The ShareRing Network is a blockchain project that aims to create a unified ecosystem for the sharing, travel, and on-demand economy. Recently, they announced that they were joining the Fireblocks Network, which is a secure digital asset-transfer network.
Fireblocks Network Integration to Expand Participation in the Digital Ecosystem
The Fireblocks Networks will allow HNWI, funds, and other institutional entities to gain exposure in The ShareRing Network and take part in the digital economy. Integration into the Fireblocks Network will enable anyone who is not a participant in the on-chain SHR to enter the SHR decentralized ecosystem securely.
The Fireblocks Network utilizes the same security standards used by the financial services sector. With the integration, it will boost the existing partnerships that SHR has with HomeAway, eVOA Thailand, BYD, Viator, and other partners in Asia. In addition, Fireblocks works with some of the largest institutional players like Genesis, Galaxy Digital, Blockfills, Prime Trust, Celsius Network, Nexo Finance, and others.
ShareRing utilizes the distributed ledger to streamline the on-demand economies via the ShareRing Shop app. Additionally, SHR helps to bring cohesion in the fragmented rental and travel gig economy in various sectors using the ShareRing travel app.
Some of the areas that the travel app targets are flights, hotel check-ins, insurance policies, claims, tourist and visa applications, COVID passport, mobile wallets, digital identities, car rentals, and payment solutions. The ShareRing Shop app will be initially launched in Australia and select markets in SE Asia in August 2020. After that, the app will launch globally in 2021. The ShareRing Travel app is ready and will be launched as soon as the travel sector recovers from the COVID19 outbreak.
ShareRing Platform Value Proposition
The SHR platform is powered by distributed ledger technology. Each transaction is secured and user identity is checked and authorized before a rental agreement is signed. It ensures the booking process is faster and more secure. Additionally, the platform offers lower fees for both the users and the merchants while ensuring seamless cross-border transactions.
Via ShareRing, users can book and pay for over 2.6 million hotels and accommodation facilities, 200,000 flights and activities, and 1.2 million car rental services in over 200 nations securely using crypto and fiat. Additionally, the firm has created partnerships with various travel and logistics companies to help streamline the customer experience via the ShareRing Shopping app and the Travel app. The result is that travelers can book flight and accommodation needs and buy goods in one app.
A Platform for a Globalized World
The world is becoming increasingly integrated and so too are businesses operating in the global economy. However, inefficiencies in the payments sector have been a major source of concern. The reason for this is that the payments sector is highly fragmented with numerous domestic payment services that are not integrated.
ShareRing is creating a new era for global citizens by ensuring they do not need multiple accounts in multiple nations to shop and travel around the world. Instead, people can fulfill all their global shopping and travel needs from one secure account. It is an important project for the global adoption of blockchain technology and cryptocurrencies.
Image Source: ShareRing