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Rentible.io: A First-Mover Platform enabling crypto-payments between tenants and landlords

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Source: Rentible

In a similar way to how sharing-economies like Uber, Lyft, or Airbnb reshaped industries and consumer behavior in the previous decade, we are now witnessing a core transformation of IT foundations via the adoption of new technologies, concepts, and economic doctrines, cementing the groundwork for the next evolutionary step of IT implementations in general, and community-based sharing-economies in particular.

If you’re a landlord renting out a property, had you received your rent payments in Bitcoin rather than in Fiat throughout 2020, your actual yield would have quadrupled if not more in 2021.

This sounds obvious to crypto savvy enthusiasts, yet let’s not forget that the vast majority of landlords and homeowners worldwide, many of whom are actually interested to venture into crypto and receive rent in BTC, ETH, LTC, or other cryptocurrencies, don’t even know how to open a wallet.

Tenants, more often than not, might get stuck one week without available funds to pay rent or to put down a deposit for reserving a flat.

This problem is expected to intensify with the impending global financial crisis in the post-covid 19 eras.

On the other hand, these tenants in need are also not able to receive a loan from now nor do they want to sell their crypto-assets, as they anticipate its appreciation in value. 

International students and expatriates moving from one country to another often send a deposit upfront to secure a property they found online only to discover upon arrival that the property is already rented to multiple others in parallel (or even that it doesn’t exist), and that they have fallen victim to the most common online “let-and-run” fraud.

These are only three examples of existing market inefficiencies that the characteristics of blockchain technology can remedy, optimize, and revolutionize when injected into Proptech (Property Technology), and this is where the Rentible ecosystem enters the picture. 

The Evolution of Renting: Cheaper, Leaner, Crypto

Rentible is a groundbreaking solution bringing decentralized-Proptech to the masses and enabling tenants and landlords to conveniently send/receive rental payments in different cryptocurrencies while streamlining market verticals. 

The vision of an autonomous, transparent, intuitive platform that will inject the industry-disruptive capabilities of blockchain technology into Proptech, from applying immutable records of property deeds to prevent online frauds and scams, through staking pools enabling participants to draw loans for short-term rental payments, and to making sending and receiving rent payments and deposits in cryptocurrency between tenants and landlords as easy as a click of a button, is the compass guiding the project’s core.

Rentible is founded by a team of seasoned Proptech developers and blockchain experts and builds upon the award-winning Lakotarsak platform and its partnering site RoomMatesUK, which were originally built to support students and young professionals looking for mid-to-long-term shared accommodation, and which grew to support over a million users. 

As a decentralized ecosystem and sharing-economy, Rentible will operate in the highly lucrative mid-to-long-term rentals market, and as the first 360° property rental-management DApp for this segment of the industry, it is set to position itself as a first-mover among the next-generation Proptech ventures that are sure to follow into this massive, yet untapped space, constituting part of a huge USD $3.2 trillion market, with 1.12 billion rentals, and a projected revenue of $335B for shared-economies by 2025.

Enter Rentible

Blockchain technology demonstrated its industry-disruptive capabilities and innovative abilities in the first quarter of 2021, with explosive mainstream exposure to DeFi and NFT principles. 

The current heavily centralized nature of the Proptech industry makes it perfectly suited for blockchain-modernizing ventures and this is where Rentible seeks to take a center disruptive stage. Rentible fuses the disruptive characteristics of blockchain technology into a state-of-the-art NextGen Proptech platform, which will offer tokenized incentives via its proprietary cryptocurrency fueling the ecosystem – RNB

Among other utilities, RNB can be used for accessing discounted features across the ecosystem – whether on Rentible or one of its 3rd party partners, receiving and redeeming rewards, gaining access to the staking and loan pools, benefiting from premium listings, and highlighting features, as well as participating in arbitration and community governance.

Rentible will utilize the synergy between its team’s extensive know-how in the field and the experience of its technological arm to successfully develop a platform remedying outdated market problems while rewarding its users through 5 main vertices:

1. Building a decentralized economy free of costly and redundant intermediaries, inflated service fees and commissions, for the global mid-to-long-term housing market, which will serve as a direct hub for conducting rental transactions in cryptocurrencies between landlords, tenants, homeowners, and flatmates

2. Fusing tamper-proof records with trustless smart contracts to neutralize the risk of fraud, widespread scam, theft, and manipulation of private data

3. Establishing deposits staking pool where participants can benefit from staking assets as early adopters

4. Setting a crypto loans mechanism that will allow participants from the community to benefit as lender or borrower upon need

5. Offering a host of rewards to RNB token holders as part of incentivizing the ecosystem’s growth

One of Rentible‘s unique advantages is its appeal to both the growing, high-value user base of early adopters and cryptocurrency enthusiasts and to the “less-informed” countless millions worldwide who are looking to shift their rental transactions from Fiat to crypto but don’t know where and how to start. 

Rentible introduces to mainstream mass adoption a new model of making rent-related payments with cryptocurrencies accessible to everyone, whether they are crypto-savvy or not, and by doing so – serves as an easy onboarding gateway for millions into the crypto-verse. 

For more details about Rentible and RNB, refer to the following:

Disclaimer: This is a paid post and should not be treated as news/advice

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.

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