Introduction

This month, ShareRing decided to run a competition intended to encourage other cryptocurrencies and their respective communities to become more actively engaged in the rapidly growing sharing economy. The response was exceptional, with over 7000 votes placed during the 1 week period. The competition was fierce, with tense battles between the Tron, VeChain, Nano, and Elastos communities. 

In the aftermath, Tron came out victorious! They will be the first community voted coin integrated into the ShareRing’s app. Soon you will be able to pay for flights, hotels, car rentals, tours, eVOA applications and much more… with Tron!

An Insight into Tron (TRX)

Tron is a blockchain-based decentralized platform with ambitions to build a free, global digital content entertainment system with distributed storage technology. The Tron platform allows simple and economical distribution of digital content. 

Tron was founded in September 2017 and is headed by CEO Justin Sun; it has a dedicated in-house development team containing renowned developers.

The number of daily DApp users on the Tron blockchain is estimated at 100,000. Also, by the end of Q1 2019, the number of Tron wallets reportedly exceeded 2.3 million and about 15.46% of them interacted with DApps.

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 identity 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.

How does ShareRing benefit Tron users?

When the ShareRing app launches in Q4 2019, Tron 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!