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The Sharing Economy: How And Why It Works
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Technologies have become the driving force of the modern world and its major economic spheres. The sharing policy of goods and services is not an exception. The sharing economy is a socio-economical system, based on the principles of sharing and shared consumption. It generates an economy with a current volume of assets equal to $15 million. By the year 2025, it is prognosed to rise above $300 billion. At the same time sharing economy is accepted in a different way around the world. For example China’s government predicts that sharing would comprise 10% of the GDP by the year 2020.

The main idea of the sharing economy is based on a collaborative consumption. It allows customers to receive goods or services when they are needed, rather than buying them. In fact, the sharing economy works and changing the approach we think of the products and services market. It makes possible to get access to a much larger variety of the goods than it was before.

Great examples of companies that are a part of the sharing economy can be Airbnb, Uber, 3DHubs, Lyft, Couchsurfing etc. These are projects that have successfully implemented the policy of joint use. For instance, the combined market capitalization of Airbnb and Uber is $31 billion and $68 billion, respectively. 3D Hubs is one of the world’s largest network of 3D printing services available in more than 160 countries and Lyft is the ride-hailing company which operates in more than 350 cities in the U.S.

            With the existing technologies and understanding of the sharing economy model, it is possible for customers to have a wider choice of goods and improve efficiency and sustainability of the society.

Sharing economy