ShareRing Network

The sharing industry is one of the fastest-growing and innovative ecosystems in the world today. Since 2010, the industry has amassed over $23 billion in investors funds with innovations coming on board almost every day.

ShareRing Network (SHR) is a decentralized technology ecosystem with sight set on creating a unique sharing ecosystem.

In this overview we will cover:
  • About ShareRing Network
  • Products
  • Project Tokenomics
  • SHR Pricing
  • Major Partnerships
  • Exchange Listings
About ShareRing Network

Built on blockchain technology, ShareRing brings to life a system that ensures transactions are cheap, secure, fast, and tamper-proof. Data on ShareRing are operated by public nodes, therefore, ensuring data provided is both accurate and reliable. On ShareRing users can make payments using fiat currencies as well as a wide range of cryptocurrencies including BTC, BNB, ETH, VET, NANO, MATIC, etc.

Launched in 2017, ShareRing was designed to serve as a sharing and rental ecosystem. Its blockchain built using Tendermint provides end-to-end solutions that can be employed for payments, identity management, Internet of Things (IoT), marketplace listings, etc. According to CEO Tim Boss, the travel space is a major industry the sharing network is looking to break into.

Altcoin Buzz had previously published an overview of the project in April 2020.

ShareRing Products

ShareRing is working on several products, most notably:

  1. ShareLedger
    One of ShareRing’s important products is its smart blockchain ShareLedger. Built-in a way to enable easy integration with a wide range of API, ShareLedger can be employed as a backend infrastructure to power companies and businesses. Incredibly versatile it helps securely store documents including e-visa, receipt, and passport amongst several others.ShareLedger can also be used to validate payments as well as eliminate foreign exchange charges. Both ShareRing shop and the travel app will be run on the ShareLedger blockchain.
  2. ShareRingID
    For now, a lot of focus is on the network’s ShareRingID project. The project is a self-governed identity account that can be linked to all other services within the sharing network. With the ShareRing app, users will be able to sign up for their ShareRingID. For now, the IDs can only be used for hotel bookings. However, plans are in place to link other aspects of the network like the car rentals, etc. to the ShareRingID database.     Apart from the ShareRingID project, the sharing network also runs a document managing service. The service stores and guarantees documents like electronic visas, VAT refunds, insurance policies, claims, etc. remain tamper-proof.
  3. Insurance
    Insurance is one industry that has over the years managed to remain fairly the same. However, insurance giants are looking to employ blockchain technology to tackle fraud and ensure records remain trustless and immutable. Blockchain will help with fraud detection, risk prevention, property and casualty insurance, health insurance, Reinsurance, etc. Seeing the huge potential in ShareRing for the insurance space, Dhipaya Insurance has partnered with the sharing network.
  4. ShareRing Shop
    ShareRing Shop benefits customers and local businesses with     same-day delivery times while supporting local businesses. Furthermore, ShareRing Shop assists communities by offering a convenient and free service for customers and businesses alike; so they can trade with each other in a truly localized, secure, and accessible marketplace.

Another major industry, the sharing industry looks to revolutionize is the logistics sphere. ShareRingID system makes the logistics sphere a major attraction. Stay tuned for more developments on this front.

Altcoin Buzz recently hosted an AMA with ShareRing CEO Tim Bos.

Project Tokenomics

ShareRing’s tokenomics is currently one of the most important aspects of the entire ShareRing network. Tokenomics encourages people to invest in ShareRing native token SHR. Subsequently converting proceeds from transactions into interest for SHR holders and stakers. Stakers and holders on ShareRing earn flow backs. Flowbacks don’t just serve as incentives they help increase SHR price. Another major selling point for ShareRing flow backs is that they have a fixed supply, hence are non-inflationary which is unlike most POS network. Most POS ecosystems resort to increasing their supply to pay for their staking rewards. Subsequently exposing the entire network to inflationary risks.

SHR Pricing

ShareRing’s token SHR has been on our radar since the beginning of 2020. As a micro-cap project, it has exhibited impressive growth since April 2020. The token has gained over 1862.38% between April 9 and July 27, 2020. Currently, SHR is trading at $0.04623845.

Major Partnerships

ShareRing since its inception in 2017, has formed several top-notch partnerships with several organizations.

  1. Samsung Knox partnership – Last week the sharing network announced via twitter that it has been admitted into the Samsung Partner project. ShareRing will be able to design products using Samsung’s SDK.

  2. Alphabit partnership – ShareRing has partnered with the cryptocurrency asset investment fund Alphabit. The firm will provide the sharing platform with capital, partnership acquisition as well as boost product development.
  3. Fireblocks Integration – ShareRing integrates crypto-asset transfer network Fireblocks. The network will provide the entire ShareRing ecosystem with top-notch institutional-grade security.
  4. GDA Capital – GDA Capital like Alphabit will provide the sharing network with growth capital while ensuring better distribution of SHR tokens.
  5. Plair partnership – ShareRing has integrated Plair as a payment option on its ecosystem. Now hotel bookings, car rentals, eVOA applications, insurance, etc can be paid for with Plair native token PLA. Once, ShareRing app scheduled to go live in Q3 2020, is launched users will be able to make payments with PLA tokens.
  6. LBankpartnership – ShareRing also entered a strategic partnership with Hong Kong exchange LBank. With plans to launch ShareRing shop later this year, the partnership with LBank is a step in the right direction. The partnership will open up ShareRing to better awareness in Asian and Chinese markets. Trading pairs listed on the Hong Kong exchange include SHR/BTC and SHR/USDT.
  7. Other notable partnerships – These include a strategic partnership with Alpha Sigma Capital. Last month, ShareRing shop soft-launched in Melbourne. In a bid to fight against the novel coronavirus, the sharing network gave out free packs of disposable masks to Melbourne residents. The sharing platform currently boasts of over 2.5 million hotels in 190 countries, more than 1.2 million vehicles in about 150 countries. The network will also provide over 200,000 tours, eVOA (Electronic Visa on Arrival) Applications, flights, insurance, etc.ShareRing Global in a bid to create awareness in China has filled 3 WeChat groups with 500 members.
Recent Exchange Listings
  • Bithumb Listing – Bithumb global has announced the listing of SHR on its GEM board. The listing is expected to take place on July 31, 2020, at 10:00 (UTC+8). Trading is slated to commence on August 3, 2020, at 17:00 (UTC+8). Trading pairs available include SHR/USDT and SHR/BTC.
  • LBank exchange – ShareRing SHR trading pairs got listed on Hong Kong exchange LBank on July 24, 2020. Trading pairs on the platform include SHR/USDT and SHR/BTC.
Final Takeaway

ShareRing’s decentralized marketplace is connecting users and service providers all over the world. The platform simplifies sharing and renting by creating a sustainable and easily accessible global environment for sharing. It currently boasts of being the only trusted sharing ecosystem in the world today. ShareRing ecosystem brings a new definition to creating use cases for cryptocurrencies worldwide. This, in essence, promotes much-needed awareness and subsequently fuels global crypto adoption.

The project will soon be releasing further details regarding their COVID passport. That would offer easier, faster, and safer travel during the pandemic. It is reportedly the first self-sovereign identity model solving privacy concerns with the blockchain while eliminating manual contact tracing.

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Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

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