Car Renting And Leasing Becomes Easy And Fun Loving With HireGo

Car Renting And Leasing Becomes Easy And Fun Loving With HireGo

Startups
January 10, 2020 Editor's Desk
991
HireGo is the primary decentralized P2P car rental platform based on blockchain technology. With offices in Lancashire, United Kingdom, HireGo presents a decentralized marketplace for users to rent out their cars or rent cars from other users in the platform through the smart contracts protocol. In principle, HireGo is agitating the operations of existing car
HireGo

HireGo is the primary decentralized P2P car rental platform based on blockchain technology. With offices in Lancashire, United Kingdom, HireGo presents a decentralized marketplace for users to rent out their cars or rent cars from other users in the platform through the smart contracts protocol.

In principle, HireGo is agitating the operations of existing car rentals by presenting a secure and trustable marketplace with a simple interface to promote the car rentals. It will facilitate the establishment of technological standards adjusted to the car rental industry, giving a spectacular secure platform able to connect people with similar ideas.

The platform presents a range of cars for hire from lessors. All lessees need to do is choose their desired car, obtain it for their desired period, and make the payment through the HGO token. When the lessee makes the payment, it is kept in an escrow account on the Ethereum blockchain.

In the case of a conflict between the lessor and lessee, the HireGo team in charge of dispute resolution evaluates the information – reviews and comments – posted on the database. It makes the final judgment based on the credibility of the users. In the event of no dispute, the money is transferred to the lessor.

Also, there are insurance packages rendered by the platform for the car owners to cover for losses incurred during the period for which a car was rented out.

As the first-ever decentralized platform for private car rental, HireGo is setting new examples for usability in the industry by giving benefits like credibility, low fees, and smart contracts.

By implementing the blockchain technology, HireGo renders a secure and trustworthy platform for users by assuring the reliability and transparency of all transactions done on the platform. The blockchain technology gives a factual report on all users by recording all validated entries – reviews, transactions, and comments into its database.

Most existing car rentals cost is as high as 35% as transactional fees for every rental. HireGo provides an affordable platform by crediting low fees to the users who are directed back into the system for managing the platform.

HireGo utilizes a technology based on the Ethereum blockchain recognized as the smart contracts protocol. This protocol operates by reducing the role of the agents in the car hiring process by helping direct peer to peer interaction between the lessor and the lessee.

The HireGo coin indicated by HGO is an in-app ERC-20 token based on Ethereum. The currency was designed to facilitate in-app transactions reducing the trouble of employing different fiat currencies and digital currencies. Transactions on the HireGo platform will only be completed by applying this token.

HireGo is a reformist platform in the car hire industry to disrupt conventional and centralized car rentals. HireGo has been created with integrity and safety as its priority. Payment is made in advance and kept in a custody contract in the Ethereum chain of blocks; in the event of a dispute between users, a trusted person, such as the HireGo resolution team, can make the final decision.

Reviews and comments given by users will also be saved in the Blockchain, generating an accurate and reliable record of user behavior. The HireGo application natively controls these technologies, and all the technical complexity is concealed from the user.

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