Project Main Details
Sharing economy has taken the world by storm with its various patterns as sharing, exchanging and renting among consumers. From eBay and Craigslist to Airbnb and Uber, sharing economies have been gradually replacing the outdated and traditional business models.
1. Sharing Economy
Sharing economy, also called collaborative consumption, is a new business model rising from the Internet. In brief, consumers can share goods and services with others by way of cooperation, and ownership is not a must.
Sharing economy is a revolutionary business wave in the Internet era; it maximizes the utility of resources in human societies, turning the economy from mass production and supply to customized ones. All we need is to post goods and services on certain platforms; it can be an apartment, a car, an office or a site on Facebook. But these are shared with a new scale; it can create a unique culture and a new business model of yours, mine and ours.
For every individual, sharing economy can make full use of values created by every labor. People will have a new lifestyle and everyone is involved. We are no longer limited by time and space, and can fully utilize the resources.
2. Major Business Model of Future
Like the Internet, sharing economy is here to reshape the economy, change the society, and bring people opportunities. Take Airbnb for example, its house rent services are covering over 34,000 cities in 190 countries with more than 2 million rooms, a figure larger than any of the global hotel chains as Marriott, Hilton and Starwood. Under traditional property based model, it’s hard for any business to rise up in such a short period, while Airbnb could make it by recreating and reusing the idle house resources. It achieves an explosive growth in the short rental market through the model of “sharing, personalizing, social networking and dealing”.
Then about Uber, it has been running business in more than 400 cities around the world, taking millions of passengers every day. The company is now valued at 62.5 billion USD, far exceeding some major airlines like Delta, American Airlines and the United airlines.
Every day in every part of the world, all sorts of new and funny sharing platforms are coming on to markets. Every minute, there are people joining the sharing economy trend, no matter you are a service provider, consumer or both of them. According to the April PWC report of 2015，sharing economy has become the world 5th largest industry. It’s estimated to accumulatively earn more than 335 billion USD by 2025. However, the actual speed is far more than the PWC prediction. Data show that in 2015, the US market scale of sharing economy is about 510 billion USD, representing a 3% of the total GDP； and the figure is 499 billion USD in China in 2016, representing a year-on-year growth of 103%. It’s predicted that in years to come, sharing economy will keep an annual average increase rate of 40%, and is expected to account for more than 10% of the total GDP in 2020.
The Times describes sharing economy as one of the ten great thoughts that will change the world in the next decade. Bloomberg classify sharing economy as one of the greatest innovations of the past 85 years. The famous futurist and economist Jeremy Rifkin even predicted that sharing economy will become a dominant economy mode in the second half of the 21st century.
3. The Age of Sharing Economy
Information or experience, no matter how perfect they are, if not shared, will mean nothing. We used to laugh at Japanese tourists, saying the way of traveling is meaningless; their cameras instead of themselves are the ones who were actually traveling. Now we all love taking photos to share nice views and food on social networking platforms. Things not shared online are in turn meaningless。
Sharing economy has been reconstructing people’s social life in a complete way. Social resource sharing is already showing its prospects. Every day, more than 3 million pictures posted onto Flickr, 700 thousand new registers in Facebook, 5 million active users on Twitter, 900 thousand blogs released on websites and almost 20 hours of Youtube videos per minute, equal to 90 thousand standard length new movies of a whole week.
Society will be sharing in the future. After meeting one’s own needs, everyone can share his or her idle assets to others. More than this, we can share valuable information and personal experience. A time of sharing economy has already come!
On this planet, there’s nothing that cannot be shared. Terrace is a platform to share business information and create values based on mobile Internet. Users can pay with advertisement terrace to share seller information, the system will return double advertisement terrace to them. All ad terraces will be stored in the terrace pool; users can withdraw them after completing the system tasks. The nice food you have tasted, the nice hotel you have tried, the fantastic movies you have watched, the beautiful clothes you have bought and the wonderful views you have seen… all the beauties of life can be shared on the Terrace platform and bring you unlimited profits. The more valuable information you share, the more profits you will receive.
As an asset, Terrace applies the cutting-edge technology blockchain to keep distributive legers. Blockchain is a decentralized credit system that focuses on the trust and security issues. Despite without trusts among different nodes, the distributive system is able to settle the security issues based on decentralized credit system for P2P transactions, coordination and cooperation by using data encryption, timestamp, distributive consensus and economic incentive. Terrace is managed by blockchain and will be transparent, secure and reliable for users.
Terrace is also launching its payment function. If users pay with Terrace Pay, they can get the same amount of return from it. Sellers supporting the Terrace Pay will also gain returns and can set the cost and profit rates in the process. Goods price are the amount the customers need to pay, the cost rate is the income in real terms, while the profit rate is decided by the system to be stored in the Terrace pool, and they can gain extra returns from this as well. This will trigger a chain effect, attract more Terrace Pay users and help sellers better run their businesses.
At present, it’s urgent for physical store sellers to find a way out for the Internet has created a deadly impact on them. Then comes Terrace! The O2O business model can not only expose the brand but also will guide the trend and bring more consumers to their stores. This is what we advocate as the new retail, and will also help the physical store sellers out of the valley.
The Internet giants like Google and Facebook are earning money through ads, but in Terrace, you can not only share seller information, but also can earn money from entertainment. The company does not need to pay for the ads. When the target users view the ad and interact with it, they will then share the ad with other users, helping sellers to interact more with the customers. Such spreading pattern will overturn the traditional way and bring profits to sellers and users.
The new business model of “sharing economy+new retailing” will optimize the O2O resource allocations. It will not only create values for users but also for sellers.
A time of sharing economy has come!
Everyone is involved!
Let’s embrace the future! 2017-06-12 07:11:02 GMT 2017-06-18 14:00:00 (GMT +08:00) Perth Yes (click here to learn more about ) Closed 19 19 0 direct invitation(s) have been sent by the voice seeker resulting in 0 audition(s) and/or proposal(s) so far. Voice123 SmartCast is seeking 20 auditions and/or proposals for this project (approx.) Invitations sent by SmartCast have resulted in 19 audition(s) and/or proposal(s) so far.
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