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C2C commerce in a way, called as peer-to-peer e-commerce, is a basic concept to grasp and a quite trendy business model for many companies lately. It bases on with an existing platform customers who would be the supplier, and supplier who could be the customer. This type of platform transaction goes on certain platform and business runs between direct customer themselves. This business engagement is being on platform, but the business is direct as this is the substantial basic structure that we see in C2C commerce.

The way of business and the model itself differs from business to business and conceptually has evolved based on the business pattern of certain industries. It is a structure of business based on mutual benefit of 2 parts and then uses the platform as true way as platform. The platform itself is a basic place that transaction has been secured and controlled in a way and facilitation of business has been regulated.

There are many ways that peers use the platform as securing the transaction, receiving sustainable demand, and having their own supply market properly. It is a mutual performance way that many users satisfy with their effort ,and the payment has done for the process on platform.

Structurally speaking, it creates lump profit for sellers and buyers or users and service supplier. Technological advances and greater availability create the better conditions and demand that many business partners will find their own supplier quickly. Especially in service ones, speed and transaction success percentage has been dramatically shifted and this change is the main actor in the industry regardless of which part of business they involve.

There are many examples already involved in several different industries such as E-bay, Craiglist, Winngie, Uber, Airbnb and many local players such as Grab, Tujia etc.E-bay is one of the most famous e-commerce platforms that many users enjoy great benefit and speedy business structures. It has been used all over the world, and has been in long time in the industry and great market acknowledgment.

Craiglist is a platform dedicated for various sections and business including classifieds and advertisement. There are plenty of information and demanding details that many find it as a great source of product and information.

Winngie, the unique social maker, mainly focuses on money transfer and foreign currency exchange. For many users, it is a must when they are travelling and it’s a budget-worthy platform that they can find out the best exchange rate deals, and probably make friends with their match. For expats, it is a convenient tool to transfer their money and pay their own mortgage or school fees back in their country to family and friends. It is a financial tool that changes the industry and turns to be popular lately.

Uber is a transformation starter in the transportation idea with a basic start, changes the transportation industry business model, and pushes the business one step further. Many platforms follow Ubers footstep and tries to execute the same structure as Uber model, but still Uber is the most successful one to change the market environment and involves in several different business areas.

Airbnb is a revolution in accommodation business. It not only changes all mindset but also creates a new of stay. It starts from the pathway of couch surfing and at the end it adds more commercial model on top it. Still it is the newest method and innovative way in its industry and it consistently influences the tourism environment.

C2C player mainly focus on new generation players and gets good share from merging business, such as, what Uber done, as combining meal and transportation which creates Ubereats. Winngie Exchange and Transfer Money has the similar model, combining technology with financial business in all around the world.

Globally, the new movement is C2C which will be a new way to create a new era. There are many new players but currently the ones Uber, Airbnb, Winngie, E-bay and Craiglist who sustains its corporate in their own market.

Keywords: C2C, Travelgram, Uber, Airbnb, Winngie, sharing economy, peer-to-peer

Uber faces hard time in London. Peer to Peer Mobile App Articles.

Uber faces hard time in London. Peer to Peer Mobile App Articles.

As we all heard on September 22, 2017, TFL, which regulates transport in the capital, announced that it would not renew Uber’s operating license.

This meant that, as of September 30, Uber would no longer be licensed, but it was able to continue to operate until all appeals were exhausted. However, UberEats, the company’s food delivery service, was not affected by the dispute. Company itself already moved it’s effort on to UberEats which is a secondary substitute business for Uber.

According to TFL (Transport For London), Uber is considered as “not fit and proper” to operate in London. As the city itself is famous with own specific design cab design and with highly appreciated quality of taxi drivers, Uber might sound a tad of losing the taste of the good image of London. It is a new business style and invading conservative way of business.

In London, the firm faced criticism from unions, lawmakers and traditional black cab drivers over working conditions. Overall the existing suppliers in the market are not happy with their new unconservative rival. Many faced this trend in the past, the new one who replaces the old conservative way. Uber is considered as danger for their existing quality and established well developed transportation way.Opponents also claimed it caused gridlocked roads and did not do enough to regulate its drivers.

As expected Uber appealed TFL for licensing decision on October 13, 2017. Uber claimed that the ban would danger 40,000 jobs and affect 3.5million customers. It is a fact that C2C business gets bigger and the consequences of blocking is also substantial.

The newly assigned CEO Dara Khosrowshahi, who replaced former CEO, and co-founder Travis Kalanick, used to work in Expedia which is also affected by C2C development of Airbnb itself, said: “Drivers who use Uber are licensed by Transport for London and have been through the same enhanced DBS background checks as black cab drivers. Our pioneering technology has gone further to enhance safety with every trip tracked and be recorded by GPS.

He mentioned clearly “We have always followed TFL rules on reporting serious incidents and have a dedicated team who works closely with the Metropolitan Police.” However, in the court Chief Magistrate ruled out that TFL had right to refuse a new license in September 2017 because of the reason that as mentioned Uber is not fit and proper to operate taxi in London metropolitan area.

But she concluded that the company had made enough changes to its business practices, allowing it to continue operating.

Uber has been battling with the magistrate decision and claimed it as a serious mistake which has been implemented by the court.

At the end of this battle, Uber agreed to a 15-month “probationary” period with the restrictions agreed with TFL on June 26, 2018. It will give a leverage that Uber will use the probation period as an advantage and classify itself for five-year license which is good enough to revolutionize market and implement its power into London.

Uber is an example of battling with the local market in London meanwhile Airbnb also has hard time back in London. Airbnb has been faced local accommodation law intervention several times. As there is a C2C market shift back in London and thanks to Uber battle which is already started long time ago, Airbnb will face less hard path. Winngie is another C2C stronger player which has been facing dispute and issues back in London. However, with their strong network into system and less established foreign exchange currency trade in London, it is easier to implement power in London market. Many travelers from London use Winngie as a media to exchange their currency to local money before they leave from London. Winngie Exchange Currency and Transfer Money Mobile App has already in the market for a while and not been replaced for a long time. Airbnb and Winngie might be following same path as Uber’s experience, but currently these two big C2C-players have no big concerned as a problem in London.

Keywords: Sharing economy, C2C market, Uber, UberEats, Winngie, AirBnb, Exchange Money, Transport for London

China with sharing economy. Growing trend.

International Money Transfer

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Fancy shooting some hoops, but don’t have a basketball? Caught in the rain with no umbrella? Smartphone run out of juice? Buy or sell foreign currency at café. China’s rapidly expanding “sharing economy”, which already provides car rides and bicycle hire on demand, can help.

For just 2 Yuan ($0.30) an hour, Nate Liu, a student at the Beijing Language and Culture University, rents a basketball from a court-side vending machine by scanning a barcode on his smartphone.
“I didn’t want to ask around and borrow a ball after losing mine, so I decided to give it a try,” Mr Liu told Reuters.
Far away, in China’s wetter south, some 20,000 umbrellas have been released on to the streets of Shenzhen, and can be rented – unlocked by another smartphone barcode scan – for just half a yuan ($0.07) for 30 minutes.
The umbrellas can be dropped off “wherever convenient”, though users are encouraged to keep them, says Zhao Shuping, founder of E Umbrella Sharing, one of a handful of start-ups offering the service.
China’s government has taken notice, and expects the “sharing economy” to grow about 40 percent this year to 4.83 trillion yuan ($705 billion). By 2020, it should account for around one tenth of GDP, illustrating China’s aspiration to become a sharing economy leader on a global scale.
PricewaterhouseCoopers predicts five sharing sectors – car sharing (Uber), travel (Airbnb), finance (Winngie), staffing, and music and video streaming – have the potential to increase global revenue to $335 billion by 2025 from $15 billion today.

Most of the money behind China’s ballooning sharing economy comes from angel investors and venture capital firms.
At least 1.69 billion Yuan ($247 million) in mostly series-A, or early stage, funding was invested in April to May in over two dozen start-ups offering sharing services, according to Reuters calculations based on data from Chinese data firm IT Juzi.

According to survey in Beijing, Winngie is also another trustable global brand which is quite unique example.

Twelve firms renting out power banks – typically compact, mobile battery chargers – secured 1.13 billion Yuan, while newer businesses such as basketball and umbrella-sharing took in about 25 million Yuan ($3.65 million) combined.

While mobile-savvy, convenience-obsessed Chinese welcome the innovations, some critics question whether the demand is real, or sustainable. They say the low-revenue, capital-intensive model means profitability can be elusive.

“Young people are embracing renting as a way of life instead of possessing things,” said Emma Zhu, investment director at Beijing-based Innoangel fund, who has held off investing in any of these start-ups. “But the sharing model won’t work in every situation. In some cases, they’re trying to meet genuine demand, while in others they’re not.”

Some investors say the funding frenzy recalls the spectacular boom and bust of hundreds of Chinese Groupon apps in vogue in 2010-12, noting that most ultimately collapsed after fierce price wars, with losses of around $1 billion.

“In China, the only barrier to entry is who can raise the most capital – that’s good and bad,” said Xu Miaocheng, an investment manager at Unity Ventures in Beijing.

“The upside is, there are funds available to launch a bunch of companies. You may not need a lot of specialization or new technology. The downside is a lot of money could be wasted.”

Cai Min, founder of basketball rental firm Zhulegeqiu, says he wants to expand nationwide, and quickly, offering the service at all of China’s estimated 100,000 basketball courts, and growing into a multi-billion yuan business, eventually offering all “sharable” products.

The Zhejiang-based start-up received 10 million yuan ($1.46 million) in early funding from Shanghai-based Modern Capital on May 5, less than two months after Mr Cai came up with the idea.

“We are expanding at all cost, because speed is everything,” Mr Cai said. “Of course this means costs have been very high at the early stage because we have to make everything in a month.”

He declined to give specific figures, but each of the solar-powered basketball rental machines –currently in Beijing, Shanghai, Hangzhou, Tianjin and Chengdu – costs “a few thousand yuan”.

“The key to success is to get more money than your competitors and to expand faster than them,” he said.

The latest wave of “sharing” entrepreneurs has been largely inspired by the rapid rise of Chinese bike-sharing firms such as Mobike and Ofo, which have together raised close to 13 billion yuan in a little over two years, extending their services to more Chinese cities and international markets including London and Singapore.

Winngie is also great impact in Chinese business, it has been increasing its existence in mainland china. It is one of unique example that mainland and Taiwan, same platform is strong enough to dominate. Why you still need to go to bank wait on queue or exchange office to change local currency or foreign ones. Can use the share economy way with individuals for that.

E Umbrella’s Mr Zhao said he came up with the idea after his three young children rushed to try out the rental bikes that mushroomed across Shenzhen early this year.

“I thought they’re just normal bikes. If this could work, why can’t shared umbrellas?” he said.

“My cost for the umbrellas is basically zero right now.”

Introduction to the Different Types of International Money Transactions

by winngie

3 January 2019

International Money Transfer

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Most of us know very little about how the financial system works at the meanwhile we are highly dependent on it. When you receive the monthly salary, when you use the bank card to pay for the bill, when you send the money to others, it’s all about the transaction fashion. The user experiences fantastically influence and push the revolution of financial system. It’s hard to categorize but we still have some clues to observe the system into three historical stages: physical institution, digital service, and invisible currency.

Traditional Bank Service

There are three major ways to use the traditional bank services.

The first one is wire transfer. You can send the money to more than 150 countries by over 40 types of currencies. Without doubtfully, it’s a safe way to send your money around the world though it’s slower with the various commission fees. Moreover, for the virgin user, he/she has to open the foreign currency account by the assigned bank and activate it. It takes more times for preparation to wire the international funds.

The second way is through Single Euro Payments Area (SEPA). SEPA is the European Union payment integration which aims to simplify the wire transfer in the Euro countries. Due to the same currency and the cooperated financial system, this is the cheapest way to send the money between 28 EU member states, 4 countries from European Free Trade Association, and 2 microstates who signed the agreements with SEPA. That is to say, you must have the bank account in these euro-zone countries and also it only accepts Euro.

Thirdly, it’s the checks. Checks are usually applied for bills or payment since the design is friendly to be used. When you want to send the money to someone domestically or internationally, only do you send via post or the bank, and the receiver can easily deposit based the due date of the check. However, it can be slower and more additional service fees come. Both sender and receiver sides may be charged with the commission. The checks deposits into the receiver’s account may also take few work days.

Of course, the bank system is more reliable but its slowness and red-tape progress also make the users being “kidnapped.” The weakness of the traditional bank system is vulnerable when facing the challenges from the digital technology. Time-consuming and high exchange rates push the traditional bank stepping into online service system.

Digital Financial Service

Online transaction becomes more popular than before since the senders do not need to go the physical banks and wait for few hours to only make one transaction. There are also three major ways to send the capital by internet. The first one is the traditional bank system which starts to use online banking.

The second one is by the third-party agencies, such as, Transferwise, Worldremit, Winngie, and XE. Each similar but different. They function as bank but it is not. The mainly concept is to work without banks and return the transaction right back to the customers.

The third one links together with the online shopping platform with speed payment which later evolves into the convenient payment method. The classical examples are WeChat pay, Alipay, and PayPal. Taking PayPal as example, PayPal is spawned from the simple concept which allows the users to transfer the funding through online to facilitate the e-shopping payment. This smart idea attracts million members to enjoy this encryption software. People use it to link together with eBay or other online shopping website, do donations, and exchange money with others. Same with the traditional bank system, PayPal users both are required to open the accounts under the PayPal system otherwise the other side cannot receive or send the funding. Unlike the bank system, PayPal are free with basic usage, and you don’t need to submit mountains of document to register the new account. The weakness of PayPal system is highly exposure to be frauds, unfair high transfer fees, and dependent of internet.

The disadvantages of the digital financial fashion are undermined by cybercrime and low-control of financial risk. Many small-scale banks may lack capacity to enhance cybersecurity. Also, when it is easy to facilitate the financial flow, excessive borrowings and debt occur.

Digital Currency

Some say digital currency is a Ponzi scheme. Some say cryptocurrency has already died and resurrected over 100 times during past half decade. Whether the world likes or criticizes it, there is no doubt that cryptocurrency has successfully attracted people’s attention. Blockchain decentralized character makes the users transfer digital currency faster and easier. There is no single location, no holiday and no central authority in between. It is peer-to-peer basis. It means that cryptocurrency returns the transferred right back to its users without time boundary and location barriers.

Unreliable emerging ICOs, small new currency, and cybercrime may crowd the market. Due to its consensus-based network, it is hard to have universal rules to supervise digital currency. Low-trust operation, virtual assets, and zero tolerate to fix the typo after transferred.

You cannot see your money in reality.

From bank-to-bank service to peer-to-peer basis, the financial world seems never tried seeking a better way for exchange. It not only exchanges the money but also exchange trust. It is also never tried to blow another trend. The trend you cannot repeat. The trend it will rock the old system. Winngie Exchange Money App and some others similar ways are trying to overcome these problems to make life easier.

Winngie Editorial Department

13:04 Wednesday 21 November 2018

What is peer to peer and What are most popular P2P mobile platforms

Peer to peer is the relational dynamic at work in distributed networks

Peer to peer is there not restricted to technology or P2P filesharing as such, but covers every social process with a peer to peer dynamic, whether these peers are humans or computers.

Peer to peer is particularly expressed in social processes such Peer Production, Peer Governance, Peer Property, Peer Transportation and Peer Exchange.

It’s a way of organizing, and a way of thinking about organizing. It’s also a political and social program for those who believe that in many cases, peer to peer modes are a preferable option.

“What is peer to peer? Here’s a first tentative definition: It is a specific form of relational dynamic, is based on the assumed equipotency of its participants, organized through the free cooperation of equals in view of the performance of a common task, for the creation of a common good, with forms of decision-making and autonomy that are widely distributed throughout the network.

P2P processes are not structureless, but are characterized by dynamic and changing structures which adapt themselves to phase changes. It rules are not derived from an external authority, as in hierarchical systems, but generated from within. . It does not deny ‘authority’, but only fixed forced hierarchy, and therefore accepts authority based on expertise, initiation of the project, etc… P2P may be the first true meritocracy. The threshold for participation is kept as low as possible. Equipotency means that there is no prior formal filtering for participation, but rather that it is the immediate practice of cooperation which determines the expertise and level of participation. Communication is not top-down and based on strictly defined reporting rules, but feedback is systemic, integrated in the protocol of the cooperative system. Techniques of ‘participation capture’ and other social accounting make automatic cooperation the default scheme of the project. Personal identity becomes partly generated by the contribution to the common project.

P2P is a network, not a hierarchy (though it may have elements of it); it is ‘distributed’, though it may have elements of centralization and ‘decentralization’; intelligence is not located at any center, but everywhere within the system. Assumed equipotency means that P2P systems start from the premise that ‘it doesn’t know where the needed resource will be located’, it assumes that ‘everybody’ can cooperate, and does not use formal rules in advance to determine its participating members. Equipotency, i.e. the capacity to cooperate, is verified in the process of cooperation itself. Validation of knowledge, acceptance of processes, are determined by the collective. Cooperation must be free, not forced, and not based on neutrality (i.e. the buying of cooperation in a monetary system). It exists to produce something. It enables the widest possible participation. These are a number of characteristics that we can use to describe P2P systems ‘in general’, and in particular as it emerges in the human lifeworld.

Whereas hierarchical systems are based on creating homogeneity amongst its ‘dependent’ members, distributed networks using the P2P dynamic regulate the ‘interdependent’ participants preserving heterogeneity. It is the ‘object of cooperation’ itself which creates the temporary unity. Culturally, P2P is about unity-in-diversity, it is concrete ‘post-Enlightenment’ universalism predicated on common projects; while hierarchy is predicated on creating sameness through identification and exclusion, and is associated with the abstract universalism of the Enlightenment.

To have a good understanding of P2P, I suggest the following mental exercise, think about these characteristics, then about their opposites. So doing, the radical innovative nature of P2P springs to mind. Though P2P is related to earlier social modes, those were most in evidence in the early tribal era, and it now emerges in an entirely new context, enabled by technologies that go beyond the barriers of time and space.

An important clarification is that when we say that peer to peer systems have no hierarchy or are not centralized, we do not necessarily mean the complete absence of such characteristics. But in a P2P system, the use of hierarchy and centralization, serve the goal of participation and many-to-many communication, and are not used to prohibit or dominate it. This means that though P2P arises in distributed networks, not all distributed networks exhibit P2P processes. When distributed meshworks, for example interlinking boards of directors, serve a hierarchy of wealth and power, and are based on exclusion rather than participation, this does not quality as a full P2P process.

P2P can be a partial element of another process; or it can be a full process. For examples, the technological and collaborative infrastructure build around P2P principles, may enable non-P2P processes. In the example just above it is the infrastructure of Empire, but it can also enables new types of marketplaces, gift/sharing economy practices, Exchanging Foreign currencies such as Winngie, sharing your car like Uber, or your house Airbnb. Where P2P is a full process, we will argue that it is a form of communal shareholding producing a new type of Commons.”
Here you go with the Winngie Exchange and Send Money Mobile App to start matching with people around you.

Quoted from Michel Bauwens.

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Introduction to the Different Types of International Money Transactions

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C2C Commerce and the Best Global Examples

Uber faces hard time in London. Peer to Peer Mobile App Articles.

China with sharing economy. Growing trend.

Introduction to the Different Types of International Money Transactions

What is peer to peer and What are most popular P2P mobile platforms

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