ShareRing AMA – 20 Sep 2019

Hi ShareRing community,

For those who missed Tim Bos’s AMA on 20 September 2019, don’t worry! – We have transcribed the hour long event below.

For the short version, please find our key takeaways below:

*Thanks to one of our ShareRingers CryptoMark for helping to summarize.

1. ShareRing is launching Q3! The refreshed website and the app will launch at the same time. The tentative launch date for both of these is as early as 2 weeks from now. Pending approval from 2 partners who are currently reviewing the code.
2. Blockchain development has finished. Currently being fine tuned and updating core components such as tendermint. 
3. When the app launches, it’ll allow bookings from Day 1. 
4. The website updates will contain four core focuses: the app, platform for online travel agencies to integrate for their marketplace, whitelabel and SHR blockchain.
5. Partnership announcement – HomeAway (*Expedia) bringing on 2.5 million individual properties globally. The nature of the agreement is that SHR will work directly with property managers and integrate OneID functionality with the hotels and property managers.
6. OneID has future plans to allow you to check in digitally, unlock hotel doors using your mobile phone (iOS and Android) as well as redeem local currency at the hotel with competitive FX Rates. 
7. ShareRing is much more than a travel platform offering a modular approach. Companies can select the modules they wish to use (ie. One ID, ShareLedger, SharePay).
8. ShareRing will be doing monthly AMAs going forward, including a sales & marketing focused AMA with other members of the team.

For the longer version of the AMA please read on below:

Tim kicked off the AMA with a quick run down on all the latest updates.

• Development is done, fine tuning from the feedback received from partners
• KYC using company Feedo. Small updates to SDK and updating react and native
• Blockchain development finished with the blockchain explorer showing lots of transactions
• Using a company called Changely for crypto payment integration
• Working on promo codes to be put into the app
• ShareRing’s partnership integrations will be booked out for the next 6 months.
• Sales team are currently going direct to get special deals such as ‘stay 2 nights, pay for 1’ and other discounts. This is to build the direct relationship and not just rely on aggregators
• Offering white label solutions to online agents and hotels through API. This includes features such as One ID, ability to unlock hotel room straight from the phone, or check in kiosks powered by technology. We have received a lot of interest on these key features.
• Hired one more developer. Outstanding participants from the Hackathon have been interviewed to come on board as interns in our Melbourne office. These interns will be skilled across marketing, tech and overall generalists.
• Our exciting new partnership is with Homeaway, who are part of Expedia group. This will add over 2 million properties globally, offering short stay options similar to AirBnB. This partnership gives ShareRing direct agreements with property managers.

Next Tim answered the much awaited questions from you, our community. These were broken down into sectors.

App Questions:

What is the projected launch date for the ShareRing App?

Launch we are hoping for this month, much of it depends on partners as they need to sign off on the app before we can release to the public. New version of the app will be sent to MN holders next week.

Will we be able to book rooms through the app since Day 1?

Yes, real bookings from day 1! Room bookings will be first on the app, followed by cars, then activities, then flights. Idea eventually is have a shopping cart feature where the user can add what they need to the cart. For example, select flights, select hotel, select a hire car, even send off your visa application. Then pay for everything you could possibly need in one hit. Sharering is here to simplify travel.

With the recent Hackathon, is Sharering going to implement the winners onto the app ?

Next steps with the Hackathon winners are to have some sessions to discuss how to take their ideas forward and hopefully integrate it into ShareRing

How long have we got to refer new people to the app queue before it finishes?

Could be 1-3 weeks, as mentioned above, a lot depends on our partners reviewing the app.

Are Jane Kidd and Peter David still in Melbourne HQ for the launch? 

Peter is, Jane has gone back to the UK. I joined her there and had some meetings there last week.

Tech Questions:

Any updates on the technical side?

Latest code is on github which has been opened up to audits and to try and break. Also updated to the latest version of Tendermint

What would you say is the SHR feature or service that brings in most clients or interest?

One ID brings in most clients and has expressed the most amount of interest. Currently developing a SDK for One ID. A very popular car sharing platform will be the first to whitelabel. More information and PR on this will be later this year and early next year.

When will the updated Roadmap be publicly available to the community?

Updated roadmap will be included with the website update.

When are the buybacks happening for the first time? 

Buybacks will be month after release, actively on blockchain. Using random times and random amounts.

Has ShareRings OneId been patented?

One ID is not patented. 

Will there be an option to review the services and things that are shared?

Yes we will have a system in place that filters fake reviews. Masternodes will also be able to vote off unethical reviews.

Partnership Questions:

There has been word of possible government and smart city partnerships. Are any of these expected to actually come to fruition?

All our new partnerships have come from contacts in the government sector.

When will the integration with the first car rental company be completed, and when will its name be revealed?

Car rental partnership will be integrated and announced ideally before Christmas. 

Is there an option for companies to just opt in for single services that SHR offers, right? 

Yes single opt in, the new website will describe in greater detail around our modular approach.

Will Sharering be hosting any ridesharing companies?

We have spoken to larger ride share companies, possible integration if we wish. We plan to get in contact with local ride sharing companies in our target markets.

Can you please elaborate on what you mean when you refer to “partnership”? 

Aggregators are two ways, they promote us as much as we promote them. They offer PR, they provide property managers for direct contact and other additional features.

Travala have been experiencing quite decent growth over the last few months. Would be great to hear your thoughts on this and how you plan to compete.

Travella is a consumer focused app that uses crypto and reward points. That is where our similarities stop. We offer this and so much more. Our focus is about not using aggregators for everything, we have unique features such as One ID, express check in, cash out, modular functionality. This is what will set us apart.

Marketing Questions:

What are the plans for marketing campaigns once the app is launched?

We will host an AMA specific to marketing. As a quick run down our team has lined up user numbers, growth hacking and paid campaigns in the pipeline to get users on board.

Our team is talking directly with hotels forming direct relationships which in turn will bring faster growth through referrals and recommendations as opposed to flooding a saturated market with ads.

When will the announced website refresh be made available?

As mentioned above, website will be launched soon, we are currently reviewing latest designs. This will launch in sync with the app. Sneak peaks to be revealed soon..

Token Questions:

Could you comment a bit about the bitmart competition fiasko?

We can’t say too much at this stage. There was a bad actor that had huge influencer on the price of the token. Working with BitMart to see what happened.

Is the tokenburn still on the table and whats the content?

Regarding the token burn we haven’t finished the forward looking calculations. We don’t want to be stuck in a position where there is not enough tokens to scale for more than 5 or 10 years into the future so need to make sure its accurate.

In a tweet Tim says that the circulating supply will be lowered with approx 250million tokens from the mn holders. How did you come up with this number? And what if the mn holder doesn’t want the node anymore and unlocks and withdraws his tokens. How does this work?

250m tokens going directly to MN holders. This was calculated by asking how many they will be staking. From there we choose the lower end of the estimation combined with ShareRing staking. For MN holders there is bonding period if they can’t unlock them immediately. 

You’ve mentioned a few times that you’d release a document that discusses, in part, the token economics. When will that document be released?

POS paper and token economics paper to have a few changes made. This will be released soon. Also more information sent to coinmarket cap which should be live soon.

Is there a restriction on the number of masternodes each person can hold? 

Yes, maximum is 2. Plan is to make it distributed so it’s not all in one region or city – good distribution, democratic network.

What would happen to those that have bonded their tokens to a masternode, and then that masternode goes down? 

Tokens must be unbonded first before they can be bonded to new MN – 3 weeks.

YouTube Questions:

When will MN holders go up to 40 or 50?

We will release a list with the details.

How can i get masternode?

To get a MN, as mentioned, ShareRing is looking at a more regional focus. We will release more details soon, but looking for individuals who can create a business case on how you can help ShareRing and promote the business. If given a Masternode, you will have access to a budget to work with. 

Hosting requirements – VPS location, can run on on small 2g ram machines, biggest bottle neck is disk space, must have high network connection.

Any news on block explorer development?

Block explorer needs update, can’t currently search by address, and not a lot of depth on hash. Updates to this coming, we do not currently have time allocated with the dev team. If anyone wants to help with updates, please put your hand up. 

Is ShareRing listing on anymore exchanges?

We will join a couple more exchanges for SHR buybacks, not currently in talks with any as yet. We’ve been approached by quite a few.

Transactions with One ID?

One ID will have 3 transactions. Initial set up is 1 transaction, each time its checked a transaction both user and merchant equaling 3.

What happens in the background?

Transparent with what charges are, 0.25 for conversion. The token is transferred to a stable coin, stable coin at no fee is then transferred to our multi currency account, from here the aggregators are paid. This all happens in the background.

That concludes this AMA’s questions. We will be doing monthly AMA’s moving forward. Stay tuned for our next one!

ShareRing

AMA can be found at: https://t.co/Mayv9eqxHY?amp=1