Rentything is the world’s first decentralized peer-to-peer (P2P) online renting platform using blockchain technology to build a trustable and transparent platform to encourage collaborative consumption and environmental conservation.
Rentything’s platform will only use RentyCoins. P2P renting refers to the process of an individual renting an owned good, service, or property to another individual. It is also referred to as person-to-person rental, collaborative consumption, the sharing economy and product service system. For Rentything, P2P renting, is mainly used to describe online-enabled rental transactions between individuals.
The rapidly growing demand for collaborative consumption is enabled by a combination of the following trends:
- Networking infrastructure and high-bandwidth penetration reaching a level allowing social networks and consumer-to-consumer marketplaces
- Limited storage space in dense urban environment preventing consumers from keeping all the goods they occasionally use
- Increasing environmental concerns of consumers leading towards limitations of waste of resources and over-consumption
- Evolution of consuming behaviors from owners to users