About Rento ICO
Rento - Rent, Share, Profit - Everything You Want Rento is creating a software solution for individuals and businesses to share items and services that, until now, needed to be purchased. The Rento solution is based on the increasing “sharing economy” market, but rather than focus on one vertical, Rento is providing a complete solution, including smartcontracts, for anyone to rent or borrow any item or service. In the same way that ecommerce sites such as eBay do not limit themselves to one type of item, Rento is providing the sharing economy marketplace. Rento is leveraging blockchain technology for the smartcontracts that ensure trust throughout the system. The concept of sharing economy is built around the use of economic resources to their fullest potential and that is exactly what Rento is aiming to accomplish. Rento proposes a mobile application (and web platform) that allows users to list their unused assets for renting or sharing on its platform. Every listing on Rento includes the key aspects of the asset or resource such as its rental cost, availability schedule, images or video of the actual item, specifications, and terms and conditions specific to the asset. Rento proposes multiple products and services segments, with its initial focus on businesses and service providers to populate the platform with a large stock of available resources, ensuring that the platform initially has enough inventory for consumers to find it appealing. Rento will be launching with primary listing segments such as household items like lawn mowers or snow blowers, through more commercial offerings such as shared offices and conferencing facilities, construction equipment, parking spaces, and even underutilized human resources. In addition to developing a sharing platform, Rento plans to set up at least one bricks-and-mortar rental store as a proof of concept for its sharing ecosystem. Considering that the assets to be proposed for listing vary in financial value, the maintenance of transparency is of utmost importance. Also, in the sharing economy, reputation is key, and it’s essential that all information is verified and secure. Rento App Rento App aims to expand the sharing economy beyond transportation, real estate, and hospitality industry. It allows users to rent everyday items such as real estate, office space, hardware tools, electrical equipment, construction equipment, cameras, and everything that one may require or want to rent on the platform. Features for platform users: • Listing page: The listing page lists all the available services and products for renting on the platform. It supports multiple categories, search filters, and geo-filter to show relevant results. • Search engine: Rento app comes with a built-in search functionality that allows users to search products using multiple filters and sorting capabilities. • Renting calendar: Every product and service listed on the Rento app reflects its availability through a renting calendar. Users can access a product depending on its listed openings. Rento plans to introduce ‘Book in advance’ feature after the launch. • Feedback: Rento has a built-in feedback system which allows users to rate the product or services depending on their experience. Rento app utilizes blockchain technology to limit feedback manipulation practices on its platform. Features for listing owners: • Active listings: The listing owners can find all of their active listings in a single location. Additionally, they can view the renting schedule of any item or service in the active listing page itself. • Listing/Advertisement package details: The listing owners can access listing package details or advertisement subscription on the dashboard. Every business/service provider will receive a complimentary listing point package after completing the registration. Rento plans to introduce premium advertising and listing position after 2020. • Customer insights: Rento plans to introduce customer insights feature for listing owners, allowing them to understand customer behavior, renting preferences, and other relevant parameters to grow their business. Rento Blockchain Rento is creating a proprietary blockchain with specific features that are essential for the sharing economy. The chain for Rento will be used specifically for the sharing economy. Because it is an independent blockchain, Rento is able to develop the chain specifically for the implementation of this business model, ensuring that it is the best database customized specifically for the needs of the Rento ecosystem. • Custom smartcontract facility: The Rento platform requires specific smartcontract customizations that are not available in the present blockchain platforms. Additionally, Rento platform needs the flexibility to develop new functionalities to address any operational/technical challenges in the future. • Handle dispute resolution: Rento requires complete control over its blockchain to handle disputes, which is not possible when using third-party blockchains. Having its own blockchain will allow Rento to address disputes in accordance with the local regulations. The Rento ecosystem features a Proof of Authority (PoA) blockchain to be used for transactions inside the Rento App, particularly for payments, security deposits, and transaction history, thereby ensuring full transparency. Rento Model Store Rento Model Store is a proposed rental store that will feature a wide range of assets, such as lawn tractors, boats, scooters, etc. This will not only build credibility for the Rento platform, but will also promote the sharing economy vision since all rentals will be done through the Rento platform. The Rento Model Store will provide an in-person experience, allowing Rento to get first-hand feedback as people use the service. Furthermore, this business model also represents a pathway to building of a brand and a franchise. For an interested person to own and operate a Rento Model Store under the Rento franchise, one would need to satisfy a number of conditions outlined in the franchise agreement. In addition to the payment of the franchise fee outlined therein, one would need to purchase the amount of Rento tokens stipulated in the same agreement and hold the Rento tokens for a minimum period of two years.