Rentible (RNB) is a revolutionary solution that brings Proptech's decentralized technology to the masses and allows tenants and landlords to conveniently send and receive rental payments in various cryptocurrencies while streamlining market verticals.
-Fraud prevention with immutable case records
-Staking Liquidity Pool for Demand Rental Loans
-Focus on mass adoption and ease of use
The expansion of the joint economy is projected to reach $335 billion by 2025 (PWC study).
As the economic impact of the global pandemic intensifies and millennials face the reality of having to pay 39% more than baby boomers to buy an apartment, buying property is slowly becoming an unattainable dream that is further fueling an already unprecedented rise in the number of faces. looking for mid- and long-term rentals is estimated at around 1.12 billion worldwide, with total private residential income generated in the US and UK alone reaching $36 billion and £55 billion respectively, representing huge potential for interacting it into the booming cryptocurrency market.
As was undeniably publicly shown in Q1 2021, now is the time to develop decentralized platforms. As seen in recent months, thanks to the explosion of DeFi, NFT, and privacy protocols, consumers are moving en masse from fully centralized platforms to decentralized ones that are able to solve many of the traditional problems that exist in the markets and offer value through their explosive potential for rapid growth on a global scale. .
The current highly centralized nature of the proptech industry makes it a perfect fit for blockchain modernizing businesses, and this is where Rentible seeks to take center stage in subversion.
As a decentralized ecosystem and sharing economy, Rentible will operate in the approximately $3.2 trillion high-energy mid-to-long-term rental sector and position itself as a trailblazer for next-generation Proptech businesses that are sure to follow in its footsteps into this expanding global market.
One of Rentible's unique strengths is its appeal to both its growing base of valued users - early cryptocurrency adopters and enthusiasts, and the countless millions of "less informed" people around the world who want to move their rental transactions from fiat to crypto, but don't this. I don't know where or how to start.
Rentible will serve as a convenient entry point to make this process easier for everyone.
As shown in the statistic chart below, the fast-growing adoption of blockchain wallets is growing steadily, almost doubling in a short year, and with big mega companies like PayPal, Visa, and Mastercard bringing crypto to the masses, those numbers will grow exponentially. On top of that, judging by the technology adoption curve, even with this rapid growth, we are still in the early stages of adopting a technology that could have a significant impact on online transactions, interactions, and wealth creation.
Blockchain and cryptocurrency enthusiasts, as early adopters, are a sought-after consumer demographic consisting primarily of tech-savvy, highly insightful and broad-minded individuals, many of whom are highly committed to promoting the integration of cryptocurrencies and decentralization into mainstream business models.
Our team shares the same passion and strives to maintain a direct connection with our community, where interaction, exchange of ideas and knowledge will become an integral part of the development of the platform and the growth of the ecosystem.
The second major niche segment consists of a global need and widespread use cases that are becoming more apparent due to the unfolding disruptive impact of the pandemic. Whereas in the past, students and young professionals overwhelmingly opted for shared housing early in their careers in an attempt to lower living costs, now professionals with stable jobs make up nearly half of total tenants, especially in more sought-after cities like these. like London, New York, Milan, Tokyo and Hong Kong. In France, for example, 23% of apartment owners are over 31; in Germany, where more than 30% live in large cities, or in the UK, where the number of tenants over the age of 40 has tripled.
With a higher market resolution, due to their global mobility, the need for cheap cross-border transactions, responsibility for their deposits and protection against online fraud in the regions, international students, expats and settlers will find widespread use of the platform, as well as the case on our existing platforms for sharing at home. The 207 million tertiary students living in cities around the world, together with more than 258 million international migrants and about 88 million professional expatriates, constitute a valuable market niche, according to Finaccord's recent Global Expatriates 2021 report. In parallel with this, there is another side of the coin - landlords and homeowners will also benefit greatly from the rent. an ecosystem that will finally allow them to easily,
Rentible is in a unique position to reach these large market segments through its tokenization incentive program, cost-reducing disintermediation vertical and deep market insight.
-The Annual Fraud Indicator report shows that losses from private rental property fraud in the UK alone amounted to a staggering £918m.
-Scamwatch reported a 56% increase in rental fraud cases, many of which are related to COVID-19.
-The most common deposit fraud schemes occur when tenants pay upfront rent for a property that does not actually exist or that has already been rented out to multiple victims in parallel. Victims lose their security deposit, often sent from overseas, and find they cannot enter the property until they arrive.
-International students make up the majority of fraud victims.
Availability of crypto-lease:
However, countless homeowners, landlords and renters around the world are interested in sending/receiving rent related payments in cryptocurrencies - the vast majority of them do not know how to open a wallet and there is no gateway or intuitive platform to allow renters and landlords to seamlessly send and receive rental payments in cryptocurrencies available for mass adoption.
-Centralized platforms incur high service fees, as is the case with Airbnb, which charges up to 17.2% to renters and homeowners for bookings.
-Brokers in major cities charge very high commissions, for example in London an average of £404 is charged to tenants and 15% to landlords.
-In terms of international transaction fees, currency conversion fees and financial institution fees add up to ~7% when transferring between countries and currencies.
-In many cases, centralized platforms that store personal data have shown their tendency to manipulate, track, trade, sell, and generally misuse their members' personal data.
-They have also demonstrated their susceptibility to third party hacks and subsequent theft of their members' identities.
-A 2019 Identity Theft Resource Center report indicated that in previous years, 1.48 billion records were uncovered, all of which included full personal details, including a social security number, driver's license number, medical card, financial record, or credit card. debit information.
Many may not be able to pay their rent on time or have the funds available for an immediate deposit, especially with the predicted looming global financial crisis, and may benefit greatly from a way to get a short-term loan rather than selling their cryptocurrency and losing its potential future. value. In this matter, Rentible will seek to provide assistance either through public loans or through partnerships with third-party DeFi organizations.
Retention of deposits
At the end of the rental period, tenants may find themselves in a situation where their deposit is withheld and not returned or only partially returned to them - often for unjustified reasons.
Rentible will leverage the synergy between its team's extensive know-how in this area and the expertise of its technology division to successfully develop a state-of-the-art, next-generation platform that can address these challenges and reward users in 5 key areas:
1. Building a decentralized economy free of costly and redundant middlemen, inflated commissions and service fees for the global medium to long term private residential sector that will serve as a gateway and hub for cryptocurrency rental transactions.
2. Combining tamper-proof records with insecure smart contracts to mitigate the risk of fraud, widespread fraud, theft and manipulation of privacy
3. Establishment of Basin Core Contributions where participants can benefit from staking assets
4. Setting up a cryptocurrency lending mechanism that will allow users to benefit as a lender or borrower when needed
5. Offers multiple rewards to RNB token holders, spurring ecosystem growth
Rentible will support crypto and fiat as payment methods, and once the platform reaches a state of sustainable economics, it will solidify its vision and promote the use of immutable crypto records and transactions, whether as contractual collateral or as an ongoing financial activity.
The added value of using blockchain technology methodologies will also allow Rentible to pave the way for optimizing legacy industry procedures on a massive scale, including:
1. Confirmation of contractual disputes by the community
2. Implementation and conclusion of multi-signature agreements in the regions
3. Autonomous management of the issuance of deposits and payment of utility bills
4. Open source for linked dApps by members and localized NFT auctions by city
Blockchain-based networks allow for the rapid transfer, creation and storage of digital assets in a secure and tamper-resistant manner.
Once deployed on the chain, these records cannot be modified, are publicly available to anyone with access to the chain, can be called to execute based on given parameters, and verified by the blockchain consensus mechanism. Among other attributes, these characteristics allow parties to enter into binding digital agreements through smart contracts and execute transactions without trust.
Rentible's goal is to create a seamless and efficient platform where members can benefit from much lower costs than is possible with centralized platforms and introduce a new model for making rent-related payments using cryptocurrencies accessible to everyone, regardless of whether Do they understand cryptocurrencies?
Fraud prevention with immutable case records
Liquidity pool with community staking
Focus on mass adoption and ease of use
Token interaction chart
Features of Blockchain Innovation
Immutable block data
Decentralized File Storage
Cryptocurrency Community Pool Mechanism
Data encryption and replication
Attributes of smart contracts
Escrow Fund Management
Multilateral agreements that do not require trust
Distribution of rewards for tokens
Automatic list matching
Tenants / Landlords
Related institutions (university programs, moving companies)
Geolocalized Third Party Services
Partner sharing economies
Main development stack
Rentible combines blockchain technology with a top-notch development stack to provide easy access for less tech-savvy users to interact intuitively through mobile and web apps.
Rentible is a layered ecosystem that will serve the crypto community and open doors for new members to enter the crypto world through an intuitive UX.
The Rentible.io platform is a next-generation end-to-end rental that uses a combination of decentralized infrastructure with smart contracts to elevate the sharing economy to the blockchain age. In addition to the "standard" listing, smart search, and verification features, Rentible will introduce new features made possible by decentralization, such as a lease agreement backed by a smart contract and verified on the blockchain; Immutable records to eliminate fraud and fraud; and direct FIAT-to-Crypto payment via integrated wallets.
Through the direct payment system, users can choose their preferred payment method and specify how they want to send/receive current payments.
For example, landlords can request rent payment in cryptocurrency or FIAT, a multi-currency wallet with an intuitive user interface that serves as an entry and exit point, and $RNB as an intermediate currency.
The functionality of the Rentible ecosystem will be available when using the RNB token. The RNB will also serve as a measure to maintain ecosystem neutrality; to take advantage of increased rewards and discounts, and to be compensated for the equivalent value of FIAT on external exchanges.
The RNB token is an integral part of incentivizing users and expanding the outreach of the platform, providing added value and an improved user experience.
Use cases for the RNB token include using services in the ecosystem, invoking smart contracts, participating in community discounts, and gaining access to community pools.
-Automatic deposit release
-Automate utility bills
-Access to the screening protocol
-Placement of an advertisement
-Use of third party and partner services
-Conclusion of agreements and execution of smart contracts
The functionality will be centered around two main smart contracts: a deposit, an agreement, and a proposed later contract through a special token that will facilitate resolution. The complexity of these three smart contracts solves the common problems described in the previous section, mainly: the threat of fraud, transactions and disputes in the community.
Smart contracts are constantly in sync with user interfaces (mobile and web), so non-technical users can benefit from these new features.
Early adopters of the RNB token will be able to stake their RNB in the accelerated staking pool and receive rewards for their deposits. The accelerated staking feature will be available for 12 months and will allow early participants to earn generous rewards for staking and providing liquidity. Rentible has committed a total of 350,000 RNB to be earned as rewards over the staking period.
In order to address the issue of access to liquidity, Rentible aims to address this through a crypto-lending mechanism, or through a community internal loan pool in which a holder of more than 500 RNB tokens will be eligible to access the community loan pool and request a loan to deposit when using cryptocurrencies. as collateral or in collaboration with a third-party DeFi venture.
As a form of encouraging community members and further growth of the ecosystem, it is planned to hold community draws in which holders of RNB tokens will be able to participate. The draws will include a chance to win a symbolic prize by purchasing raffle tickets at RNB. The prizes to be distributed will be 90% of the tokens used to purchase tickets to participate in the lottery, with the remainder used to speed up the placement of tokens in the vault.
Payment for services in RNB on the Rentible platform will bring significant discounts to token users.
All transactions made on the platform are sent to their own wallet, where the RNB token will be stored. Through the wallet, users will be able to pay for services using RNB tokens received directly from the exchange, which will be sent to the vault after the transaction.
The vault will also serve as a liquidity provider for RNB tokens for users who want to pay or buy RNB tokens with FIAT. Surplus tokens in storage will be used to further expand Rentible's marketing and growth.
Cryptocurrencies are naturally subject to external market forces affecting their price movements. As a first step, the RNB token will primarily serve as a tool to streamline the rental process in the Rentible ecosystem and to provide platform functionality that will include making rental payments using more mature and stable cryptocurrencies such as ETH, BTC and many others.
The cryptosphere is still in its early stages of adaptation and is expected to be affected by regulation at some point.
As an increasing number of high-profile figures in the economic sector such as Mark Cuban and Jim Breuer, as well as top-tier companies including IBM, Nasdaq, Hitachi, and Daimler AG among major funds, publicly lean in favor of crypto, crypto markets are expected to be regulated to create positive qualities, as well as guarantees and incentives for cryptocurrency holders.
- BlockchainA blockchain is an append-only digital ledger storing a set of time-ordered transactions grouped in blocks that are linked together using cryptographic hashes.
- Property rental
- Web3Web3 is a proposed iteration of the internet with a blockchain-based decentralized architecture that enables capabilities such as built-in economic protocol and self-executable code which can be utilized to build trustless, community-owned and operated networks/systems with the goal of democratizing ownership of the internet networks.
- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.