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When people try to predict what the future will look like, they are seldom able to guess right. Most of the time we think about the big things without formulating reasonable hypotheses about how these would work and what sort of technology and networks would make them possible.
New Trends in Technology
This is why blockchain technology is so interesting. There are very few science fiction books that foresaw an idea like this, but the technology is very likely going to end up being the backbone of most of the technology and innovations we utilize in the future.
Smart contracts are a clear example of an unexpected manifestation of something we have been talking about for ages: artificial intelligence. Smart contracts are mostly just crafty and clever methods of making a computer’s performance capabilities similar to that of a human’s.
The “internet of things” was a feature of each resident’s house in the cartoon show “the Jetsons”, but is now becoming a reality as companies find ways to bring this technology into the average home. It has always seemed simple in principle to create appliances that worked on a network and could be controlled by a smart home, but it was never economically viable. The added utility is more of convenience and novelty than actual necessity, so it couldn’t be prohibitively expensive, otherwise users wouldn’t buy it.
Revolution of Old Industries
From examining all these different technologies (IoT, smart contracts, and blockchain technology), it should become clear many industries will be revolutionized now that these technologies can be easily implemented.
The car sharing industry is one example. Right now, the reason car sharing hasn’t caught on as much as the demand would indicate is because people are not willing to trust strangers with their cars and are worried about safety. Having the ability to quickly rent a car through a website or mobile application would be great, but it requires some way to mitigate the risk.
A company called Darenta has found a way to solve this problem. Blockchain technology can be used to create a network for the sharing of insured cars, so that everyone can rest easily knowing their possessions are in good hands.
A core part of the network is the ability to make payments with bank cards and cryptocurrencies (this is where the smart contracts come in). Costs would be cut to the point of being around 30-60% cheaper than traditional car rental services. These companies represent the current competition, but are ripe for disruption in a world where many people are willing to rent out their own cars if the price is right. The lower capital costs create a unique opportunity for anyone willing to jump in and harness the untapped potential in cars not currently reaching full utilization.
Geolocation is another technology that has been available for a while but only recently became attainable for widespread use. With Darenta, it would be possible to track the movements of your car on a map, or by using GPS/Glonass.
Where Darenta Can Take This
From examining the market opportunity and looking at the way the current trends are tilting in the world, it is clear that car sharing has a future in our world. Darenta is well-positioned to take advantage of the new wave of blockchain technology and capture this market.
It is currently in the midst of the ICO for their token, ProducToken. What makes this token special is its use case within the Darenta network. When you pay by tokens, you get a 50% discount from the service commission. This makes for a very appealing deal for users, and Darenta also incentivizes users to leave reviews by rewarding them with tokens for their feedback.
The idea of having a unique use case is not new, but not all ICO’s demonstrate this strength, which is why Darenta is a special option. The hope is, by providing global service ability to car owners and leveraging their powerful technology, Darenta will develop a dominance in the car sharing space.