ShareRing are the developers of the ShareLedger blockchain, a ‘smart service system’ that makes it far easier on a global level for millions of customers to access, and use on demand, a wide range of assets within the fast-growing sharing economy. ShareRing™ has incorporated a number of core elements that together create the smart sharing on-demand service system. These elements are:
- A custom-designed distributed blockchain (ShareLedger), which is already in development. ShareLedger will be harvesting one of the most recent developments in blockchain technology, i.e. a dual token mechanism. ShareToken (SHR) will be used as the utility token of the platform, while the second token, SharePay (SHRP), will be used as the currency for sharing services.
- Aspects of a proven platform and API which are already being used worldwide in the sharing economy.
- A clever, integrated smartphone app.
- Ongoing mechanisms for creating a strong and growing network of providers and users
Features and Benefits that the ShareLedger blockchain platform will provide over traditional cloud/server hosting sharing platforms:
- Quick and easy ‘sharing’ transaction validation.
- Immutable records of data.
- Additional attributes may be added to an account, such as ID confirmation, rental history, asset ownership, etc.
- SharePay (SHRP) is used by customers to pay for the rental of assets. ShareToken (SHR) is used by providers to pay for their access to the ShareLedger blockchain, including the addition of assets, renting out of assets, adding attributes, adding smart contracts, and other features.
- A provider can earn SharePay by renting out their asset (ie. car), and then use those tokens for example to rent an apartment, thanks to the multi-industry application.
- Earn additional tokens by hosting a node.
- Custom ‘rules’ may be added to assets or wallets to allow for various ‘sharing’ scenarios.