Bitsrent is a rental and leasing next generation token that aims to solve certain problems and provides
effective solutions to modernize the global rental and leasing industry. These problems and their proposed
solutions are the following.
Problem #1: Transparency
The traditional rental and leasing industry is based on a centralized model where business practices are
either dependent on the pen and paper model or out-dated rental management systems. In either case,
fraudulent activities plague the industry, and it is difficult to trace the actual owner of a property.
Similarly, often the stakeholders struggle with negotiations and agreements because there is no system
that can identify the truthfulness of either party.
Solution
Bitsrent truly adopts decentralization through its Orbit Blockchain and Ethereum Network. All the rental
and leasing agreements, details of the parties, payment information, and other relevant information is
stored on the Blockchain while smart contracts ensure proper compliance of terms and conditions. Hence,
Bitsrent achieves maximum transparency where fraudulent activities and misunderstandings are instantly
reduced and provides a platform that can truly accommodate the global rental and leasing stakeholders.
Problem #2: Inaccuracy with Customer Records and Billings
Sometimes, customer records are lost in a natural disaster, like a storm or fire. As a result, crucial
agreements and ownership documents are lost. Similarly, records are not managed properly and updating
consumes significant time. Additionally, the charges and payment figures are also a huge reason behind
quarrels and fights between landlords and tenants.
Solution
Bitsrent comes with a Blockchain that can ensure trustable storage and processing of customer data. Data
will be continuously updated with each transaction, and Blockchain’s immutability will dismantle any
doubts regarding the authenticity of the data. Similarly, due to Ethereum’s smart contracts, customers will
be charged accurately without any possibility of additional or inaccurate fees.
Problem #3: Privacy of Customer Information
In the traditional rental and leasing industry, often personal information, like the address of a resident, can
be misused. Often paper documentation is accessed and stolen easily and crimes like identity thefts can
occur as a result. Similarly, in online rental management systems, DDoS attacks, ransomware attacks, and
other cyber attacks continuously lurk, resulting in data breaches and data loss.
Solution
All the private, personal, and financial information of landlords and tenants is now stored in the Orbit
Blockchain. Orbit Blockchain’s security protocols ensure the protection of data against any cyberattack or
theft.
Problem #4: Slow and Expensive Fees
Rental and leasing agreements often incur significant charges whether you have to pay to the bank or
engage with a centralized service. Likewise, despite these heavy charges, they are unable to process
payments quickly. As a result, valuable time is lost and a potential business may receive significant losses
due to their inability to relocate in an office space in due time.
Solution
Bistrent promises negligible fees. Whether a tenant has to pay monthly rent to the landlord or an
individual needs to rent a car on an urgent-basis, immediate processing of payments is provided with
extremely low fees. Therefore, along with trustable transactions, Bitsrent also ensures quick and
inexpensive transactions.
