Sharing Economy

The Sharing Economy is a concept that emerged through business models which connect supply with demand in an extremely flexible and linear way.

Collaboration is a vital asset in the development of any community. The sharing economy is a business model that is widely different from the traditional one. In this economic model, assets are shared directly by people through collaboration on the internet.

Problems in the Sharing Economy

The Sharing Economy, which has been growing exponentially for years now with companies like Airbnb or Uber coming out to connect people who have something they need with others who want it too. However, the rise of the sharing economy has been accompanied by concerns that are both unforeseen and alarming. A few concerns have risen with the rise of the sharing economy platforms, though, including the potential for fraudulent merchandise (stolen or counterfeited), fraudulent ownership of accommodations, violence, and robbery.

One of the most popular ride-sharing platform, Uber, currently has 93 million active customers and 3.5 million drivers who serve its growing user base. Uber, having faced triumphs and setbacks, is a trailblazer in the sharing economy.

Identity verification is extremely important for users and drivers with ride-share applications. The process of onboarding new drivers includes an identity verification step to ensure that the driver is who they say they are and to confirm their criminal record (if any).

Ride Sharing services like Grab and many others with similar business model also have a lot to benefit from ID Verification services.

How ID Verification from Xpress AI Helps

The foundation of P2P platforms is built on trust. Without it, everything falls apart and can never be put back together again to make a sustainable system for both parties involved.

If you’re searching for an advanced identity verification solution for your sharing economy platform, you can rely on Xpress AI ID Verification. Since our identity verification solution is powered by Artificial Intelligence, it can automatically check facial biometrics. To know more about our services, you may schedule a demo.

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