A new blockchain based platform is aiming to use the distributed nature of blockchain technology to provide users with the ability to lend, borrow, and share items with individuals in their local community.
The Rexpax platform wants to allow individuals to tokenize all of the items they own and use the Rexpax network to rent them out. In order to generate the capital necessary to launch their platform, the creators of Rexpax are about to launch an initial coin offering.
In this article, we’ll take a look at the Rexpax platform and find out how it works. We’ll also take a look at the Rexpax initial coin offering and examine what it offers investors to help you determine whether it’s worth investing in.
What Is Rexpax?
Rexpax is a new blockchain service that wants to connect people to each other in order to facilitate the creation of a distributed sharing economy. The concept behind the Rexpax platform is sound- according to a recent Neilsen survey, more than 68% of people are ready to share their belongings and services with each other.
Rexpax aims to increase the availability of the goods and services that individuals are willing to share. By creating a blockchain-based platform, Rexpax is focused on creating a sharing economy of mutual consumption in which individuals are able to profit from sharing.
How Rexpax Works
Rexpax offers four key functions, beginning with item renting. Users of the Rexpax platform are able to gain higher levels of efficiency from idle assets. By listing these items in the Rexpax catalogue, owners will be able to rent them to users in their local areas.
The Rexpax platform also makes it possible to give away items that are in good condition, making it easy for individuals to distribute items that are no longer needed. Rexpax also offers a comprehensive selling function, streamlining the process of monetizing goods that are no longer used.
One of the most important elements of the Rexpax is the way in which trust is managed. The creators of Rexpax have developed a comprehensive set of standards and rules that maintain the security and standards of the Rexpax community.
Users are able to create a profile that lists friend and family information, as well as geographic location information. By verifying their address, phone number, and email address, users can increase their trust score with other users of the Rexpax platform, along with a detailed feedback process.
The Rexpax ICO
Rexpax will operate on a crypto token called REXX currency. This currency will be used to reward users for inviting and sharing the platform with new users as well as for adding new share items. Users will use REXX to pay each other for item rental services, and can benefit from REXX-based loyalty programs.
Within the Rexpax platform, REXX is used to pay for goods, services, and rent, as well as pay for promotion within the platform itself.
The Rexpax token pre-sale will launch on the 4th of December 2017, and will release a total of 2,100,000,000 REXX. Of these, 1,260,000,000 will be available for purchase across the pre-sale and the ICO itself.
51% of the total funds generated in the Rexpax ICO will be directed toward marketing and promotion, while another 30% will be directed toward engineering and development. 10% will be reserved for operational costs, 7% for legal and regulatory compliance, and 2% for “miscellaneous funds”
Rexpax Review Summary
The Rexpax concept is an interesting application of blockchain technology and, if successful, could potentially provide millions of users with the ability to access products and services on a rental basis. If you’re interested in the sharing economy, the Rexpax ICO is worth keeping an eye on.