The sharing economy is a business model in which a platform enables individuals to share access to underused goods, services or assets, such as vehicles, homes or tools, rather than each person owning them outright, usually in exchange for a fee that the platform takes a share of. It relies on digital technology to connect owners of spare capacity with people who want temporary access, lowering the coordination costs that previously made such sharing impractical at scale. Prominent examples span transportation (ridesharing, car-sharing and bike-sharing services), accommodation (home-sharing platforms such as Airbnb and CouchSurfing) and finance (peer-to-peer lending platforms), and the model has grown into an industry handling hundreds of billions of dollars in transactions globally.
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