Rento (RTO)

RENTO is an app connecting business owners with clients and rental services with users. It also makes room for the development of sharing economy.

Whitepaper

Important By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice.

Interest lvl

NA

Updated: Dec 12, 2018

Learn more about our rating

User Rating

Highest

5/5 • 3 votes

Claim your project

Ticker

RTO

Type

Utility-token

Token standard

ERC20

FoundedMalta

Registration countryMalta

Office addressRento Limited
Old Bakery Street 192,
VLT 1455 Valletta, Malta

What is Rento

Rento - Rent, Share, Profit - Everything You Want

Rento is creating a software solution for individuals and businesses to share items and services that, until now, needed to be purchased. The Rento solution is based on the increasing "sharing economy" market, but rather than focus on one vertical, Rento is providing a complete solution, including smartcontracts, for anyone to rent or borrow any item or service. In the same way that ecommerce sites such as eBay do not limit themselves to one type of item, Rento is providing the sharing economy marketplace. Rento is leveraging blockchain technology for the smartcontracts that ensure trust throughout the system.

The concept of sharing economy is built around the use of economic resources to their fullest potential and that is exactly what Rento is aiming to accomplish. Rento proposes a mobile application (and web platform) that allows users to list their unused assets for renting or sharing on its platform. Every listing on Rento includes the key aspects of the asset or resource such as its rental cost, availability schedule, images or video of the actual item, specifications, and terms and conditions specific to the asset.

The concept of sharing economy is built around the use of economic resources to their fullest potential and that is exactly what Rento is aiming to accomplish. Rento proposes a mobile application (and web platform) that allows users to list their unused assets for renting or sharing on its platform. Every listing on Rento includes the key aspects of the asset or resource such as its rental cost, availability schedule, images or video of the actual item, specifications, and terms and conditions specific to the asset.

Rento proposes multiple products and services segments, with its initial focus on businesses and service providers to populate the platform with a large stock of available resources, ensuring that the platform initially has enough inventory for consumers to find it appealing. Rento will be launching with primary listing segments such as household items like lawn mowers or snow blowers, through more commercial offerings such as shared offices and conferencing facilities, construction equipment, parking spaces, and even underutilized human resources. In addition to developing a sharing platform, Rento plans to set up at least one bricks-and-mortar rental store as a proof of concept for its sharing ecosystem.

Considering that the assets to be proposed for listing vary in financial value, the maintenance of transparency is of utmost importance. Also, in the sharing economy, reputation is key, and it's essential that all information is verified and secure.

Rento App

Rento App aims to expand the sharing economy beyond transportation, real estate, and hospitality industry. It allows users to rent everyday items such as real estate, office space, hardware tools, electrical equipment, construction equipment, cameras, and everything that one may require or want to rent on the platform.

Features for platform users

Features for listing owners

Rento Blockchain

Rento is creating a proprietary blockchain with specific features that are essential for the sharing economy. The chain for Rento will be used specifically for the sharing economy. Because it is an independent blockchain, Rento is able to develop the chain specifically for the implementation of this business model, ensuring that it is the best database customized specifically for the needs of the Rento ecosystem.

The Rento ecosystem features a Proof of Authority (PoA) blockchain to be used for transactions inside the Rento App, particularly for payments, security deposits, and transaction history, thereby ensuring full transparency.

Rento Model Store

Rento Model Store is a proposed rental store that will feature a wide range of assets, such as lawn tractors, boats, scooters, etc. This will not only build credibility for the Rento platform, but will also promote the sharing economy vision since all rentals will be done through the Rento platform. The Rento Model Store will provide an in-person experience, allowing Rento to get first-hand feedback as people use the service.

Furthermore, this business model also represents a pathway to building of a brand and a franchise. For an interested person to own and operate a Rento Model Store under the Rento franchise, one would need to satisfy a number of conditions outlined in the franchise agreement. In addition to the payment of the franchise fee outlined therein, one would need to purchase the amount of Rento tokens stipulated in the same agreement and hold the Rento tokens for a minimum period of two years.