The WONO system will allow for the clients to exchange or hire their properties and services making use of the decentralized platform of the WONO whilst conserving expenses related to taxes and exchanging fiat currencies. The system would facilitate the sharing of space, transpiration, a variety of assets. WONO tokens are being used as an approach of exchange, as well as for insurance and arbitration. WONO provides the surrounding for hire and hiring physical and concealed assets, as well as ordering and accomplishing services based on the Interplanetary File System ( IPFS ) and Ethereum blockchain. The project’s objective is to coordinate perfect circumstances for a hassle-free transaction between users with negligible transaction costs, no matter what the location is. WONO is working as a bridge that connects the cryptocurrency community together with the real world. The platform makes it possible for clients to make use of cryptocurrencies for physical asset rentals and the renting of freelancers. Freelancers have the ability to acquire a salary and spend it without needing to pay fees or taxes.
WONO’s system is just like today’s market leaders as an example AirbNb, Upwork, or Toro which give you unique services or products but for a more affordable price than their B2C business competitors. WONO plans to get rid of the concerns those are present in the current market systems with the aid of blockchain technology.
The tokens are considered as digital assets in most of the countries. They are not considered as fiat currencies. Therefore, all the tokens that a consumer earns on this WONO platform are not taxable as long as they remain as tokens and until they are converted into money. That makes WONO aside from old-fashioned sharing services where asset owners are required to pay taxes. WONO also provides a massive benefit over current blockchain-based sharing services which are targeted towards a single market model ( e .g . , houses or cars ), where customers required to exchange collected tokens for other sorts of platforms’ tokens or fiat money. The key feature of WONO is utilizing blockchain technology for the escrow functionality in virtually all deals among users. It is possible to thereby confirm transparency of all the transactions and make certain that all commitments would be fulfilled.
The WONO component atmosphere permits any kind of DAPP programmer to implement his own business strategies making use of the WONO platform’s features. WONO provides its solutions for third-party start-ups and permits to them enhance their businesses working with blockchain technologies, raising the liquidity of their market sections and crypto economics at huge. The WONO atmosphere comprises of the following three major elements:
- Protocol of WONO: a collection of decentralized apps managing the WONO business model
- WONO API: Is working as an accelerator of the WONO protocol
- WONO Client: The web-based application that has been developed to work with WONO API and the WONO protocol
WONO is an ERC20 token standard and this is a utility token. For all kind of transactions, those are made on the WONO platform, participants have to use WONO tokens. Mainly WONO tokens have the ability to use for the following activities.
- To pay for assets rent or for the services
- To pay the fees on the platform
- Crowd deal insurance
- Crowd deal arbitration
Token: WONO
Price: 0.5 USD
Accepting: ETH
Soft cap: 5,000,000 USD
Hard cap: 20,000,000 USD
Users can use Ethereum supported wallet to store the WONO tokens. The crucial aspects for the improvements of ICO token prices are the improvement in the number of assets that are added to the WONO platform and an expansion in the number of consumers. You will find the possibility to spend tokens inside the system, as long as involvement in the crowd deal insurance and crowd deal arbitration encourages the closed cycle of token flow inside the WONO ecosystem. Below you can find the token details of the project.
A whitepaper and a lightpaper have been provided on the platform. The technical presentation is reasonably complete. Business-related advantages of the platform have been discussed here. Legal information is available through the range of documents given on the project website. Also, the users can access the GitHub page of the company. The whitepaper is reasonably extensive and concentrates on speaking about the suggested options that come with the platform. The documents are not notably complicated and do not normally include an excessive use of technical words or buzzwords. Overall legal contents about the platform are relatively complete. Well-detailed documents about the legal things to consider of the platform are available on the documents like the agreements for WONO tokens, the terms and conditions and a well-detailed risk memorandum.
An Alpha version of the product has been released by the company. At the moment of user account registration, the users can create an intermediate Ethereum wallet to improve the usability. The technical developments of the platform can be tracked on the official GitHub page of the WONO project and the details about the proof of concept is available on the website. WONO is aiming to utilize the BlockChain technology to fulfill their targets.
The corporation intends to establish a platform where customers can depend completely on WONO without enrolling banking institutions by permitting members to obtain compensated for the freelance job and spend their commissions on assets and/or services on the peer-to-peer platform.
The company is based in Russia. The complete team consists of 14 individuals and 8 advisors and they are presented on the website with the links to their LinkedIn profiles along with their job titles. The experiences of the members have been used to develop the WONO platform.
The platform makes use of smart contracts to help consumers make sure that the job will undoubtedly be finished and will compensate the users if there is a termination issue. As there are no finance companies or banking institutions involved, Wono transactions don’t possess exchange rates. As an alternative, consumers are rewarded with Wono tokens for the service or work which they offer.
Related links
Website: https://wono.io
Whitepaper: https://wono.io/assets/content/en/wp.pdf
Telegram: https://telegram.im/@wonoworld
Authors details
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1690614
Telegram: @jayezine
