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CEO and co-founder of the Omni rental service company, Thomas McLeod, recently explained how he is working with Ripple and using XRP to expand the sharing economy and bring liquidity to its customers.
Omni allows neighbors to find and rent items from one another, from bicycles to air mattresses, looking for keywords or specific categories (eg home, travel, night play, seasonal vacations).
The service, which delivers items locally, also allows users to earn money every time their items are rented. Users can cash out their earnings on an XRP portfolio, making it the first platform that allows people to acquire XRPs outside of an exchange.
Says McLeod,
"By enabling XRP outlays we aim to lower the barrier to entry for crypto-curious consumers and also to reduce the risk because you still own the good."
Omni Marketplace
In a new interview with Ripple, McLeod states that Omni's mission is to "connect the world through things" while working to build an entire rental market.
"So there's a world where all you have to be able to connect with other people and other people should be able to use those things too, so if you have a bike and you do not use it, someone else can use it when you do not use it, and now you can also earn more money. "
By comparing Omni with a bank, as it holds real assets such as "bicycles and camping books and equipment", McLeod explains how XRP can play a role in Omni's ecosystem.
McLeod says,
"It has become very clear that this could be an excellent tool both to provide a great deal of quick liquidity for a kind of cash out of the capital that is made through the rental side, and in the future by quickly connecting people with such assets".
Already in May, Ripple revealed that Omni is one of the first investments that the company has made with its new Xpring initiative.
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Disclaimer: the opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and operations are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital assets, nor The Daily Hodl is an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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