According to an Allied Market Research, the global self-service technology market will cross $31 billion by 2020, representing an annual growth rate of almost 14%. This number is indicative of the importance of service industry today. More than 4.8 billion dollars have been invested in the on-demand industry and well, and researchers say it’s not unrealistic to think this is here to stay. According to Investopedia, the Bank of America Merrill Lynch expects the sharing economy to reach between $250 billion to $2 trillion value. People now, more than ever, have started believing in the idea of synergy. Whether it is on-demand food or clothes, the world has started to depend on the sharing economy a bit too much. However, some new ventures and start-ups have found themselves let down by a constant stream of unfortunate stories.
The spine-chilling incidents of rape and murder have questions for the trust ordinary people can instil in these companies. These incidents also expose the trust-deficit in these business models, where these companies cannot fully control a customer’s experience. Ensuring hiring needs of the sharing economy and validating hires for genuine identity in real-time is challenging. TrustOnDemand™ can help here!
