Rento – an Ecosystem for Sharing
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Rento app aims to expand the sharing economy beyond transportation, real estate and hospitality. It allows users to rent unlimited variety of things such as real estate, office space, hardware tools, electrical equipment, construction equipment, cameras and everything else that one may need or want to rent.
Features for platform users
- Listing page: the listing page shows all the products and services available for rent on the platform. It’s designed in a way that user can quickly scroll through different listings and find interesting content.
- Search engine: Rento app comes with a advanced search functionality that allows users to browse multiple categories, filter results based on different criteria or search by location to show relevant results.
- Booking calendar: every listing of a product or a service in Rento includes booking calendar which is constantly updated according to users activity in the app. Users can request booking of a listing depending on its current availability.
- Feedback: Rento has a complex feedback system which allows users to rate the listings and users depending on their experience. These reviews later reflect users ratings. Rento utilizes blockchain technology to limit feedback manipulation on its platform.
Features for listing owners
- Active listings: listing owners can find all their listings in a single location. Additionally, they can manage the history of all rental transactions they receive and view the booking calendar for their listings which updates as other users make bookings.
- Listing/Advertisement packages: users who want to list their things or services can buy RentoPoints which are used to purchase listing display in the app. Every new user will receive a complimentary RentoPoints gift after completing the registration. Rento plans to introduce a variety of premium listing options and unobtrusive advertising 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 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 smart contract facility: Rento platform requires specific smart contract 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, 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 cars, 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.