Cryptocurrency appears to be slipping into just about every part of the economy in some way or another. At its core, this type of payment simply helps consumers to safely and effectively trade tokens and invest online, ensuring that they are able to grow their wealth. However, there are smartphone apps and various campaigns that want to expand the reach of this currency to something more. Consumers are quickly being able to make purchases online and even in some sports arenas with cryptocurrency, which is why RentaCity wants to push the limits by using it to pay for rent.
What Is RentaCity?
RentaCity is not exactly its own campaign. Instead, it is a smart contract that uses the Ethereum platform, described as “a service of providing goods for rent with further purchase.” Basically, B2B is partnering with the idea of what Rent-A-Center provides to consumers. However, instead of having consumers pay each month for the furniture they rent, they allow them to rent a wider range of equipment over the token’s platform.
Unlike other projects, this cryptocurrency venture does not include decentralization. The purpose is incredibly specific, and every area has diverse needs for their rentable equipment. The company borrows from foreign entities to make this project functional, and they have already made the purchase of various equipment at prices that most consumers would not want to pay. With complete circulation of the funds and equipment, consumers that invest in this venture will be able to see pure profit and continual accumulation of funds.
Even though businesses are typically able to get a loan for relates experiences from a bank, renting out commercial equipment is not something that is offered by other businesses. Within this contract, clients will have access to this equipment, with the choice to buy later. They will also be covered by a warranty, an exchange service, and a return policy. While most rental companies only allow customers to engage in a long-term contract that they eventually have to buy out, RentaCity can offer short-term leases that cover just the time of a single event as well
Renta City REC ICO Details
The only way to use this platform is to participate in the REC token, which is only found with the Ethereum platform. With its purchase, consumers can purchase and trade on the platform, as they use it for the rental purposes as well. Just one of the REC tokens will be worth 1/1200 ETH.
Once the ICO is offered, there will not be a maximum number of tokens that can be claimed by an individual investor. However, the website indicates that the duration of the ICO will be minimal and will primarily correspond to the specific needs of the investor.
The tokens will not be assigned immediately. Instead, consumers receive them in stages. Each stage has a cap, because the company wants to monitor how well the campaign is working as a smaller scale, before it expands.
Rent & Keep Goods And Equipment Token Timeline For Renta City
This company is not new in the industry in any capacity. In fact, the company has been around since 2006, when they entered the market with hotels, restaurants, and bars. Since then, they have already launched a project to rent or purchase used equipment, and the various lengths of contracts have been made available.
In January 2018, this current project began, and they opened the Bounty section of the website on Bitcointalk. The Bounty-program itself did not begin until the first of February. The next step that the company is looking to take is to launch the first marketing stage of the contract by March 1st, 2018.
Contacting Renta City
Even though the website has a lot of information about the use of REC tokens, along with the way the contracts work, consumers may still be left with questions. To get clarification on the contacts, or to get involved, consumers can submit their name, email address, and question through the form at the bottom of the homepage.
Renta City Summary
RentaCity offers something new to consumers that is not available in either the standard industry or the crypto world. With the ability to create short-term rental contracts, and to completely work using the Ethereum platform, consumers can even get smaller rates than if they were to take on similar contracts. Consumers may not be able to get much of the REC tokens to store for future use, but the company urges participants to get the tokens on more of an as-needed basis.