ShareRing and Tencent Cloud announced a major tech partnership on November 17. According to the official blog, both organizations will work together to develop an industry-first application. This will help the tourism industry recover from the 2020 economic blow caused by the ongoing COVID-19 pandemic.
The tech venture plans to combine ShareRing’s distributed ledger technology (DLT) and Tencent Cloud’s optical character recognition (OCR). Using the two, a new digital document and identity management solution will be launched. Effectively, this will help improve the efficiency and accuracy of the travel data entry system. Additionally, facial recognition will help enhance travel identity verification and data management.
The existing ShareRing self-sovereign identity app will be leveraging Tencent’s cloud technology and AI. With the Tencent Cloud advantage, the app will come across as an advanced data management and identity security platform. Also, it will prove to be the cheapest and most integrable app. Thus, it will significantly lower the barrier to entry for businesses of all sizes.
📣 ShareRing and Tencent Cloud Debut World-Class Innovative Travel App and ShareRing ID, Leveraging Cloud and AI Technologies! 📱✈️🌎
— ShareRing (@ShareRingGlobal) November 17, 2020
ShareRing’s self-sovereign identity app is a multi-purpose app. A traveler can use it to make hotel reservations, rent cars, schedule flights, book tour packages, and buy insurance policies. Once it starts leveraging Tencent Cloud’s cutting-edge OCR, it will deliver exceptional efficiency and accuracy of data entry.
According to Tencent and ShareRing, such an advanced application will help governments reopen their borders safely. Effectively, the app might help the travel industry recover from the current year’s economic blow.
Anonymous Contact-Tracing Passport
ShareRing and Tencent shared that they are also working on building an anonymous contact-tracing passport. Furthermore, this passport can be integrated with e-visas on arrival systems. In addition to that, it can be used as a valid identity document with retail shops, travel insurance companies, airlines, and hotels.
According to ShareRing, many government bodies have already shown interest in the integration of anonymous contact-tracing passport in e-visa setups.
Mr. Chang Foo, chief operating officer of Tencent Thailand Company Limited, shared, “This collaboration marks another accomplishment of Tencent Cloud by reflecting our dedication to bringing together the advancement of world-class cloud services and expertise in providing large platforms to support our partners like ShareRing. We assist them in creating new innovations to strengthen the business and drive the growth of the tourism industry amid the new normal digital age.”
In spite of this massive partnership announcement, the SHR price is down by over 13.6% in the last 24 hours. At the time of press, the token is trading close to $0.025.