, Wono may face common issues, like most of blockchain companies,related to user's interface and technological adoption. Almost all current decentralized apps (Dapps) don’t have user-friendly interface (UI/UX) and are too complicated to operate. For example, to join Origin Trail platform, you have to fulfill many steps from installing a wallet to buying tokens and other extensions and softwares in order to run the protocol.

It creates technical barriers for new users who are too “lazy” to change their behaviours and adopt new technologies. They would rather choose traditional applications at a little bit higher price but which are more familiar and simple than use complicated ones.

Competitors

Sharing economy can be considered as a highly competitive market without entry barriers. Over the past few years, industries embracing sharing economy have witnessed strong development of their sharing websites and apps . Currently, companies like  Airbnb, Zipcar, Uber, Lynx, Etsy, and so on are the market leaders. It’s going to be very hard for Wono to compete with these unicorn startups and acquire users.

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Not to mention the fact that users have not been “educated” or made aware of the benefits of Wono resulting from blockchain technology. They really don’t  care much about decentralization or privacy because until now, there has been no report about severe cyber attacks that have taken place/occured on these traditional platforms. Therefore, Wono needs to find solutions to make their interface more attractive to users and change a community mindset on virtual security.

Next, we will help you understand WONO token and evaluate WONO token's potential for your investment. Follow us!

Written by nami.today

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