Sharing, lending and subscription platforms provide consumers with easy access to goods or services on a pay as you go or membership basis. Coworking is a classic example.
We’ve seen countless companies ride the wave of the shared economy, with many becoming highly valued brands — such as ridesharing platforms Uber and Lyft and housing giant Airbnb.
In recent years the sector has continued to grow, and now many companies have the opportunity to tap the sharing economy further and decentralize operations. This enables companies to share or automate their workload and therefore reduce costs for themselves, as well as for customers.
The overwhelming shift to virtual work due to physical distancing guidelines means there’s an opportunity for companies to become even more decentralized.
Brian Kerr, CEO of Kava Labs, notes that decentralization requires that both the supply and demand side of a business are fulfilled. For them, this meant building a robust network.
“Decentralized systems need an influx in capital to get off the ground,” he explains. “It’s not enough to build a decentralized business model alone, you have to inject a sizable amount of cash into the system to kick-off the snowball P2P effect.”