Wono: ICO Review

What is Wono?

Wono is a P2P platform that encourages freelancing and rentals. Thanks to the Interplanetary File System (IPFS) and Ethereum’s blockchain, the community and platform are decentralized. As a result, users are able to interact freely without the need of a middleman.

Wono ICOFreelancers are able to obtain a salary and spend it without having to pay fees or taxes. Wono’s main intention is to create a bridge between the real world and cryptocurrency. Users can act as employers and hire skilled individuals or become freelancers, exchange movie subscriptions, or rent/rent out a car.

Wono’s platform is similar to today’s industry giants such as AirBNB, Upwork, or Toro which provide different services or products but for a lower price than their B2C competitors. Wono plans to solve these problems through the use of blockchain technology.

The platform uses smart contracts to help users ensure that the task will be completed and will compensate the users if there is a cancellation issue. Since there are no financial institutions or banks involved, Wono transactions don’t have exchange rates. Instead, users are paid in Wono tokens for the service or work that they provide.

Aspects

  • Wono users can play 4 different roles at once: arbitrator (determine the affected party during disputes), vendor (create job postings or rent out valuables), the customer (perform jobs or rent), and a guarantor (stake for deal termination).
  • Wono solves 5 issues within the P2P economy: taxation of vendors, high commission, deal cancellation, fraud and non-transparency in reviews and ratings.
  • Wono combines the uses of AirBNB, TaskRabbit, UpWork, and Toro on the blockchain.
  • Wono users can spend and earn tokens on a platform that doesn’t require them to pay taxes or have exchange losses.

Token Metrics

  • Website: View
  • Whitepaper: View
  • Fundraising Goal: 7,000,000 USD (Soft Cap) – 20,000,000 USD (Hard Cap)
  • KYC Required: Yes
  • Pre Sale: June 30, 2018 – July 29, 2018
  • Main Sale: July 30, 2018 – August 29, 2018

Bounty0x username: jeremycole

Positives
  • Decentralized Freelancing: Unlike Upwork where users are paid in high fees to participate in their platform, Wono doesn’t have fees involved due to its decentralized network.
  • Earning Potential: You can earn Wono tokens on the platform without having to waste time withdrawing your funds. As a result, the token price and demand will grow fast.
  • Deal Insurance System: With Wono, users can stake and earn extra tokens via participating in its platform.

Negatives
  • High Competition: There is already a multitude of ICOs that plan to bring the same benefits to the freelancing industry. Wono will have to create an innovative product that will help separate it from its competitors and gain a higher market share.
  • Product Release: We want to see a working product of Wono. Since it has been released in 2017, we’ll have to wait until the ICO finally releases a fully working system.
  • Website Design: There are a few small grammatical errors on the site which can reduce its credibility to investors.

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Jeremy Cole has been a crypto enthusiast for years. First getting involved in Bitcoin mining in late 2010, he has now diversified his portfolio and dug deeper into the alternative coins of the space. As new and exciting ideas arise in cryptocurrency, Jeremy is always looking for the next big thing and a coin which not only appreciates in value but also has a steady increase in use and demand. Jeremy has seen the rise of coins such as Ethereum and by studying the technical and fundamental side of ETH, he has learnt how to find similar coins that are likely to have a bright future.

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