The problem DRentforcement solves
- Solving the problem of Optimal Resource Utilization and current issues with the renting platforms.
- There are various B2C platforms currently in the market, which gives users a choice to borrow some products for temporary use but doesn't provide the users with the flexibility to rent their unused products.
- Considering a C2C platform (centralized one), wherein users can rent and borrow products from, involves various issues such as trust of the user, emotion linked with the product, and safety, the most important and concerning factor. Also, validating a user becomes hard in this case.
- Creating a Decentralized C2C renting platform, which has all those flexibility which a centralized one provides along with a few other benefits such as transparency among the users and no control over a single organization. Contracts are used to govern the whole renting platform.
- We have created a platform, wherein users can upload their products on rent for a flexible period.
- Borrowers could directly place orders for any product they require for a flexible period.
- Validations before placing any order.
- Users can connect with the owner of the product after borrowing them.
- Deployed the smart contract on Matic Testnet (Mumbai).
- Deposit based mechanism for more trust.
- Using NFT's for asset sharing and control
- Integrating a staking system (for products)
- Improving the validation and authentication process (using tokens)
- Incorporate a selling and buying platform too (for older / used products)
- Ownership modifications for renting and selling purpose
Challenges we ran into
It was our first time, building a dapp from scratch along with the frontend. Linking the contract with the frontend using the web3 library was a tough task (for newbies to dapp development like us). Also, we tried to use the updated functions (provided in the metamask docs) and not the to be depreciated ones (mostly in November 2020, by a major metamask update). Also, we were not aware of some of the industry patters for developing dapps and hence was interesting to learn that too.