Blockchain technology offers features that many other platforms and systems fail to. The ease of use, security, and reduction in operational expenses make it ideal for today’s digital word to make management systems efficient, helping firms maximize profits while enabling users to reduce their expenses. This is especially more profound on platforms where there is a huge sharing economy, letting people rent out their excessive resources to people in need.
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Odyssey: A Voyage of Fortunes
Owned by the Odyssey Protocol Foundation, Odyssey is a Singaporean Blockchain organization that aims to build a cutting-edge, decentralized sharing economy and a peer 2 peer network. By this, the team will reduce operational costs, while improving efficiencies in the system.
The foundation, using not only Blockchain technology but also artificial intelligence (AI) and Big Data, is heading towards revolutionizing the P2P ecosystem by:
- Decentralizing and minimizing operational costs.
- Making operations transparent and scalable.
- Autonomous through Smart Contracts.
- Monetization of services.
- Incentivised participations.
- Quicker and cheaper transactions.
Sharing economy allows for renting out of products and services to people who need it, which otherwise will just be a financial and economic burden on individuals, with surplus supplies and resources going to waste.
oBike, Sharing Bicycle Platform For All
oBike is a bike sharing platform, a first of its kind in the compact urban island of Singapore. A stationless smart bikes sharing firm, it allows commuters to travel from one point to another by renting out bikes through their mobile app, allowing for a convenient and environmentally friendly transport option for all.
A unique feature of the sharing platform is that there are no bike stations. A user can simply walk to the nearest parked bike, scan the QR code to initiate renting, and pedal away. The user can park the bicycle at the nearest public parking and complete the parking.
Bicycle Made More Efficient With Odyssey
Odyssey has teamed up with oBike, integrating their e-wallet with the bike sharing application. This means that bike owners and users can pay and earn with Odyssey’s native coin, the OCN. The OCN becomes the first digital asset integration into the future of decentralized sharing economy. This will allow 10,000,000 and increasing oBike users to make fast, cheap and secure payments through the Odyssey wallet and the OCN token.
To make adoption of OCN easier for users, the e-wallets of OCN are uniquely designed to help users. The e-wallets, instead of having a string of alphanumeric characters for words, will be based on biometrics. Smart contracts are also a core part of Odyssey, letting users simply accept a sharing agreement and simply go on their way. When they will reach their destination, they can end the contract and OCN will be automatically transferred, with minimum transaction cost.
The transparent nature of Odyssey’s Blockchain system also caters for the concerns of users over privacy issues as they have to enter data, such as their names, occupations and real-time geolocation (when renting out the bicycle and moving).