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What is Sharing Economy?

Crypto Terms Glossary: What is Sharing Economy?

The sharing economy is a socioeconomic system built around the concept of mutually sharing resources within a network to benefit all its members. This process is typically enabled through peer-to-peer (P2P) networks which allow for the purchase and/or exchange of goods and services in a way that differs substantially from traditional company-to-customer business models. In recent years, the sharing economy model has given rise to a variety of innovative business models, ranging from ride-sharing to decentralized content platforms. Open public blockchain networks help realize the potential of the sharing economy by virtue of their decentralized, transparent, and censorship-resistant nature.

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