BizShake (BZS): ICO Review

What is Bizshake?

BizShake is an asset allocation optimization ecosystem which targets the sharing economy providing an innovative p2p (peer to peer) method. BizShake’s concept has been designed around blockchain and its fundamentals of being decentralized so that transactions are unable to be tampered with, engraving trust into the overall ecosystem. Users will be confident that they are not being taken advantage of and be encouraged to share with Bizshake – who have created a SmartDispute System to defuse any transaction conflict that may arise during your experience on the ecosystem.

bizshake icoBizShake’s business model will involve two business practices; Smartrent and Smartpawn. Smartrent will encourage Bizshakes users to ‘rent’ out their specific assets for an agreed amount of time with other users. On the other hand, Smartpawn will provide users with ‘short-term loans that are backed by an asset, from another user (lender.)’

Aspects

  • Blockchain and the nature of decentralization: Trust and transparency integrated into all transactions so no-one is better off. Intermediaries are not needed in the processes of sharing or payments.
  • NEO Blockchain: BizShake has designed its ecosystem on the NEO Blockchain as it can exert scalability, with the capability of accomplishing 1000 transactions per second. The NEO Blockchain also uses delegated Byzantine Fault Tolerance or dBFT which can be considered to be one of the ‘fairest’ ways to create new blocks on the blockchain ‘without the need for mining’ (Proof of Work, PoW.) NEO is also compliant with government blockchain regulations so the trust concept on the ecosystem is also emphasized.
  • User ID and Credibility level: Each consumer of BizShake will have to make a user ID containing certain valid information. With each user ID will be a given credibility level dependent upon their past transaction history to ensure full transparency between users. Even new users who have no credit rating may find it hard to engage in sharing on the ecosystem can also benefit, as BizShake will use external sources that are available on the NEO blockchain to also rate the user so that you don’t have to waste time building up a new credibility level.
  • Decentralised Dispute system: Arbitration rights will be assigned to users with the most respectable credibility rating. A solving system will then be implemented to decide the level of penalties dependent upon each case to ensure whoever is accountable is reimbursed rightfully with a small commission rewarded to the arbiters who release their judgment call.  Users with high value assets can use BizShakes SmartCertify concept to ensure the assets authenticity, condition and value are up to scratch.

What Issue Does it Solve?

BizShake believes that supplying market access to goods and services globally, that have been uploaded by the user to share, can improve the economic welfare of the people. This is because the competitiveness of the overall economy is enhanced as more people have access to these goods and services, driving down the prices overall, creating an improvement in peoples social responsibility and overall living standards. BizShake goes even further as they have provided a platform, Sharing Economy 2.0, that is not directly intervening in the transaction ‘but regulated by the smart contracts’ to minimize any transaction fees. This again keeps prices low so that there is greater welfare in the economy.

Token Sale Information

Bounty0x profile: @jeremycole

Disclaimer: All information on this post is made to educate our readers. Don’t invest in any ICO unless you’re confident about its capabilities and do so at your own risk.

Positives
  • Peer to peer communication will provide further trust between users
  • SmartDispute system so that both parties of a transaction are fairly treated if a complication arises
  • All transaction fees will be at a flat rate of 5%
  • Can provide goods and services that weren’t originally available to certain markets

Negatives
  • Arbitration rights given to users with the most respectable credibility rating may end up failing if left unregulated. Its a very good concept but the level of penalties may vary largely depending on the arbiter and what they think is acceptable

We will be happy to hear your thoughts

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