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The Sharing Economy Grows Up

Jo MeunierbyJo Meunier
June 22, 2020
in News
Reading Time: 1 min read
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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.

Papaya Global - Payroll Platform

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.”

Tags: daily_digest
Jo Meunier

Jo Meunier

Jo is Allwork.Space's Senior Editor for the UK and Europe. Jo has worked within business centre and coworking circles since 2009, researching and contributing written features for numerous industry publications. She reports on the latest market news and delves into local issues with one main objective: to champion the flexible workspace industry and its members.

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