Cryptocurrency in the Self-Storage Industry?

Yes, we believe that over the upcoming years cryptocurrency and blockchain technology will revolutionize many industries. We already see this happening with gaming and e-commerce, but we believe that even the most boring of industries will undergo a massive transformation led by blockchain technologies.

For those not familiar with who we are, we are STOW IT. We are a peer-to-peer storage marketplace. Think of us as the Airbnb for storage. We specialize in storing items on wheels, like cars, trailers, RVs, and more. OK, that’s our pitch, now let’s talk about how we are using blockchain technology, cryptocurrency, and APIs to bring storage into the 21st century.

Traditional storage started in the 1950’s and has remained unchanged since. After we had a terrible experience with traditional storage, we decided to change the way people use space and think about storage. We now have nearly 1,000 spaces in Colorado with hundreds of hosts and thousands of successful transactions. Here’s a summary of what we provide.

Our love of all things crypto started evolving about 2 years ago when a few of us bought our first Bitcoin. When the uncertainty was still high and no one knew what the future would hold for Bitcoin, let alone the thousands of coins since. Once we saw industries like gaming taking advantage of the blockchain technology we started looking at our own business and asking ourselves, “Why can’t we use blockchain to improve our industry?”.

Now we are working on implementing blockchain technology, through the use of APIs and our STOW IT TOKEN, into our existing platform. We will do a summary overview here. Look for some of our next posts to get into the nitty-gritty details about our token, the utility, and implementation timelines. If you can’t wait for this info, you’re in luck! You can find most of the details in our WHITEPAPER.

Here’s our plan:

1. ONE CLICK TRADE TECHNOLOGY (OCTT)

We are using the latest API integrations developed by the team at Radar Relay and built on the 0x protocol to bring blockchain and the token economy to individuals that have never interacted with digital currencies. By using our One Click Trade Technology, our users will be able to trade the STOW IT Tokens in real time for USD with a single click.

A breakdown of OCTT

2. EXISTING USERS

We are rewarding our existing userbase for completing milestones. Not only will our hosts make more money, but they will be rewarded for making money. Our renters will also be rewarded for saving money on storage with STOW IT. We have tested these assumptions by offering rewards and the result has been a resounding improvement in loyalty and reduced churn.

3. SMART CONTRACTS AN DEPOSITS

In traditional self-storage, there is a lack of transparency. Through using the STOW IT TOKEN, our users will have access to smart contracts and deposits. This will bring transparency, like never before, to the rental process.

These uses will be what we build first to bring blockchain and the token economy to our existing users and the thousands of new users we will be gaining in the upcoming years. For a timeline view, check out the STOW IT TOKEN website.

We believe that these uses will not only help expand STOW IT, but will encourage other industries to take advantage of these technologies to revolutionize their processes and their security. Progressive industries like video streaming and data security have begun the transformation, but there are still hundreds of industries using outdated technology. We hope to be a pioneer and show that boring and outdated industries can have a real change and increase their impact with the use of blockchain technology and cryptocurrency.

We look forward to your comments and hope that you follow our progress.