NFT's good destination is the sharing economy?

Yes. It can upgrade the sharing economy model to the rental, transfer and sharing of the right to use personal idle resources.To achieve transformation, three problems need to be solved: truly idle resources to replace excess capacity, sufficiently low operating costs and reliable payment systems.

• Really idle resources replace excess production capacity

Let us look at the definition of the sharing economy: institutions and individuals with idle resources transfer the right to use the resources to others for a fee, the transferors get rewards, and the sharers create value by sharing the idle resources of others.

Regarding personal idle resources, such as cars, bicycles, computers, and real estate, NFT is undoubtedly advantageous in terms of confirming rights and identifying assets through digital identities.

The assets affixed with the NFT identity tag, whether it is the transaction of the right of use, the transfer of the physical location, and the payment, are clearly recorded in the decentralized network, and have the advantage that the data message cannot be tampered with. If the management efficiency can be improved, it can bring a stable cash flow to individuals during the idle period of assets.

• Sufficiently low operating costs

The centralized sharing economy model requires a "light operation model". The existing model is not suitable for individuals because it requires building platforms and laying channels, which requires high capital investment and operating costs.

One of the benefits of a decentralized network system is light investment: individuals do not need to invest a lot of cost to build the system, only need to embed basic IOT equipment on idle resources, such as chips that can support signal transmission, so as to achieve intelligent management.

• Reliable payment system

The reliability of the payment system is particularly important. Traditional payment methods have the problems of high handling fees and slow payment. Intermediate financial institutions charge high handling fees, and the payment is not real-time.

All in all, NFT applications have very good prospects in the sharing economy.

NFT can help us reshape the sharing economy, but to be better implemented and widely popularized, we also need to work hard on market regulation, operability, profitability, security, and market education.

NFT's good destination is the sharing economy?

Yes. It can upgrade the sharing economy model to the rental, transfer and sharing of the right to use personal idle resources.To achieve transformation, three problems need to be solved: truly idle resources to replace excess capacity, sufficiently low operating costs and reliable payment systems.

• Really idle resources replace excess production capacity

Let us look at the definition of the sharing economy: institutions and individuals with idle resources transfer the right to use the resources to others for a fee, the transferors get rewards, and the sharers create value by sharing the idle resources of others.

Regarding personal idle resources, such as cars, bicycles, computers, and real estate, NFT is undoubtedly advantageous in terms of confirming rights and identifying assets through digital identities.

The assets affixed with the NFT identity tag, whether it is the transaction of the right of use, the transfer of the physical location, and the payment, are clearly recorded in the decentralized network, and have the advantage that the data message cannot be tampered with. If the management efficiency can be improved, it can bring a stable cash flow to individuals during the idle period of assets.

• Sufficiently low operating costs

The centralized sharing economy model requires a "light operation model". The existing model is not suitable for individuals because it requires building platforms and laying channels, which requires high capital investment and operating costs.

One of the benefits of a decentralized network system is light investment: individuals do not need to invest a lot of cost to build the system, only need to embed basic IOT equipment on idle resources, such as chips that can support signal transmission, so as to achieve intelligent management.

• Reliable payment system

The reliability of the payment system is particularly important. Traditional payment methods have the problems of high handling fees and slow payment. Intermediate financial institutions charge high handling fees, and the payment is not real-time.

All in all, NFT applications have very good prospects in the sharing economy.

NFT can help us reshape the sharing economy, but to be better implemented and widely popularized, we also need to work hard on market regulation, operability, profitability, security, and market education.