Peer-to-peer rentals and freelancing without intermediaries, any kind of taxation and currency exchange loss – that’s what a Malta-based crypto startup WONO offers as their killing feature.
WONO is not the first attempt to integrate blockchain with a sharing economy, but it has some critical differences with everything ever offered before.
First, they plan to tokenize any kind of P2P rentals (e.g. homes, cars, instruments, gadgets) and freelancing in addition, on the one platform. Freelancing, by nature, is also a kind of rental – you get money for renting out your time and talents.
“Tokenizing a single market niche makes no sense. If all these P2P or freelancing projects launches, after all, you’ll have to hold 10 different tokens for 10 different services, constantly exchanging them, losing money and time. It will never work. That’s why we offer an environment for all kind of P2P transactions. You can earn on WONO, you can spend on WONO. Monetize anything you have and get anything you want” – says WONO CEO Alex Esaulov.
Since tokens are determined in most countries as digital assets, you don’t need to pay taxes for token transactions until you withdraw them and exchange into fiat.
“That’s where our business model proves to be the most effective. On WONO you’ll have thousands of opportunities to earn and spend tokens, so you won’t need to withdraw them at all. And avoid taxation absolutely legal” – comments WONO COO Andrei Chepelev.
The business model looks promising though ambitious. In the nearest future, WONO can hardly become a serious competitor for Airbnb or Turo, but millennials, involved into a crypto economy will definitely be interested in a service offering a significantly cheaper solution for rentals and freelancing.