Online platforms, Big Data, and algorithms are the three main contributors to the increasing popularity of today’s sharing economy. AirBnb, Uber, RelayRides and DogVacay are just some of the pioneers dominating the industry. While smaller companies operating in the local markets are left behind in the absence of a universal platform for all.
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The sharing economy adheres to the principle that access trumps ownership. However, there seems to be a lack of consistency, especially as far as security and transparency are concerned. To find what they’re looking for, consumers need multiple accounts on different platforms sharing different assets and services.
To solve this issue and provide access to all kinds of sharing opportunities from a single place, Blockchain-based project ShareRing enters the scene with a product that aims to become a one-stop-shop for the sharing economy.
At the core of ShareRing lies the KeazACCESS concept
The ShareRing project belongs to the makers of global leader in car sharing solutions, Keaz. With offices in Hong Kong, New Zealand, Australia, Vietnam and the US, the technology powering the new Blockchain-based sharing platform is the KeazACCESS concept. Initially released in 2015, over thousands of people now have daily access to sharing vehicle assets on a global scale, thus proving the business model is viable and working.
The cloud-based ecosystem enables communities, enterprises, and organizations to access and share different assets and mobility services from all corners of the world. Three high-growth global markets are targeted by KeazACCESS, namely Vehicle & Passenger Mobility, the IoT, and the Sharing Economy. In spite of its growth and proven concept, the future of Keaz is ShareRing.
Custom-designed ShareLedger Blockchain
At its core, ShareRing will use the custom-designed ShareLedger Blockchain to enable universal access to all assets linked to the platform’s smart system. Currently under development, its purpose will be to take advantage of one of the most recent breakthroughs in Blockchain technology – the dual coin mechanism.
The main purpose of ShareRing’s utility token, SharePay (SHRP), will be for consumers to access sharing services, whereas ShareToken (SHR) will be reserved for providers who will pay to access the ShareLedger perks, such as smart contracts and assets.
The ShareLedger wallet is yet another benefits associated with the ShareRing platform. It contains standard wallet functions like SharePay balances, view ShareTokens, facilitate transfers, and view transaction history. What sets the project apart is the seamless exchange system. Since ShareRing will use its own utility token, users will no longer have to deal with fees associated with exchange rates that are common on Lyft, AirBnB or Uber.
In terms of plans for the future, ShareRing is preparing a standalone app with geolocation integration to allow both consumers and providers to find, access and market sharing services and assets in their area. By adopting the smart contract system, ShareRing ensures transactions are trustless and all access on the platform is user-friendly, highly-secure and convenient for all parties involved.
With a hard cap estimated at $48 mln, ShareRing has issued 4 bln tokens. 50% of all funds will be distributed among the developers, providers, and team members to ensure the project’s continuity and further development. Following a first round of funding from investors and friends in March, ShareRing announced they already have $3 mln raised to help them continue the project’s development. The Pre-sale is currently live until the end of April, after which the public token sale will begin.
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