WEBILITY

WEB 3.0 Sharing Economy Service

Project Overview

Webility is a WEB3.0 sharing economy service based on blockchain, and provides various services such as AI, NFT, and NFT authentication services by applying blockchain technology to the existing WEB 2.0 sharing economy service.

Webility has incorporated blockchain technology into shared economy services to break away from the existing sharing economy platform structure in which large platform operators provide services and take most of the profits from commissions and service fees. Webility provides high trust between service and transaction participants with only a decentralized public ledger on the online network, activating transactions between individuals that the sharing economy ultimately pursues.

Service users can transparently check all information and transaction conditions related to the use of Webility services through a smart contract with blockchain technology, and can use the ecosystem token 'WEBI' without intermediary services such as banks or simple payments. Compensation and payment are made using the 'WEBI' token.

The ultimate goal of Webility is to become a decentralized WEB 3.0 service where demand and supply of individuals naturally meet within the Webility service without a central management institution, and the value generated from the Webility service is fully returned to service participants.

Service Overview

The Webility project provides three services in total: WE-AI, a blockchain convergence distributed AI service, WE-AI's data analysis AI curation, WEBIL NFT market, and NFT certification.

WE-AI performs distributed AI processing by sharing and utilizing idle resources of personal PCs, and analyzes various data through the WE-AI distributed processing program to suggest optimal utilization plans.

WE-AI analyzes and utilizes micro-mobility big data of XingXing, a representative partner of Webility, applies it to an AI model, develops real-time big data of floating population for commercial district analysis, and establishes target marketing through this. When issuing shared scooter, space sharing, and ad space sharing NFTs of WEBIL NFT, it is possible to issue and recommend NFT products that accurately predict user demand by using the WE-AI's big data analysis AI model.

Webility verifies the effectiveness of various issued NFTs and provides NFT certification services so that users can use the NFTs without problems. After thoroughly checking each certification item for each NFT to ensure that there are no functional problems or legal issues with the product provided by the NFT, a certificate NFT is issued at the same time.

Sharing Economy

The sharing economy refers to an economy based on collaborative consumption in which a product once produced is shared and used by several people by changing the concept of 'sharing' from the existing 'ownership'.

The biggest feature of the sharing economy is that resources are used rather than owned. Create value by utilizing services, information, and goods that individuals already possess without additionally producing necessary resources. It is an online-based open business model in which a large number of individuals lend and share goods, space, experience and talent to others through collaboration.

However, due to the structure of 'sharing' resources, when a criminal act or legal problem that threatens the safety of users occurs, it is unclear who is responsible for the problem, making it difficult for the victim to claim compensation. There are disadvantages such as a phenomenon in which most of the values generated within the sharing economy service are absorbed by platform companies rather than platform participants due to platform monopoly by operators.

Applying Blockchain Technology

Key features of blockchain for securing trust among participants in sharing economy service

Key features	details
Public accessibility	All information stored via the blockchain is publicly accessible to all users of the network and provides transparency of information.
Unchangeable	Information added to the blockchain cannot be arbitrarily changed or removed, so users must faithfully fulfill the terms and conditions agreed via smart contracts.
Restoring force	Every user on the network maintains all copies of the blockchain's distributed books, so at any point in time errors do not compromise the availability of the entire stored information.

In order to compensate for these disadvantages, the Webility Project launched WEB3.0 sharing economy service with blockchain technology to guarantee the identity of each participant, transparently disclose transaction details, and reward service participants rather than central institutions. We want to realize a sharing economy in the true sense of being given.

The key features of blockchain technologies that will be applied to Webility WEB3.0 sharing economy services are as follows.

• Distributed sharing platform technology

Webility utilizes blockchain-based distributed sharing platform design technology to launch WEB3.0 decentralized service rather than the existing centralized C/S-based sharing platform.

• Blockchain transaction verification and consensus technology

Webility utilizes blockchain-based transaction verification and consensus technology to provide secure services with guaranteed reliability between nodes.

• Identity authentication service technology

Webility breaks away from the existing centralized authentication method through blockchain-based identity authentication service technology to prove identity in a decentralized way and builds WEB3.0 decentralized service.

• Transaction History Tracking Technology

Blockchain-based transaction history tracking technology guarantees the stability of transaction information of the Webility service and resolves the asymmetry of transaction information.

• Fraud prevention technology

Webility launches a service that protects the contents of transactions between users through smart contract technology and at the same time implements fair trade.