Nano – ShareRing’s New Payment Method

Fruitful beginnings

ShareRing is thrilled to announce our partnership with Nano; who will be integrating into the ShareRing app, launching Q4 2019. With this partnership, Nano users will be able to use their favorite coin to pay for flights, hotels, car rentals, tours, eVOA applications, insurance and much more!

An Insight into Nano

Nano strives to revolutionize blockchain technology and solves the problems affecting top traded cryptocurrencies like Bitcoin, by providing scalable zero-fee transactions in real-time. Nano manages to do this in a sustainable way, removing the need for wasteful mining to secure transactions on the network, making it truly viable solution to digital money.

All of this is achieved by using Nano’s innovative technologies, namely the Block Lattice data structure and Open Representative Voting. Nano is commonly referred to as one of the first coins to use a directed acyclic graph (DAG) system, and its asynchronous nature provides the much-needed improvements in scalability and usability.

Essentially,  every individual is assigned their own blockchain, called account-chain. This way, your wallet balance is always kept updated and secure, while also keeping the blockchain working smoothly.

An Insight into ShareRing (SHR)

ShareRing is a total solution, servicing consumers and businesses alike. We connect the highly fragmented sharing economy by bringing together sharing services across all industries and geographies. Using ShareRing’s decentralized marketplace, users can securely access, connect, and pay for services anywhere in the world. Rental providers receive payments instantly, without any currency conversion fees, and with incredibly low transaction fees.

The ShareRing App

A universal ‘ShareRing app’ is in the final stage of development and testing; the app will feature geolocation-based services, enabling anyone to easily see and use any sharing services within their immediate vicinity. Each business partner will also have the opportunity to develop a ‘mini’ app within the ShareRing app, which will have functionalities specific to those partners.

OneID

ShareRing’s OneID solution protects user’s data by handling Know Your Customer (KYC) information through Onfido and ShareRing’s Self Sovereign Identity Protocol.  ShareRing does not hold any identifying information anywhere on their servers. It provides the ultimate security for the renter and also the provider, as the Protocol encrypts and stores your data in a secure manner within your device. Essentially, this means that it is near impossible for a hack or data leak to happen, simply because there is no centralized server of data for hackers to exploit.

OneID is very easy to use. The consumer needs to complete their ID submission only once, with the entire submission process requiring less than two minutes to complete. Once this step has been completed, the customers KYC is destroyed by Onfido and the OneID module will allow merchants to verify a customer’s identity via a hashed verification. This removes the need for merchants to store or see personal information; safeguarding both merchants and users from fraud.

To create a ShareRing OneID, simply:

• Take a picture of your government ID document 
• Take a selfie
• Confirm and submit your details

E-Visa On Arrival (eVOA)

ShareRing’s eVOA feature allows applicants to apply online and receive a travel authorization before departure – this eVOA can be shown at dedicated Thailand immigration counters on arrival at major Thailand airports, allowing travelers to pass through in minutes. 

OneID system is scheduled to become the lynchpin technology in Thailand’s electronic eVOA system; one of only two companies to partner with Thai authorities to provide this service. The new Visa system eliminates much of the hassle involved in entering the country; in addition to bring an approximation of 5 million users to the ShareRing platform in the first year.

How does ShareRing benefit Nano users?

When the ShareRing app launches in Q4 2019, Nano users will be able to use their coins for the following services:

• Car sharing and renting – 1.2 million Vehicles across 150 Countries
• Vacation sharing and renting – 2,500,000 vacation rentals in 190 countries.
•  Countless activities
• Flights
•  eVOA
•  Insurance and far more!