Study of the Effect of Smart Contracts Implementation Compared to Conservative Technologies in the Sharing Economy

In the context of digitalization, the sharing economy is experiencing significant growth, as evidenced by the successes of companies such as Uber, Airbnb, and eBay. However, despite substantial development and success, the services of these companies continue to use centralized technologies, which reduces overall efficiency and convenience, and also creates a number of risks. This study is dedicated to analyzing the potential impact of smart contract technology on the sharing economy. The research encompasses both qualitative and quantitative aspects of the application of smart contracts, which enabled the development of a model for their impact on the efficiency of business models of sharing economy companies. The core issue of this research lies in the problem of balancing the costs of implementing and using smart contracts with the potential additional revenue that this technology can bring to the business models of sharing economy companies, especially in the context of car-sharing companies. The aim of this study is to develop a model that evaluates the impact of implementing smart contract technology on the business models of car-sharing companies and to assess the economic feasibility of using smart contracts. We conducted an analysis of the history and key concepts of the sharing economy, blockchain technology, and smart contracts, with a focus on their application in car-sharing companies. A qualitative study of the generalized business model of sharing economy companies was conducted, and its attributes were selected for the most effective implementation of smart contract technology, using well-known examples of application and the effects of this technology. Additionally, methods for applying smart contracts to enhance the efficiency of each specific attribute were proposed and qualitatively analyzed. After the qualitative analysis of the effects of using smart contracts, the focus was shifted to the quantitative aspect. BPMN notations of the car rental process in car-sharing were developed both before and after the implementation of smart contract technology. The components of income and expenses of the car-sharing business model were also analyzed, forming the basis of the developed quantitative model. As a result, two models were proposed, showing the profit structure without and with the use of smart contracts. Moreover, using the example of the SC2Share platform and the company Delimobil, the cost of using smart contracts at each stage of the car-sharing CJM was assessed step by step.