WONO is a decentralized Peer-to-Peer platform to rent or exchange any asset. The project aims to create a community-driven, 100% crypto environment devoid of fiat, high-priced middlemen, and even the tax man.
Can the project truly create a tax haven running 100% on crypto?
Let’s have a look…
Disclaimer: This is not investment or financial advice. I’m not a financial expert by any stretch of the imagination. Most information within this article is speculative and merely my own personal opinion. Always conduct your own research before contributing to any startup projects.
Always remember that what you do with your money is your decision to make. And if that decision proves too difficult for you alone, seek guidance from a financial professional.
I may or may not receive a small allocation of tokens for creating this content. That said, I will do my best to remain unbiased and fair. I try to avoid all FOMO and FUD and never wish to impart those emotions on my fellow crypto-heads.
FYI: Certain countries are excluded from participating in WONO’s upcoming ICO. Don’t forget to check the (exciting!) terms and conditions page. No need to fret if your country is blacklisted; you’ll merely need to wait until WONO tokens are available on exchanges.
Everything is Liquid
The WONO project seeks to build their own crypto paradise upon the Ethereum blockchain. A Peer-to-Peer (P2P), purely crypto ecosystem certainly sounds enticing.
Ideally, you’ll earn a living as well as buy goods and services, all in crypto.
WONO aims to be the blockchain version of Airbnb, Turo, and Upwork, all wrapped up into a neat little package. Trade cars and homes, and work within the freelance gig economy, all by earning and spending WONO tokens.
Decentralization is at the heart of the WONO project. The team is focused on replacing the middleman with a much cheaper and more efficient version — the WONO token, built to ERC20 standards.
The WONO Platform
Imagine yourself as a freelance worker looking to take your skills to a new country. You’re going to need lodging and maybe even a car to drive.
And rather than rent those things out within the traditional fiat system, you’re going to do it all through WONO.
Here’s how WONO explains it in their own words:
Watch the video and you’ll see that WONO is certainly selling a dream. And the good news is that blockchain technology has the ability to make some dreams a reality…
The WONO Token
The project’s native WONO token is the gas that powers the entire ecosystem. Participants can use WONO to pay for platform fees, home and car rentals, plus professional services.
WONO tokens are also a means to pay for deal arbitration — should the need arise — as well as insurance.
Most transactions will occur seamlessly. No problems from either party. Yet any P2P system contains fraud to a certain degree.
Take eBay, for example. Order something and you’ll usually get it. But sometimes you don’t, and need to reach out to eBay. This is where WONO’s insurance program would kick in.
The WONO project certainly didn’t overdo it with token creation. Less than 80 million will ever flow through the cryptoshpere.
Here’s what WONO has planned for their tokens:
But, there’s a small wrinkle in the entire operation these tokens will soon power. Depending on your jurisdiction, you may be ineligible to participate on the WONO platform.
Which opens the possibility of someone like myself, who this platform is absolutely perfect for, to remain a spectator on the sidelines. Boo.
If the SEC has it their way, you won’t encounter any US citizens within the WONO ecosystem. It’s a sad reality of today’s regulatory environment. I see the good that can come of regulation. It can get ugly out there.
But barring participants solely because of geographical location is absolutely counterproductive to the problems blockchain tech is trying to solve.
The good news is that WONO is trying to comply — they’re in the process of becoming KYC compliant, opening up the US market. One can only hope…
The WONO Team
WONO’s headcount reaches well into double-digit territory. They have the size and skill sets beholden to a very promising project. The core team is deep with blockchain expertise, and so are the advisors.
There’s plenty of knowledge to be found here, and several key members have extensive experience within the exact markets WONO is trying to penetrate — namely P2P carsharing, plus accommodations and travel.
And just like their cousin project, upcoming NEP-5 token BizShake, the WONO team is happy to have Mr. Ian Scarffe aboard the advisory team.
It’s almost as if WONO and the other NEP-5s are working in tandem, with Ian giving feedback to all teams based on what is and isn’t working for the other projects.
WONO certainly has an ambitious project. Yes, it’s a tough space to gain a foothold in, but the concept makes perfect sense.
Having a place to operate on decentralized terms sounds very enticing. But just like any new economy, there needs to be a reason for people to get involved. Like when people move to Stretchumout, Oregon, to teach yoga classes.
There must be a very compelling reason to abandon fiat. Unfortunately, we still need it to a certain degree.
But projects like WONO are working hard to change our thoughts about fiat in general. They’re out to prove to everyone that we can live peacefully without it, in a trustless P2P environment.
I’m excited to see just what the future platform has to offer. And, it’ll be especially interesting to see how the economy grows.
Can I actually make a good living there? Do the projects have compensation that’s comparable to what I’m doing now? Are there other users in my vicinity?
Because we’re still in the early stages, I have more questions than answers…
How about groceries and utilities like water and electricity and trash service? Can I buy 5G Internet service on the WONO platform? No, I don’t think I’ll be able to.
But there may be partnerships in the works that’ll let me buy all of those things with tokens.
That’s exactly why I don’t foresee a “one crypto to rule them all” scenario. Bitcoin is great but it doesn’t really fit into the model of purpose-built utility tokens.
BTC has its place, but that place isn’t here. We need additional blockchains to perform interactions like the ones WONO aims to facilitate.
Like any startup project, time reveals all. And the main platform isn’t scheduled for release until Q2, 2019 — almost a year away.
I’ll be keeping a close eye on the platform’s growth. The user base is going to make it or break it.
If WONO can succeed in their mission to create a tax-less cryptopia (no, not the exchange!), we’ll see some of the gig economy’s workers transition their efforts to the platform.
And if the WONO can prove their network’s worth — and also clear the SEC’s hurdle — I hope to be one of them.
And if you’d like to get social with the team, here’s where you can find them:
By the way…
If you like what you see here and need of help getting your crypto message to the masses, I’d love to hear about your project.
Feel free to reach out to me here: blockchainauthor at Gmail