Bitsrent News

Journey of Bitsrent

Ishwar Acharya — Tue, 02 Jul 2019 04:33:31 +0000

Bitsrent is newly created company with USA roots, headquartered in Costa Rica. Bitsrent token, core token of the Bitsrent Limitada, is created to ease the renting process and now emerging as one of the potentially grown fuel token. As the researchers at Bitsrent are on this for more than a year now, they came up with the new idea to implement the token payment and will give the discount for those who pay for the travel with the token. Since the crypto market is world wide, the idea obviously always had a huge potential. The bitsrent token is ERC-20 based on ethereum blockchain. At recent, bitsrent is thinking globally and has been collaborating with different international team to tie up.
Bitsrent is probably the first smart contract platform which is global and powered by ethereum network. The main aim of the bitsrent is to ensure the earnings of the drivers with the simultaneous lowering costs for our riders. The bitsrent team is committed to provide the different options for accepting payment for the users. Using bitsrent will allow users to exchange their cypto tokens to other preferred crypto currencies of their convenience and availability. The mission of the team at bitsrent is to make sure of low cost of communication at global stage with easy recipient services through bitsrent token and Blockchain Technology. For this purpose the team has been developing the highly efficient and effective database for storing and executing information. Summing up our aim is to provide on-time, safe and convenient ride sharing services leveraging the booming blockchain technology.

Bitsrent will function as a platform where BTR works as fuel.

Ishwar Acharya — Wed, 08 May 2019 23:52:37 +0000

Bitsrent is a frictionless peer-to-peer ECR20 token providing the consumers with the revolutionary platform to pay the incentives in digitized fashion for the benefit of all. Users can flexibly pay based on their respective needs in no time with our user friendly and secure interface.
We decided to build bitsrent not only because leasing tokens is a vital function for the health of the Bitsrent ecosystem, but it’s also squarely aligned with the values that bring many of us together to build decentralized networks. Also it overcomes the tiresome paper-based transaction to the new era of blockchain network.Simply put, Bitsrent facilitates peer-to-peer transactions to empower individuals to use their assets without a middle man influencing the process or taking a cut.
Bitsrent is being deployed with highly functional and responsive interface for the better experience of the user. Using bitsrent is really simple and easy. When you need to pay for any renting and leasing services, you just need to authenticate the transaction.
We are making Bitsrent grow as the Ride Sharing token creating the new incentives for both the drivers and ride sharing clients. It is important to ensure that we might not be the one and only way to dissect the problem but we have been working hard to create the platform that would deliver a lot of immediate practical advantages to our community.
Unlike Uber and other ride sharing application, we want to make clear that we are the platform of payment for those type of application along with the ride sharing facility. Our ecosystem will not constrain the drivers where they perform the ride. Any person with the perspective entrepreneurial spirit can use our Dapp and cover up some parking expenses and gas.
We are aware that the industry of cab and leasing is not a easy cup of tea and many practical concerns may arise. We are always aware with our domain expert to find the specific and exact solution to each of the matter. We want to provide the hassle-less environment for the service provider and consumer and knit them closer by letting them interact and get things done quickly. We also invite the inquisitive minds to explore the various powers of peer-to-peer ride sharing economy and how these powers can be amplified by using and cooperating with the bitsrent community.

Bitsrent Is Launching a Ride-Sharing Service Application Using BTR.

Bitsrent — Sat, 30 Mar 2019 06:44:12 +0000

While the world is being dense with the new vehicles and transporting medium which
ultimately is clogging up the traffics in the major cities, the ride sharing concept turns out
to be the viable solution to the ever longing chaos of traffic congestion. Ride sharing
concept is same like uber and carpooling which not only reduces the traffic congestion
but also keeps the service price as low as possible using previously available
infrastructures.
According to the research by Statistic around 685 million people are predicted to use
ridesharing services around the world. Being the most sustainable way of traveling it
needs to be addressed with proper technological advancements. The future of
ridesharing ultimately depends upon the mobile apps, navigation services, network
connectivity and the major payment gateway.
The Bitsrent token after its successful ICO has stepped to develop the Dapp as the
payment option for the ride-shares. With around 6.66 billion circulating supply, the total
Supply is 9.16 Billion out of which 20% Team Token is locked for 12 months, 5%
Bounty, 5% Loyalty & 5% is for reserved. It is now proving itself to be the ride-sharing
token in the blockchain industry. Integrating distributed ledgers into the ride sharing
application is sure to change the concept of ride sharing leading to future innovation.
Focusing on the peer-to-peer transfer of the fund will eventually increase the number of
people occupying the same ride rather than being on the different rides. The payment
token is not only used for paying particular ride but the payment action will be rewarded
with certain reward tokens.
To sum up, Bitsrent being the lead renting and leasing token, it aims to bring the people
sharing the ride under the same roof of available immutable ledgers promoting
collaboration among the rider-sharers. The payment will not only be secure but also
transparent and meritious to the users.

The Roadmap of Bitsrent

Ishwar Acharya — Thu, 13 Sep 2018 10:25:25 +0000

2016

November to February

While tackling a rental problem, the pitfalls and drawbacks of the rental and leasing industries were
realized. Thus, the Bitsrent owners spent significant time to come up with a solution. With the world
moving towards decentralization and Blockchain, the owners finally found an inspiration. Hence, the
idea for decentralizing the traditional rental and leasing industry was conceived.
Subsequently, thorough research followed where the owners visited several cities around the world to
get a holistic view of the global industry. After understanding all the issues and problems, initial
development began.

2017

February to October

Market research and a proposed solution was not enough. It was soon realized that the project needed
a team that boasted of the most esteemed and talented research, IT, marketing, management, and
financial professionals who can utilize their years of experience and knowledge to revitalize the out-
dated rental and leasing industry.
After the compilation of a successful team, the software development department came up with a
complete architecture for the platform.
Subsequently, presentations and proposals were designed as part of a marketing strategy for the
project’s acquisition to potential investors.

2018

March to June

By mid-2018, the BTR Phase 1 was completed. The development team came up with its own
Blockchain called Orbit Blockchain.

August to September

With confidence from the project’s initial development as well as backing from investors, the
team participated heavily into Blockchain conferences including the Blockchain Meetup in India
and USA.
Subsequently, meetings were arranged with the managements of various cryptocurrency
exchanges. The purpose of these meetings was to list the BTR token for the public.

September to October

After a series of successful meetings, cryptocurrency exchanges like KuCoin and HITBTC agreed
to list the tokens.
It was announced that the platform would participate in Blockchain exhibitions and visit a
number of cities in the USA for project marketing and discussions with industry’s heavy-weights.
The marketing campaign of the mobile application (iOS and Android) is also expected during
these months.

October to November

Meetings are scheduled with other popular cryptocurrency exchanges for the token listing.
The team is expected to make an appearance in the Blockchain expert meet-up and seminar.

2019

December to January

The application for the platform is expected to be available on Android and iOS app stores by the
beginning of 2019.

February to March

The first quarter of 2019 will be focused on receiving input and feedback of the industry’s experts
so if there are any flaws, they can be rectified and future development can be improved.
The project will further expand by its listing on major cryptocurrency exchanges.

March to April.

The P&M campaign is expected to be launched from North America.
The technical implementation of the project is expected to be completed.

May to June

The development team will integrate the BTR application with additional features and
functionalities.
After North America, Europe will be the next destination for P&M campaign.

August to September

The team will be involved in the P&M campaign in New Zealand and Australia.

October to November

The last P&M development will be initiated in Asia.

2020

January to February

Work will be done to strengthen the BTR Management Device System and enhance its quality.
Partnerships will be sought with various industry brands for acquisition purposes.

March to April

Phase 2 of BTR will be initiated and the technical development will commence.

July to August

The project will be finally implemented on a global scale with the approval of rental and leasing
businesses.

Challenges in Rental and Leasing Industry and How Bitsrent Is Successful to Overcome These Challenges

Ishwar Acharya — Thu, 13 Sep 2018 06:56:38 +0000

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.

Bitsrent (BTR) a Transparent Cryptocurrency in Rental & Leasing Industry

Bitsrent — Thu, 13 Sep 2018 03:54:48 +0000

Traditional industries and businesses in the world struggle greatly due to the lack of transparent processes. Customers, investors and other stakeholders are often reluctant to conduct business transactions because of organizations often provide few details regarding its products and services. Questions like how they are getting financed, what the technology behind their solution is, or how they keep the customer data safe, are often ignored.

In today’s world, transparency is critical for both individuals as well as businesses to establish trust. The recent Facebook controversy regarding the usage of customer data serves as a thought-provoking example. In such a non-transparent world, Blockchain’s emergence has become a sight for sore eyes. Blockchain saves and stores data through ‘blocks’ linked together where encryption and security measures eliminate any possibility of a breach.

However, more importantly Blockchain offers the global industries and businesses an exciting option to adopt a platform where data and processes can be tracked and monitored by the customers from the beginning to the end. Customers can have a peek into the system to see how the system works as well as how their personal or corporate data is managed. Similarly, they can engage in trustable processes where everything is monitored.

For example, the supply chain industry is using Blockchain heavily to ensure that the goods are properly transported from the manufacturers to the customers, all the while ensuring that each stakeholder gets a view of the transported products.

How BTR Bring Transparency in the Rental and Leasing Industry?

One industry that could particularly benefit from the Blockchain’s transparency is the rental and leasing industry. Fortunately, Bitsrent’s arrival has sparked hope for the industry’s resurgence and transformation so it can progress in a futuristic and decentralized world.

After going through the different issues and problems of the traditional rental and leasing industry, the BTR team realized that only through the decentralization offered by the Blockchain technology could they accomplish transparency in the rental business processes.

So how exactly does BTR bring transparency?

Record Keeping

Since all the landlords and tenants data is stored on the Orbit Blockchain, hence BTR removes any risk of identity theft. Blockchain’s immutability repels any attempt of tampering the documents.

Easily Tractable

In traditional rental and leasing industry, there is no proper tracking of a property’s ownership to the stakeholders. Similarly, often payments are stuck in the centralized financial systems and losses are incurred by all the parties.

Through Bitsrent platform, tractability is completely implemented. The BTR token assists to follow a property’s transfer to a tenant with real-time updating in Orbit Blockchain. Similarly, the quick business transactions on BTR’s ecosystem monitor a token payment from one account to another. As a result, all the payment and property processes would be highly transparent to all the stakeholders.

Minimizing the Fraudulent Activities

While the Orbit Blockchain maybe public, however this does not in any way mean that the identities of the BTR owners and users are also public. BTR utilizes modern-day encryption algorithms and tools to perform encryption on the customer data and identities. Therefore, customer identification and financial details are masked and hidden from the third-parties.

Locking the Team Tokens

As a gesture of goodwill, the Bitsrent team has reached the decision to lock their funds for a year. This means that no Bitsrent official can sell their funds in the next 12 months. As a result, public and investor confidence is expected to increase in the platform.

Bitsrent (BTR) Ethereum Powered Platform Purely a Utility Token

Bitsrent — Thu, 13 Sep 2018 03:42:45 +0000

The cryptocurrency boom has swept over the world. Whether it is the Dubai Government or an IT giant like IBM, everyone is integrating cryptocurrency platforms like Blockchain, Ethereum, DAG and others into power their decentralized systems.

Among these platforms, Ethereum has overseen substantial rise and development. As the IT prodigy Vitalik Buterin dabbled in Bitcoin’s development, he came to a life-changing realization that could go on to transform the cryptocurrency world. Buterin came to the conclusion that Bitcoin was not powerful enough to address the global centralization issues and thus embarked on a mission to develop a new cryptocurrency, Ethereum.

Ethereum is also based on Blockchain. However, instead of being used solely as a payment mechanism, Ethereum focuses to power decentralized applications and platforms through its network. Today, more than 1000 Dapps have been launched from Ethereum’s Network while Ethereum-powered tokens are also nearing the 1000-milestone. These tokens are called ERC-20 tokens.

How Bitsrent Takes Ethereum’s Advantage?

The team at Bitsrent realized that Ethereum could be integrated with their Orbit Blockchain to create efficiency and convenience in the BTR ecosystem. As a result, thorough IT research initiated and after going through the entire Ethereum Network, a decision was reached to incorporate certain Ethereum features with BTR’s functionalities.

ERC-20

The first step was to design the BTR token in compliance with the ERC-20 standard. There were two significant reasons behind the decision.

To make use of Ethereum’s network interactive with other decentralized platforms and applications.
To facilitate BTR’s token’s exchange and trade. ERC-20 tokens are easily stored with other tokens in Ethereum-powered wallet. As a result, complexity is reduced for owners and they do not have to waste resources on separate BTR wallets. So, whether a landlord has to pay some charges or a tenant has to pay rent, BTR can be easily sent from one wallet to another.

Smart Contracts

Perhaps, one of the most brilliant decisions undertaken by Bitsrent team was the use of smart contracts for rental and leasing agreements. Traditional rental and leasing agreements are hard to be enforced while there is also a sense of uncertainty for them to be tampered with by a third party.

Smart contracts are protocols through which an agreement can be created, verified as well as implemented without any intrusion from any stakeholder. As a result, they are considered to be extremely secure and transparent for business transactions. Additionally, the progress in a smart contract can be easily tracked.

For example, consider an individual Mr. A. Mr. A is interested in renting a car using the BTR system. By using the BTR smart contract, Mr. A can agree on certain conditions with the car rental company B, like the duration of rental or the charges to be paid. After both parties’ confirm their approval on the rental agreement, the smart contract will initiate.

Subsequently, the smart contract monitors Mr. A and ensures that he does not break any condition set by B like taking the car out of the city. Similarly, the contract can track the time and assist Mr. A in returning the car on time. As a result, BTR eases concerns for all the stakeholders through its smart contracts.

Final Thoughts

While there are countless ERC-20 tokens in the cryptocurrency sphere, there are only a handful platforms like Bitsrent that have managed to incorporate and utilize Ethereum’s Network for addressing real world problems in such an innovative way. The future of the rental and leasing industry seems to be highly bright and secure with the arrival of Bitsrent for carrying the burden of the billion dollar industry.

About Bitsrent

Bitsrent — Thu, 13 Sep 2018 03:37:47 +0000

About Bitsrent

The traditional rental and leasing industry is a billion dollar industry. The revenue and profits are rising year-by-year in the rental industry. Rental and leasing industry is mainly composed of renting or leasing of three components: Commercial, residential, and vehicles. However, despite the industry’s success, the industry struggles due to archaic and obsolete business practices.

Bitsrent is a next generation cryptocurrency token that revitalizes the out-dated rental and leasing industry with decentralization. In Bitsrent, all the rental records will be updated on its own Blockchain. This Blockchain is named Orbit Blockchain where immutability of the records will ensure that maximum transparency is achieved. Likewise, the project is also powered by Ethereum and possesses an ERC-20 token. Ethereum’s smart contracts and Dapps make up for an important part of the project.

Utility Token

Through Bitsrent, customers can perform all the basic rental activities with considerable ease. Bitsrent brings all the real-world business processes of rental and leasing industry like submission of information, rental agreements, and business transactions of payments to the Orbit Blockchain.

Records of both the tenants and landlords will appear on the Blockchain where they will be continuously updated with real-time processing. Unlike other platforms, the costs of business transactions in Bitsrent are significantly minimized to negligible levels. Similarly, the factors of scalability and the performance have been especially addressed as the platform engages in extremely quick transactions.

For example, suppose a tenant has to rent a certain property in an area. It does not matter where the tenant resides. The tenant can use the Bitsrent platform and login to submit all their relevant personal information like names, addresses as well as financial information like bank account and credit card details. The tenant can then find a property and initiate communication with a landlord.

After finding a suitable property, a rental agreement can be signed, which is special as it will be performed on the back of a smart contract. The rental agreement consists of the terms and conditions that both parties have to follow for things like repairs, etc.

The smart contracts will ensure that all the terms and conditions are followed by both the landlords and tenants and penalize the offender accordingly. Similarly, all the weekly, monthly, and yearly payments can be processed through a few clicks on the Bitsrent application.

Universal Loyalty Program

The project also consists of a Universal Loyalty Program. Through the program, permanent users are provided rewards and incentives for their trust in the platform. With every BTR purchase, users will receive a specific BTR token in their wallets. Similarly, they can also engage in the redeeming of the token for any future purchases. This means that users can always turn the token into any other cryptocurrency or cash.

Bitsrent Participated on Blockolony’s Blockchain Meetup New Delhi India

Kailash Karki — Mon, 27 Aug 2018 12:05:39 +0000

We always participate on Blockchain events all over the world to make our blockchain community strong and to tell our services and effort to make Rental & Leasing industry more easy using Blockchain technology.

Bitsrent (BTR) Revolutionizes Everyday Rental & Leasing Experience Using Blockchain Technology

Ishwar Acharya — Mon, 27 Aug 2018 10:05:22 +0000

The Blockchain technology has reinvented industries, government institutions and even basic routine
tasks like grocery shopping. It has applications in a wide range of industries that include finance,
banking, supply chain industry, and automotive, as more and more sectors have been adopting the
Blockchain platform.
Recently, a new Blockchain-powered platform, Bitsrent has emerged as a game-changer in the rental
and leasing industry.

The Problem
Traditionally, home and business owners undergo a great deal of difficulty dealing with their properties
due to the complex rental policies and leasing agreements. Often the lack of transparency leads to
problems for both the tenants and landlords. Sometimes, a party engages in fraudulent practices by
tampering with the property documents and gets away undetected and unpunished.
Often these issues lead to legal cases, and what may seem like a small misunderstanding culminates into
damages of greater proportions for all the stakeholders involved.

The Answer
So the question that arises from the above-mentioned predicament is how is it possible to increase
transparency in the rental and leasing industry?
Well, the answer lies with Blockchain technology which can be used by a trustworthy cryptocurrency
platform to ease the daily worries of all the stakeholders involved in the rental and leasing industry. This
application is provided by the Bitsrent.
Bitsrent has used the transparency of the Blockchain to ensure valid and reliable transactions. Since,
Blockchain is immutable; hence it is not possible to tamper with its data.
Bitsrent helps by:
Decentralization – Unlike other tokens, Bitsrent does not use the term ‘decentralization’ half-
heartedly. Instead, its own premise of facilitating users depends on the decentralization of the
rental and leasing processes and preventing its users’ loss of time and money from the
traditional centralized authorities.

i) Smart Contracts – Bitsrent uses the most popular feature of Ethereum known as Smart Contracts
in tandem with the Blockchain to maximize its potential. With Smart Contracts, leasing
agreements can be improved greatly as Smart Contracts run independently and executes tasks
based on terms and conditions that are agreed upon by both the parties.
ii) Negotiation – This means that clients will not have to meet their landlords and real estate agents
face-to-face and can easily use Bitsrent’s platform to negotiate a fair price for the rent.
iii) Global Reach – Whether you are moving abroad for your studies or you want to expand your
business, you do not need to indulge yourself in the complexities of the traditional rental
procedures and can be equipped with a global tool through the Bitsrent platform. Bitsrent helps
clients pay from anywhere at any time.
iv) Automation – Standard and mundane activities and tasks that are required in the leasing
industry expect individuals to travel a great deal for the provision simple details regarding their
personal, residential and financial matters. Bitsrent aims to rescue individuals from these time-
consuming activities and helps automate the submission of these details easily through its
platform.

Final Thoughts
Bitsrent is not the first cryptocurrency in the real estate industry, nor will it be the last. However, its
applications and execution so far seem promising. With the support of strong partners like Uber, Hertz
as well as a vastly experienced team behind its back, Bitsrent has the potential to change the rental and
leasing processes for the better. The official pre-ICO of the token is expected to be launched in
September 2018.