The sharing economy allows idle or under utilised assets to be shared via the internet, in ways that provide economic, environmental, social and practical benefits. Whilst it has spawned a whole new range of business models and provided unprecedented entry to a range of services, the basic requirement is access to the internet and, often, a credit card. For the sharing economy to realise its full potential it will require investment into digital infrastructure and financial services to be truly inclusive for everyone.
|About||Marketplace Examples||Circular Principles||Butterfly|
The sharing economy is an economic model often defined as a peer-to-peer (P2P) based activity of acquiring, providing or sharing access to goods and services that are facilitated by a community based on-line platform.
Sharing rather than owning helps people - and increasingly organizations as well - save money, earn income, lower carbon footprints, increase social capital, boost community, meet new people, build trust (including “stranger trust”), and even enhance choice and convenience.
|AirBnB: accommodation peer-to-peer sharing|
Lyft: A ride sharing service for people to find rides from people who have cars.
‘The Dark Side of the Sharing Economy’ - World Economic Forum, 16 Jan 2018
|Share: Sharing economy can take a variety of forms, including using information technology to provide individuals, corporations, non-profits and governments with information that enables the optimization of resources through the redistribution, sharing and reuse of excess capacity in goods and services.|
None of these services would be possible without big data and algorithms that drives their individual platforms.
Rethink product utilisation or ownership. Products may not need to be purchased if it can be shared via rental, leasing agreements.
Circular Economy Butterfly Diagram
In a circular economy both natural (biological) and man-made (technical) materials circulate in production cycles. Refer to Circular Economy for a more detailed description.