Sharing Economy 2.0

2019 M02 20 · von Leroy Hofer

Sharing Economy in combination with blockchain based eCarsharing. A project for the future.

Status Quo

"Sharing Ecomony" is a development that can sustainably change the economic system in which we live. Ownership is shared and everyone should profit from it all. At least this is the basic idea behind it. For apartments, music and cars, this concept is already well received. The economic sector is growing rapidly and the associated companies such as Uber and Airbnb are long-standing multibillion corporations.

Potential and risk

Experts say the "Sharing Economy" shows how to fundamentally rehabilitate and democratize. The resources are used optimally. However, it does not matter how this multi-faceted concept is interpreted and implemented. Is it really "sharing" when driving through the city in a Car2Go from Daimler or just an app-based car rental company? In principle, there must be two parts that relate to user behavior or the actual value chain of economic performance. "Sharing Economy" becomes a label without uniform ideology and approach. Just because a product or service is used by more than one person.

Development

Because of this lack of clarity, Caroo has developed a concept with which the democratization process of the economy can be achieved, both value-added and usage-oriented. This idea is summarized with the term "sharing economy 2.0". In the case of Caroo, this concept should be implemented in two steps.

Step 1: First, a fleet of e-cars is offered in the concept of "free floating" shares in Vienna. As is the case with other car-sharing providers, the cars will be dismountable and rentable everywhere. The entire rental and payment process runs through the Caroo app. This step serves as a "proof of concept" and forms the foundation for the establishment of the concept of "sharing economy 2.0".

Step 2: A blockchain-based investment and billing model will be implemented on the Caroo website that will allow people to invest directly in Caroo's assets, in this case the eCarsharing car fleet, and also benefit from car sales. Each e-car is represented by a certain number of tokens based on the ethereum blockchain. The entirety of the tokens represents the operational value of the assets. These tokens are then freely tradable and have a physical car value deposited as an eCarsharing car, which also allows real-time revenue sharing. This ensures a fully automated and open participatory system that integrates each token holder in the value chain.

Change

By implementing this system, actual sharing can take place. The users benefit not only from the service, but also individually financially. The aim is for the population of a city or region, through their investments, to determine fleet size and model selection, thus coupling the service directly to the supply and demand principle of the free market. Token trading does not require any financial service providers or other third parties. This can be traded freely and the course is of course variable.

Ideally, Caroo does not own a single vehicle anymore. Caroo then becomes a blockchain-based, open-sharing e-car sharing platform. The crowd is the clock and beneficiary at the same time. The user is fully involved in the process and the achievements are shared. Caroo understands this as "sharing economy 2.0".