From Fiverr/Uber/Airbnb to Bizshake: THE EVOLUTION OF SHARING ECONOMY
In my first article on Bizshake here, I introduced Bizshake and wrote about the following products on Bizshake ecosystem: SmartCertify, SmartIdentify, SmartRent and SmartPawn. This article will be a continuity of the earlier article. I will cover SmartDispute and SmartAPI in-depth.
Bizshake is a Neo-5 project that aims to improve sharing economy through blockchcain technology. Bizshake is a security token which will allow users to earn dividends from the transaction fees accumulated from app usage.
The advantages of NEO over other platforms include:
✅Scalability: NEO supports more than 1000 TPS currently
✅Quantum resistance: NEO is already quantum resistant
✅NEO’s DBFT algorithm is not energy intensive
✅Neo is actively working on regulatory-compliant digital identity verification
Bizshake will actually work with ONT ID, which has government level partnership to implement it in its dapps.
Bizshake’s inbuilt dispute resolution mechanism that seeks to resolve any dispute arising from transactions carried out on Bizshake dapps. The aggrieved party will communicate the issue to the other party, providing evidence, and suggesting penalty. In the case of blacks swans a fixed value can be assigned to the penalty If local resolution does work, both parties have to submit a ‘Case File’within the smart contract’s time requirements. 5 Arbiters of the highest reputation will form the review panel of the Case File. The conflicting parties will review the proposed solution and also rate the judges. If a judge performs below a certain threshold, they will no longer be eligible to participate in the arbitration process. This is outlined in detail in the whitepaper. Smart contract will transfer the compensation decided from the deposite locked in the lessee’s wallet to the lessor and unlock the remaining deposit. Users who fall short of submitting the complete amount will be frozen from using Bizshake until they settle their ‘debts’.
More information on the Smart Dispute process is covered in the whitepaper.
Bizshake API will be used to access the Bizshake smart contracts. This gives web developers flexibility to expand on Bizshake dapps to create more for the sharing eonomy. This is particularly useful because it reduces the learning curve for developers, they have no need to learn about smart contracts or using the NEO ecosystem. Part of smart contract fees of third party apps will accrue to developers.
This targets vertical markets that are promising.
Other features which make Bizshake’s app truly useful is the use of fiat straps, to prevent cryptocurrency volatitlity.
According to the road map most of the main dapps on Bizshake will roll out in beta by Q4 this year SmartRent, SmartPawn, SmartDispute, SmartAPI and SmartCertify.
Innovative Governance Model
One of BZS token uses is voting. This is particularly important because Bizshake’s tokens will be securities. Therefore, token owners have privileges such as those of traditional shareholders. Token holders can vote in the Token Holders Steering Committee that will vote for:
📌 All the strategic decisions identified by the Board
📌 Elect one member of the Board of Directors, thus involving the token holders in the actual running of the company Each vote is weighted to tokens held. Token holders will be entitled to receive 30% of the dividends.
This decision making process will be carried out through smart contract, allowing transparent record keeping on the blockchain.
For more information about Bizshake, follow the following links:
Whitepaper ENG: https://bizshake.io/sites/default/files/BizShake_Whitepaper_1.2_ENG_2.pdf
Disclaimer: Part of the article group.