We're experiencing a revolution that moves us beyond ownership into experience powered by the ability to share. From cars to houses, people around the world are realising what they can experience without being encumbered by ownership. If society went from owning cars to sharing a car in the cloud that was available only when needed there would be a fundamental shift across multiple industries, economies and society.
Current sharing-economy platforms charge up to 35% in commission and fees to facilitate matchmaking, thus keeping the biggest share of value produced for themselves.
The private data of individual network contributors is exploited by the platform owners to make huge profits, that too without rewarding the network contributors in any way.
The current centralized platforms are completely controlled by and support the goals of private companies and their investors; networks contributors have no stake in the platform whatsoever.
The expansion and improvement of the platform are controlled solely by the platform company; 3rd party developers or network contributors are excluded from these matters.
WeGotcha is a decentralized platform for multi-sided sharing economy marketplaces that truly de-intermediates the current platforms on the likes of Uber and Airbnb. 3rd party developers can make their own dApps for various kinds of sharing economy services including, but not limited to, ride-sharing, space-sharing, food delivery, and vehicle rentals using the Gotcha protocols, thus, further expanding the platform with new use-cases over time.
The WeGotcha ecosystem provides a universal decentralized platform where developers can build sharing economy dApps within no time, harnessing the power of platform's existing network.
The three main protocols of the WeGotcha platform are:
GotchaPay is a secure payment system that facilitates P2P transactions between authenticated entities by holding money in Bingo Tokens until after the successful exchange of service.
GotchaRep is a reputation management system that allows network members to exchange immutable ratings and reviews in a transparent manner, thus rewarding good behavior in the network.
GotchaInsure is an arbitration system that resolves user disputes via decentralized consensus, providing positive incentives to genuine arbiters and negative incentives to penalize cheaters.
Our ERC-20 utility token, Bingo (BINGO), enables the network contributors to programmatically receive an equitable, proportionate share of the value created by the network they comprise, better aligning stakeholders across the platform. Users don’t need to have knowledge of the underlying cryptoeconomics to participate in the platform, as they can use either fiat or BINGO on the platform. WeGotcha’s reward pool mechanism automatically uses the fiat funds to purchase BINGO from the market, thereby driving the demand.
Consumers hold BINGO to obtain exclusive deals, and signal status across the platform while service providers, businesses, and arbiters stake BINGO to participate in the network. As the network contributors increase, so does the transaction volume, which increases the amount of staked BINGO tokens in the platform. Thus, the number of BINGO tokens in circulation goes down with user adoption, which effectively decreases the total supply, and results in the appreciation of the value of the token.
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