October 26, 2018

Sharing Economy(I)

The sharing economy generally refers to a new economic model in which a certain amount of remuneration is the main purpose, based on strangers and the temporary use of the right to use goods. Its essence is to integrate idle goods, labor, education and medical resources. Some also said that the sharing economy is that people enjoy social resources fairly, and each pays and benefits in different ways to jointly obtain economic dividends. This kind of sharing is more realized through that Internet as a medium.

The term shared economy was first published in 1978 by Marcus Felson, a sociology professor at Texas State University, and Joel.Spaeth, a sociology professor at the University of Illinois. (Community Structure and Collaborative Consumption: ARoutine Activity Approach). Its main feature is an information and technology based market platform what is created by a third party. This third party can be a business, organization or government. Individuals use these platforms to exchange idle items, share their knowledge and experience, or raise money for companies. The economy involves three main players, namely, the demand side, supply side and shared economic platform of goods or services. The sharing economic platform serves as a link between the supply and demand sides. Through the establishment of a series of mechanisms such as mobile LBS application, dynamic algorithm and pricing, and mutual evaluation system, the supply and demand sides conduct transactions through the shared economic platform.

Background

The concept of sharing has long existed. In traditional society, borrowing books or sharing a piece of information between friends, including borrowing things between neighbors, is all a form of sharing.

However, this kind of enjoyment is based on two major elements of space and relationship. On the one hand, the sharing of information or objects is subject to space constraints and can only be limited to the space that individuals can reach. On the other hand, if sharing can be achieved, it requires both parties who have the trusting relationship.

The 2016 World Sharing Economy Summit is one of the main forums of the World Free Trade Conference and Expo to be held in Macau on November 8-10, 2016. The theme of this summit is: trillions of dollars in sharing economy investment opportunities. It is a high-level forum for sharing economic investment in the world. It is a platform for international economic investment, operation, cooperation and talent exchange and cooperation.

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