Category: Business

Sharing economy is an economic system in which private individuals share assets and services, either free or for a charge, often using a community-based online platform. The primary concept behind any sharing economy business model is that of access versus ownership: rather than buying an asset, the consumer rents it from someone else. Sharing economy platforms bring together owners and consumers of assets and services and facilitate a marketplace in them. The sharing economy platform itself rarely owns any of the assets it offers. For example, Airbnb does not own any hotels, and Uber does not own any taxis.