As technology uses data smarter, sharing economy is growing

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As technology uses data smarter, sharing economy is growing

Umbrellas

Shanghai, Friday, rain expected. Another rainy day in the city, leaving for work by public transport is quite popular, and carrying an umbrella for the regular days of rain the norm. However, all this might be about to change, and before you begin thinking of a conspiracy to change the weather, it’s the smaller item that is changing.

With advances in technology, and decrease in cost of components, there are now 10,000 umbrellas on the streets of Shanghai, each can be rented instantly. Some may remember when this happened before at the beginning of 2017, that project didn’t get off to such a great start, losing 300,000 umbrellas. Justin Jia, Zhejiang Tianwei Umbrellas, has taken up the challenge, the Chinese entrepreneur has created a pioneering sharing app for umbrellas, and currently you can rent one of the 10,000 umbrella’s in the city.

Using both a deposit, and then scoring on the person’s behaviour, eg. reporting , damaging, returning on time, etc. the data is key to the profitability. Rather than monitoring the umbrella, it is more the person that is being monitored. Much like you may improve your credit rating, soon you’ll be able to improve your share-ability rating.

So next time it is a rainy day, you soon may be able to leave your umbrella at home.

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