The ShareRing Network (SHR), a blockchain project creating a unified ecosystem for the travel, sharing and on-demand economy is being added to the Fireblocks Network; the industry’s most secure digital asset transfer network. Creating a transfer and settlement network with institutional-grade security allows for funds, HNWI and other institutional entities to gain exposure into SHR and participate in the larger digital asset economy. This Fireblocks integration ensures anyone who is not yet an on-chain SHR participant, can be brought into SHR’s decentralized ecosystem in a secure manner. With adherence to the same level of security that the financial services industry was built on, this integration greatly improves the ability for ShareRing to bolster its existing partnerships with Viator, HomeAway, Dhipaya Insurance, eVOA Thailand, BYD and other key stakeholders in the Asian market.
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ShareRing is powered by distributed ledger technology. By leveraging DLT, ShareRing is posed to streamline on-demand economies with their ShareRing Shop app. As well, ShareRing will also help to blend the fragmented travel and rental (gig) economy across several targeted sectors with their ShareRing travel app, including but not limited to hotel check-ins, activities, flights, insurance policies & claims, visa and tourist applications, COVID passport, self-sovereign digital identity, mobile wallets, payment solutions and vehicle rentals. The ShareRing Shop app will go live with an initial launch across Australia and key markets in South East Asia in August, followed by a global launch in 2021. The ShareRing travel app is ready to go live when the travel economy recovers from the COVID-19 Pandemic.
“The ShareRing platform is built on distributed ledger technology, which means every transaction is secure and users’ identities are checked and authorized before a rental agreement takes place. This also allows for a quicker and more secure booking process. ShareRing offers lower fees to both the merchant and user; with seamless cross border payments.” said Tim Bos, Co-founder, and Chairman of ShareRing.
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ShareRing’s value proposition includes travellers being able to securely book and pay for over 2.6 million hotels/accommodations, 1.2 million car rentals, 200,000 activities and flights in over 200 countries using fiat or crypto. Furthermore, the company has made strategic partnerships with key logistics and travel firms to streamline the customer experience by combining their ShareRing Shop app with their travel app, allowing customers to securely book all their travel needs as well as purchase goods locally from one app.
As the world becomes increasingly more global, so too are the businesses that power this international economy. When operating in a global marketplace, relying on domestic payment processors, merchants and other localized stakeholders is inefficient. Therefore, SHR signals the new era of global consumerism, where participants do not need to rely on multiple accounts, in multiple jurisdictions to travel and shop. Instead, people can use SHR to travel, explore, purchase goods from local businesses and live abroad all from one secure account.
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