BorrowBox: The Local Tool and Gear Library
Keywords:
Escrow transaction, Gig economy, Online marketplace, Peer-to-Peer rental, Sustainable development goal, Tool rental, Tri-Sided platform, Usability testAbstract
Urban India has a large number of underutilized private tools, leading to inefficient resource usage, as many tools are purchased for one-time use and then remain idle. This paper presents BorrowBox, a peer-to-peer tool rental platform that connects tool owners, renters, and delivery partners. The platform includes OTP-based identity verification, escrow payment processing, dynamic delivery pricing, and a bilateral rating system to ensure trust and security. BorrowBox follows a dual commission model, charging 10% from both owners and renters, supported by a mathematical framework for rental costs, delivery charges, and owner earnings. A pilot study involving 35 participants from four groups—students, household owners, small contractors, and domain experts—was conducted. Results showed an average usability score of 4.3/5, exceeding the benchmark of 4.0 across all usability dimensions. Cost analysis suggests savings of up to 90% compared to purchasing tools for one-time use. The platform supports SDGs 8, 10, 11, and 12.
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