Slock.It: “Economy of Things” Blockchain Sharing Technology?
Slock.it is the name of a Universal Sharing Network that is hoping to dominate the global financial and asset market, as well as build on the value of tomorrow’s Internet. The company behind Slock has figured out that since two thirds of the world is willing to share its assets to get back a financial reward, with the figure being as high as 94% in China.
Their platform uses modern technology to make it possible for people around the world to share and grow the economy. This means people can share everything from taxi fare and bed and breakfast to automated vehicles and business services.
How Slock.it Works
At its core, Slock is an open marketplace where users can rent, share, or sell anything from real and virtual products to services and currencies using the Internet of Things and Blockchain technologies. The USN can expand the efficiency of manufacturer-to-consumer and employer-to-employee interaction.
Slock brings all the benefits of Blockchain including faster, transparent, auditable, and secure transactions to how people trade and transfer funds in the real world. This technology is built to be embedded in another budding technology – the Internet of Things.
Blockchain and Internet of things working together gives property owners an opportunity to sell unused assets, rent out vacant apartments, lease machinery, and hire artisans without dealing with third-parties. Slock is radically simplified to make the journey towards blockchain simpler, intuitive, and impactful.
The team behind Slock.It has been on a mission to develop an information infrastructure that can support the Sharing Economy since November 2015. The project, codenamed Universal Sharing Network (USN) is built on top of Ethereum’s Smart Contracts blockchain that offers the user a set of powerful tools for desktop and mobile access to all platform features.
Slock is known to be cost-effective because it leverages public infrastructure that incurs no capital outlays. It is interoperable, secure and transparent.
Slock is easy to use and can be used to locate and track, find, rent, manage, or even sell assets and currency using smart contracts. Simply Open the app go to Find an object nearby, tap Pay for it then Use it. Because it is an online service, users can use the service 24/7 and from anywhere in the world.