How Europe manages the sharing economy

Unlike Bitcoin, Ethereum is also able to transfer
information and value of any kind.
"It [Ethereum] resembles a new level of understanding
of what cryptocurrencies can do," said Walid Al-
(ISOC).
Sometimes described as a decentralised world
computer, Ethereum can run programmes, exchange
information and value.
SMART CONTRACTS
that may one day rival more traditional online
currency that allows for so-called smart contracts.
"We can use this new database that nobody owns.
That means Uber doesn't own it, that means Airbnb
doesn't own it," said Wright.
Wright said people then started thinking about how
the blockchain could be used in the sharing economy.
happen in 20 years," he said.
THE INNOVATORS
Some are already trying.
the smart contract and Ethereum concept into
practical applications.
A smart contract is a small programme that acts as a
digital middle-man, gets money from multiple people,
and provides designated services.
Placed on a blockchain, which is immutable and
transparent by default, it could create the trust people
seek when they sign up to services like Airbnb and
Uber.
According to the company's website, Slock.it wants
to give everyday things, like work space rental, the
ability to receive payments and enter into complex
agreements and transact without intermediaries.
In March, it secured some $2 million in seed money to
develop its Universal Sharing Network (USN) project.
Photo: BTC Keychain
SHARING ECONOMY & EUROPE MAY 2017— 33