Distributed Computing Fuelling Sharing Economies
Business World India|March 11, 2023
THE SHARING ECONOMY can be attributed various names – collaborative economy, peer economy, gig economy
Distributed Computing Fuelling Sharing Economies

Call it what you may, the sharing economy has become ubiquitous and mainstream in a very short period of time. Ordering grocery, food and medicines, hailing a cab, renting apartments, you name it, it can be done from the comfort of our homes using an app. Not only that, one can even get a loan without going to the bank, which is just one of the many big-ticket applications of a sharing economy.

Following are some applications of a sharing economy 

Cab hailing – Uber is the best-known example of a sharing economy. In India, we also know of Ola as a competitor to Uber, while there is Lyft in the USA and Canada. These apps basically match the rider with the driver who picks up the rider from the designated location and takes her to her destination for a fee.

Benefit – for the rider, ease of reaching the destination without the hassle of driving, parking and maintaining a vehicle. For the driver, income in return for time and effort.

Peer-to-peer lending – individuals can lend or borrow money without going through the bank. The platform itself acts as the intermediary and the interest rate is decided based on the credit history of the individual who is borrowing. The risk of default by the borrower is borne by the lender.

Benefit – opens-up possibilities for borrowers who typically would not be entertained by banks and financial institutions for a variety of reasons. For the lender, it is an attractive avenue for investment, the risk notwithstanding. 

Apartment renting – platforms such as Airbnb operate across the globe and help people find accommodation, whether for a short duration on vacation or on a long-term lease.

Bu hikaye Business World India dergisinin March 11, 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Business World India dergisinin March 11, 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

BUSINESS WORLD INDIA DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
MEMORIES & IMPRESSIONS
BW Businessworld

MEMORIES & IMPRESSIONS

Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.

time-read
3 dak  |
October 19, 2024
The Robotaxi Market
BW Businessworld

The Robotaxi Market

The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.

time-read
1 min  |
October 19, 2024
And the Nobel Prize Goes to AI
BW Businessworld

And the Nobel Prize Goes to AI

The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.

time-read
1 min  |
October 19, 2024
Ola Electrified
BW Businessworld

Ola Electrified

Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.

time-read
1 min  |
October 19, 2024
Sharp Slide in Industrial Output on Eve of Deepavali
BW Businessworld

Sharp Slide in Industrial Output on Eve of Deepavali

India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.

time-read
1 min  |
October 19, 2024
Heralding the Solar Era with Sustainable Electrification
BW Businessworld

Heralding the Solar Era with Sustainable Electrification

RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more

time-read
2 dak  |
October 19, 2024
A WELL-GREASED MACHINE
BW Businessworld

A WELL-GREASED MACHINE

The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar

time-read
4 dak  |
October 19, 2024
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
BW Businessworld

DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH

For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh

time-read
7 dak  |
October 19, 2024
Disruption Ahead: Beyond Organisation Charts and Structures
BW Businessworld

Disruption Ahead: Beyond Organisation Charts and Structures

ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.

time-read
3 dak  |
October 19, 2024
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
BW Businessworld

Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment

We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.

time-read
2 dak  |
October 19, 2024