ICO Previews are early stage looks at promising upcoming ICOs which do not have a finished whitepaper yet.
Pin Protocol aims to solve one of the biggest problems of the modern sharing economy – reputation.
Anyone who has used AirBnB or eBay understands the importance of reputation. When we have to trust a stranger to fulfill their end of the bargain, a good reputation can give us the confidence to go through with a transaction.
Pin Protocol understands this themselves as well. Built by a bike sharing company, Pin’s first implementation will be in their parent company Spin.
Spin does station-less bike sharing. With 30,000 bikes deployed in 18 cities across the US, they are an established startup with a real business. With the Pin protocol, they aim to incentivize users of their bikes to treat them better. Leaving bikes in good condition and parked in good locations, for instance not in front of a driveway, rewards users with Pin Tokens.
Pin Protocol will first be rolled out in Spin, but is aiming to also solve the reputation problem for renting of other physical assets, such as scooters, housing, or battery packs. By incentivizing good behavior, they aim to improve the sharing economy.
While there is currently no whitepaper, Pin’s strong core premise and team, hailing from Lyft, Fitbit, and YCombinator make it an ICO to keep an eye on.
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