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Blockchain Platform Aims to Become a One-Stop-Shop for Sharing Physical Assets


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According to eMarketer, 66.3 mln people will most likely leverage the potential of the sharing economy this year. In spite of its notable expansion, the sharing economy does have pain points. Many providers deal with segmentation in small local markets, not to mention that numerous platforms are either confusing or feature really high fees.

Apart from Uber and AirBnb, many notable platforms that operate in the sharing economy are left in the shadow. Even though they do exist, and the services they provide are broad, access is fragmented by providers operating in small local markets. The sign up process differs from one platform to another and accessing “assets” may often seem complex and difficult. There’s also an issue of trust. Consumers don’t have the guarantee that a certain provider sharing a car, house, or any other physical goods, can truly be trusted.

As far as sharing assets is concerned, trust is of the utmost importance when dealing with third parties. SharingRing is a new Blockchain-based platform that aims to disrupt the sharing economy with its ShareLedger Blockchain. By enabling universal access to each and every asset within the ShareRing smart system, trust is established from the ground up.

The ShareRing journey started from the making of Keaz

At the core of ShareRing lies the team behind Keaz, international leader in car sharing solutions operating in countries like New Zealand, Australia, Hong Kong, the United States, and Vietnam. The technology ShareRing uses is KeazACCESS, which was released in 2015 and is currently providing daily access to 8,000+ people sharing their vehicle assets on a global scale.

KeazAccess is a cloud-powered ecosystem encompassing three global markets: sharing economy, IoT, and vehicle & passenger mobility integration. Its end goal is to enable organizations, enterprises, individuals, and communities to share and access assets digitally. Although Keaz has proven its potential, its makers are taking things to the next level with ShareRing.

The ShareLedger Blockchain & dual coin system

By leveraging the ShareLedger Blockchain, the development team at ShareRing will use the registered intellectual property and experience from its existing KeazACCESS framework. It will relocate the most relevant components onto a new blockchain with a dual coin system to ensure reliable, secure and transparent payments on the platform.

SharePay (SHRP) is the ShareRing utility token, in other words the base currency meant for paying for asset use from third parties. The second is a digital utility token, ShareToken (SHR), which permits all transactions to be written on the decentralized ledger of the platform.

With the introduction of the smart contract system, ShareRing’s trustless payment structure paves the way to a safer sharing economy, removing the need to sign up for multiple accounts. The dual coin system is meant keep token price fluctuations under control, as well as prevent users from going through an exchange to buy tokens for use on the platform.

The journey to become the Amazon of the sharing economy

The sharing economy is in dire need of a central marketplace that can bring different sharing platforms in a single place. By leveraging Blockchain technology to streamline the process, ShareRing could potentially enable people to secure accommodation from AirBnb, get an Uber car from the airport, shop on eBay, and even order food from Foodpanda, all from a single app.

The popularity of ShareRing skyrocketed in 2017, when the developers behind the project won 1st place at the Blockchain Hackathon in Vietnam. Following the event, more global partners have joined the projects, with notable names being added progressively onto the ShareRing website.

The ShareRing Token Pre-Sale Event is live. 4 bln. tokens have been issued, with a hard cap of $48 mln. SHR tokens (1 SHR = $0.01) are available on Ethereum and will leverage the ERC20 token standard. A minimum contribution of $150,000 is required to participate in the pre-sale.

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After leaving his position as an executive at Steven Cohen’s Point72 hedge fund, Travis Kling decided to start his own crypto-focused fund. This was a big and bullish announcement back then, but it still wasn’t enough to save the crypto market, which crashed only a month later. The following nine months were almost completely ruled by the bears, which has brought a lot of damage to the crypto world. Still, according to new reports, Kling has never given up on this project, and it seems that he will finally be ready to launch the new hedge fund over the next month. The dates have not been set yet, and it is possible that the fund’s launch will be as soon as in about two weeks. Former Point72 Manager Plans the Launch of His Own Crypto Fund The fund has been expected for a long time now, and according to what is known, it will be based in Delaware. Some reports even managed to find out that the name of the fund will supposedly be “Ikigai”. While nobody known for sure when the fund’s launch is actually going to be, it is known that it will happen in October. At first, the fund will be backed by a certain amount of capital that Kling’s unnamed partners have invested. However, later down the line, after the project starts its development properly, Kling plans to search for additional investors. Additionally, he will also add $15 million on November 1st, according to the reports. Eventually, by the time the mid-2019 arrives, Kling hopes that the fund will grow and expand to around $100 million. He even expects Ikigai’s venture branch to rise to $33M in capital invested. As for the foreign investors interested in the fund, they will be capable of allocating capital through investment vehicle based on the Cayman Islands. A Multi-Trillion Asset Class? During one of his recent interviews, Kling stated that he truly believes in the project, as well as the concept, and those willing to back it. This, more than anything, indicates that the project is more than just an attempt to generate large profits. Kling stated that he expects this to become a multi-trillion asset class that will expand to touch everyday life. He stated in an interview: It’s still very early, but the development and growth of this technology will be exponential. The firm will have a 13-person team that is said to be located in Los Angeles, while the fund will seemingly follow the regulations implemented by the Delaware government. Many believe that Ikigai’s launch will come on October 1st and that most of the allocated capital will remain in cash, at least at first. This is due to the fact that the investors are still trying to find a secure way into the crypto world. The post Institutional Investor: Crypto Will be Worth Trillions, Launches Hedge Fund appeared first on NewsBTC.

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