BizShake is a Sharing Economy 2.0 ecosystem that will allow P2P transactions without intermediary costs for trust provision, based on the Blockchain technology, greatly reducing transaction fees for users.

In the first part of the article I reviewed some of the main features of the Bizshake ecosystem – the SmartRent and SmartPawn applications as well as the SmartCertify and SmartIdentify systems.

SmartDispute

SmartDispute is another core application. This system will help resolve any major dispute cases between the parties during a transaction.

The system will work on three stages:

Users will be allowed to resolve the dispute between themselves with the affected user requesting compensation from the other. The penalty can have a fixed value or be chosen by the user depending on the situation and is to be accepted or counteroffered by the other person.

If there is no agreement after 2 rounds of negotiations, the requestor can escalate the dispute case and engage the Panel of Arbiters – a group of 5 users at the highest credibility level randomly chosen by Smart Contract.

The Arbiters will vote and emit a verdict (penalty as a percentage of the amount claimed by the user who escalated the dispute). The compensation, as decided the by the Arbiters, will be transferred from the deposit locked in the lessee’s wallet to the lessor and unlock the remaining deposit.

After the round of judging each Arbiter will review and score the vote of the other Arbiters using a score system from 0 to 5. An Arbiter with a reputation of less than 3.5 points after 3 arbitrations will no longer be qualified to be in the arbitration.

Application Programming Interface (API)

One of the coolest things in the BizShake project is their planned Application Programming Interface (API) that will allow developers to access the BizShake blockchain smart contracts and build their own applications, using the exact same infrastructure like the core BizShake applications like SmartRent or SmartPawn. This will help entrepreneurs and blockchain engineers create their own P2P sharing services depending on their business needs and requirements.

BizShake will strongly encourage developers from all over the world to implement new applications based on the business logic for vertical market or specific asset class in order to further enhance the adoption of the BizShake business model.

Fees and Comissions

The Bizshake ecosystem will charge a 5% fee of each transaction value on the blockchain – 5% rental fee on SmartRent or 5% pawn interest on SmartPawn. The Panel of Arbiters in SmartDispute will charge 2% fee from the amount claimed by the user who escalated the dispute and the Certifier Users in SmartCertify will earn a commission for every certification from the asset owner.

Tokenomics

The token used on the BizShake blockchain will be the BZS with a total supply of 200 000 000. 50% of the tokens will be distributed during sale and the other 50% as show below.

Funds will allocated in Product Development (50%), Marketing (25%), Business development (15%), Legal (5%) and Other (5%).

BZS token holders will be able to vote for all strategic business decisions in the so-called Token Holders Steering Committee (as part of the BizShake Governance model) and elect one member of the Board of Directors members.

Additionally, the token holders will be entitled to receive 30% of the dividends distributed by BizShake Inc.

Team

The BizShake core team consists of group of Computer Science and Engineering specialists, Digital Marketing and Design gurus, cloud solution architecture and enterprise architecture graduates and even one IT researcher at CERN (yes, CERN, the guys with the Large Hadron Collider). Project advisors are mainly serial blockchain entrepreneurs from across the globe and corporate law specialists.

Conclusion

The Alpha version of the BizShake platform is ready and available on the official webpage here: https://alpha.bizshake.io/. There are already few products listed for rent there, so I can say we have a working product. It is just a matter of time before the final version is completed and all above-mentioned applications come in play.

I really like the P2P platforms and the overall idea of the sharing economy, so they can only benefit from the blockchain technology. The distributed ledger will assist in building trust and remove high intermediary fees, whilst providing decentralization and security. I think the BizShake platform can gain huge success in developed western countries were overconsumption is already a problem and people are shifting from buying and owning to renting and sharing.

Social Media:

Webpage: https://bizshake.io/

Telegram: https://t.me/bizshake

Twitter: @BizShake_ico

Disclaimer: Part of the article group.

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