Problem Statement:

• Solving the problem of Optimal Resource Utilization and current issues with the renting platforms.

Current Scenario:

• 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.

Our Solution:

• 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.

Implementation:

• 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).

Future Work

• 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