Technology from year to year is increasingly experiencing unlimited growth. Many parties are in droves to innovate on the existing technologies to get new formulas which later be used to make other tools or application that can be useful for humans. It certainly gives a signal for human because almost in every activity that they do will have at least one modern tools application to make it easier.
One purpose of the presence of technology in human life is to make it easy for humans to carry out all their life activities. Technology gives the impression that everything that humans do, can save time, space and money. It also can help increase human’s productivity from before because they can transfer the time, space, and money that they have, to do other things so that all of their tasks can be completed.
The technology that currently has a positive effect on human life is the blockchain technology. Blockchain, which is a decentralized database system, has been adopted by many platforms to run the industries they want to build. Rento, which is a sharing economy industry, has adopted this blockchain technology to develop its platform. The reason why the blockchain was chosen as the system used for the Rento platform is because of its transparency and openness so that it can be accessed by anyone connected to the internet.
Rento is a sharing economy platform that will help you find the goods, products, or services that you want without having to pay more. You do not need to buy items that are only temporarily used because Rento provides goods, product, or service rental facilities. Rento will rent items that are less useful or not used, to other people who need these items. Besides, being able to help those in need, items that were previously less useful can be reused according to their functions.
Before using the Rento platform, of course, you have to know how Rento workflows and what benefits you will get. In the article below, you will know how to register Rento to the benefits that you will get after joining Rento.
White paper: https://rento-app.io/assets/whitepaper.pdf
Rento Transaction Workflow
Rento has a goal to create a sharing economy ecosystem that can connect goods, products, or assets that are underutilized or unused with the people who need these items. Those who need do not need to buy goods and can choose to rent. This can also reduce the expenditure of each person to buy goods that are only temporary to use. Rento wants to provide innovation to the existing industries through the first sharing economy that is ready to build success in the hospitality and transportation industry.
Rento targets smartphone users who want the ease and speed of renting goods with just one click and the request will be processed immediately. If you are interested in using the Rento platform as owners listing, you need to pay attention to the following transaction workflow from Rento so that later you will not be confused. Likewise, those of you who are interested in using Rento to borrow goods, below will also be presented with steps to rent a product or service.
1. Register your product or service for rent
u The first step you have to do is download the Rento application on your smartphone. You can get a link to download on Rento’s official website, https://rento-app.io/
u The next step, after downloading, you can register your account. When it is finished, you can go to the Application
u The third step, select the “Add offer” option
u After that, you can make an offer by entering relevant information about your product or service. Such as product or service description, price, location, and specifications. Make sure no information is missed.
u After making sure the information is complete, you can activate the listing. Your listing has entered the rental system.
2. Rent a product or service
u The first step is after you create an account, you can log in to Rento Application.
u Next, go to the search bar menu and search for the product or service you want to rent listed on the platform. If you want more specific search results, you can activate the filter and sorting feature so that the search results become more streamlined.
u If you have found the product or service to be rented, read carefully the information available. If you feel right, you can contact the owner or listing agent of the desired services through the built-in chat.
3. Blockchain transaction smart contract
After the borrower contacts the listing owner and has reached an agreement, then both parties can proceed to the next stage, namely making a smart contract. A Smart contract is made to be able to make the transaction and only with a one-click function.
u The listing owner will provide transaction details through the Rento intuitive interface. The details that will be received by the borrower include the price, the rental period, the security deposit, and the currency received.
u The user agrees with all the conditions specified. After that, the borrower can make a deposit that will be returned after the transaction is completed.
u After that, the smart contract will return the security deposit by deducting the rental fee. For example, if the deposit is $ 1000 and the rental fee is $ 200, then the amount returned is $ 800.
4. Direct Transaction
Direct transactions can be done if both parties have agreed to do so outside the Rento platform
u Applications are used as a medium or place to find, rent, or provide the product or service needed
u All transactions carried out expire outside the application with the agreement of both parties and agree to the terms of the transaction
u Both parties determine which transactions will be carried out directly. Including types of payments whether bank transfers, cash payments, or other methods.
White paper: https://rento-app.io/assets/whitepaper.pdf
If you talk about blockchain, it certainly will not be separated from the discussion of digital currencies used for transactions or cryptocurrency. Rento as an application that adopts the blockchain system, uses cryptocurrency in conducting product or service rental transactions.
In addition to the use of the blockchain system, Rento also applies smart contracts to leasing products or services through the Rento platform. The aim is for transparency of information and clear rental agreements. But on the other hand, it turns out that smart contracts can also be used to raise funds. It is what Rento uses to develop its rental or sharing economy platform. Smart contract technology allows people to issue tokens that can be used for fundraising. The funds generated will later be used for development, daily operations, marketing, and additional solutions on the Rento platform.
Rento provides Rento token purchases available on its official website. To be able to make a purchase, you must log in to the investor panel by clicking on the Investor Log in button in the upper right corner of the website. If you have entered the website, you will be asked to go through the KYC process from Rento. After that, you are asked to show some photos of your personal documents such as personal identification cards or passports and documents that prove the address where you live.
Unfortunately, there is no direct sale of tokens through smart contracts. The following are ways you can buy Rento tokens:
1. Choose the method of payment that is fiat or crypto
2. After that, select the crypto or fiat currency that you want to pay.
a. For fiat, you can use Euro, USD, and PLN
b. While for Krypto, you can use Bitcoin, Bitcoin Cash, Litecoin, Blackcoin, Dash, Decreed, Digibyte, Dogecoin, Ethereum Classic, Ethereum, Game Credits, Komodo, NEO, PotCoin, Qtum, and Vertcoin.
3. After determining the currency to be paid, then send the transaction
4. Next, you can draw the token to the external wallet
Rento uses the KYC / AML protocol for their platforms and at the Token Sale event. If you want to participate in Rento Token Sale events, investors must complete KYC by providing details of government-issued identities. Like a passport or proof that is listed as a valid address. Although investors can buy Rento Tokens without completing KYC, tokens cannot be withdrawn until they complete KYC. Later, Rento will also work with AML agents to ensure that participants are verified and are eligible to participate in the Token Sale event.
If you intend to do business diligently on this Rento platform, buying tokens are the right choice because there are a number of benefits that are obtained for Rento token holders. The benefit that you can receive is that you will get the lowest price for Rento tokens that can be used as a fee on RentoBlockchain. In addition, it will be easier for ICO participants to become Rento Model Store franchise owners. This is suitable for those of you who want to be part of the Rento franchise. Another benefit is a cheap deposit to participate in the Rento Model Store franchise.
The benefits obtained are not only beneficial for users who are interested in franchising. There are other benefits which are the most important thing for the sustainability of the sharing economy. It is to help the growth of the sharing economy. You will also be a rentoshare holder after Rento accepts the license. And finally, after issuing security tokens, shareholders will get dividends from the company’s profits.
After the description of the benefits of the Rento token holder, the following are tokens that will be available for purchase. There are four stages of buying Rento tokens, the entire stage of which is from October 16, 2018, in the first phase to February 28, 2019, which is the last day of the fourth stage. In case you missed it, at this time you can participate in purchasing in the fourth stage that took place on February 1st, 2019 until February 28th, 2019 at a price of $ 0.12. The available tokens to be sold are 105,600,000 RTOs
Rento tokens are initially based on ERC 20. The company plans to transfer Rento to the PoA Blockchain and all transactions that occur on the Rento platform will be based on the smart contract. It also allows all transactions to use all currencies, namely Krypto and fiat and fees for smart contracts can only be paid in Rento Tokens.
One of the benefits of Rento token holders is the possibility to become RentoShare holders once Rento gets the license. But besides that, Rento also wants to issue shares to Rento companies so that everyone who has invested in Rentoshares will receive dividends and can also channel their opinions for the progress and development of the company. However, RentoShares purchases are possible only for Rento Token holders. This is due to their privileged conditions to become shareholders.
For the initial establishment of Rento sharing platforms, here are details of the token distribution and distribution of funds carried out by Rento:
Tokens sold : 264,000,000
Owner’s Token : 305,000,000
Token for Bounty : 6,000,000
Team and Advisory Tokens : 25,000,000
Application Development : $ 4 784 500.00
Team and office : $ 6 863 500.00
Marketing : $ 6 445 000.00
License : $ 160,000
Assets : $ 1 547 000
If you are interested in participating in a token sale event organized by Rento, Rento recommends the My Ether Wallet and eBit system as Rento recipients. It should be noted that Rento is a token that is compatible with ERC20. It means that participants can use other wallets that are compatible with ERC20. Among them are Trust, Ledger Nano S, Trezor, Metamask, Coinomi, Partity, and Mist.
The Rento platform will go through various stages before finally entering the cryptocurrency market. The first stage is the phase of the token sale event which has four stages, carried out from October 16th, 2018 to the last phase, which will be on February 28th, 2019. Subsequently, the application will be launched in December 2018 and June 2019, for example, the rental will be launched. Then one month later, Rento will release Rento blockchain and in the third quarter, Rentocoin will enter the cryptocurrency market.
White paper: https://rento-app.io/assets/whitepaper.pdf
Posted by: kurniawan05