Right now you probably have unused assets for which others would pay. But there’s no market efficient enough to earn that income. Perhaps you have a car you’re not using this afternoon? Suppose you could instantly see what it might earn if let out in a local vehicle hire market. Imagine you could put it in the market with a couple of clicks, with total safety, and effortlessly see an uptick in your bank balance a few hours later. Might you do so?
Currently, there’s all sorts of reasons you wouldn't do this. Fears about trustworthiness of hirers, validation of driving licences, insurance issues, the hassle of transferring keys and signing over authority, need for delivery to a hirer plus payment collection would probably be top of the list. NEMs could instantly solve all these problems using a combination of:
No marketplace will ever be 100% watertight. But NEMs would be the safest, lowest overhead, fastest, most convenient way imaginable to turn the time of any person or asset into cash.
Cars are one example of a NEMs sub-sector. Other vehicles that could be hired for a few hours, or more, downtime include: fork lifts, vans, trucks, mini-buses, agricultural machines, construction equipment and coaches.
Vehicles are just one sector. Anyone with a Nintendo or Playstation they don’t need this weekend could put it safely, instantly into the hire market. A neighbour could handle all the work of handover to buyers in return for a cut of the earnings. Your company has a meeting room that’s not required tomorrow morning? Let it out, but only to buyers with a track record of complaint-free hires of office space.
From a small start in one or two sectors, NEMs could expand organically across thousands of areas like this. Each new sector brings new, low level, resources into the economy. (NEMs' technology)