Rento is creating a software solution for individuals and businesses to share items and services that, until now, had to be purchased by people who needed them. The Rento platform is build for the rapidly growing “sharing economy” market, but rather than focus on one vertical, Rento is providing a complete solution, including use of smartcontracts, for anyone to rent or borrow any item or service.

In the same way that ecommerce sites such as eBay do not limit themselves to one type of item, Rento is providing the sharing economy marketplace without limiting the scope of items being offered. Rento is leveraging blockchain technology for the smartcontracts that ensure trust throughout the system.

The concept of sharing economy is built around the use of economic resources to their fullest potential and that is exactly what Rento is striving to make possible. Rento proposes a mobile application (supplemented by web platform) that allows users to list their unused assets for renting or sharing on the platform. Every listing on Rento includes the key aspects of the asset or resource such as its rental cost, availability calendar, images of the actual item, specification, and terms of rental specific to the asset.

Rento offers variety of services concerning listing items and services with initial focus on businesses and service providers to populate the platform with a broad variety of available resources, ensuring that the platform initially has enough inventory for consumers to find it appealing. Rento will be launching with primary listing segments such as household items like lawn mowers or snow blowers, through more commercial offerings such as shared offices and conference facilities, construction equipment, parking spaces, and even underutilized human resources. In addition to developing a sharing platform, Rento plans to set up at least one bricks-and-mortar rental store as a proof of concept for its sharing ecosystem.

Considering that the assets to be proposed for listing vary in financial value, the maintenance of transparency is of utmost importance. Also, in the sharing economy, reputation is key, and it’s essential that all information is verified and secure.

To this effect, Rento plans to utilize blockchain technology to:

1. Secure international and local transactions

2. Utilise smart contracts for security deposits

3. Ensure that reviews of items lenders, borrowers, services and items are real and verified

4. Reduce friction for transactions

5. Verify the transactions and ensure payment for services as well as compensation through smartcontracts for any breaches of the contract

With Rento token being only used as an incentive for creating smartcontracts, while the transactions themselves can be done in any currency, crypto and fiat.