With the invention of Web 2.0, consumer behavior and social trends have changed drastically. It stimulated an upsurge of community-sharing propelled by business-to-business (B2B), peer-to-peer (P2P), and business-to-consumer (B2C) needs in the search for new and better experiences. However, several problems still persist despite the rapid development of the sharing economy thereby reducing its potential. The major problems that needs to be urgently addressed that are limiting the growth of the global sharing economy include the trust gap, high intermediary costs, a fragmented and monopolistic landscape and the lack of risk relief. GSENetwork aims to completely revolutionize the global sharing economy to facilitate the creation of an independent network of providers and users.
GSENetwork aims to build a decentralized trust system for the sharing economies incorporated with blockchain technology. By placing more emphasis on the global sharing economy, the platform seeks to create a decentralized trust network to address trust issues that has limited the growth and expansion of the sharing economy. The GSE network will aid the interaction of every user, service or asset at different parts of the world. The platform uses blockchain technology as the enabler which facilitates the seamless exchange of value through a decentralized medium, eliminating the need for a dominant intermediary. The unique benefit of blockchain technology is its ability to power software applications including the smart contracts, in a decentralized and secure peer-to-peer network that is not managed by a dominant party.
GSENetwork plans to use a three-pillar model to revolutionize the sharing economy. They include the Decentralized Service (DService) Platform, Incentive Model and Trust Network. DService Platform offers a robust distributed service infrastructure that supports the sharing economy businesses based on blockchain technology. The implementation of the core components of DService will take place in the following areas; Transparent Pricing System, Anti-Fraud System, Multiple User Profile Rating System, and Order Dispatching System. For the incentive model, it brings in a modern approach to mine tokens via user engagement on the platform. Lastly, the trust network enables the users to build their own trust profile and at the same time receive their reward in form of GSE tokens.
The token of this platform is referred to as GSE. The system will generate a certain amount of token at a regular interval. The process is influenced by two major activities in the system: first, the participation of users in the Green Mining activities, while the other is the nodes’ involvement in accounting operation. In each specified period, the generated token will be shared among these two categories of users depending on certain proportion. GSE serves as the medium of exchange on the GSENetwork as well as providing the economic benefits which will be utilized to encourage stakeholders to contribute their quota to the growth and development of the platform. By 2019, it is expected that the platform would have undergone several transformations such as the Launch of the Public Chain, Mapping of ERC-20 to GSE Public Chain, Launch of Wallet 4.0 to provide support for DApps and the total migration to GSE Public Chain. website whitepaper telegram twitter facebook
Author - Coltpython
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