VeChain joins the ShareRing Ecosystem; allowing hotels, car rentals, tours, eVOA applications, insurance and so much more to be purchased with VET!
VeChain Joins the ShareRing Ecosystem!
We are excited to announce the implementation of the VeChain (VET) token as a payment method in the ShareRing ecosystem!
VeChain is the world’s leading enterprise-grade public blockchain platform. Over 30 of the Fortune 500 including Walmart, BMW, LVMH, Renault and PwC have live solutions running on the public VeChainThor blockchain. When the ShareRing application launches on February 8th this collaboration will enable VeChain token holders to use their VET towards:
- 2.5 million hotels in 190 countries
- 1.2 million vehicles across 150 countries
- eVOA (Electronic Visa on Arrival) Applications
- Activities & Tours
- And much more!
An Insight into VeChain
VeChain believes that blockchain technology is one of the foundations for the next generation of information technology. With the technology’s immutable and tamper-proof characteristics, blockchain as a general-purpose technology is uniquely positioned to enable unprecedented value and data-transfer among a wide set of users in a trust-less manner, boosting the efficiency and authenticity of information transfer itself.
VeChainThor is a public blockchain that is designed for mass adoption of blockchain technology by business users of all sizes. It is intended to serve as the foundation for a sustainable and scalable business blockchain ecosystem.
From a technical point of view, the VeChainThor blockchain is built upon existing proven blockchain innovations and novel technologies that are created for achieving mass adoption. These technologies include the Proof-of-Authority (“PoA”) consensus algorithm, meta transaction features, protocols of transaction fee delegation, on-chain governance mechanism, built-in smart contracts as well as tools for developers.
The VeChain platform has two tokens: VeChain Token (VET) and VeChainThor Energy (VTHO). VET is used as a store of value and smart payment currency, while also generating VTHO, giving VET it’s intrinsic value.VTHO is used as the gas to pay for transactions.
VeChain’s vision of lowering the barrier and enabling businesses with blockchain technology is to create value and solve real-world economic problems. When one of the CREAM’s team members (CREAM is one of two of VeChain’s strategic partners to help the adoption of VeChain) first heard about ShareRing, he was intrigued and reached out to the ShareRing team to make integration happen on VeChain.
“VeChain is a perfect match for the ShareRing ecosystem, in which VET owners now will be able to use services across the world in a trust-free way”Jackson, CEO of CREAM
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 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.
ShareRing’s OneID solution protects users’ 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 its 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.
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 travellers 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 bringing an estimated 10 million users to the ShareRing platform in the first year.
Our OneID system is scheduled to become the lynchpin technology in Gateway Services Electronic Visa on Arrival (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 bringing an estimated 10 million users to the ShareRing platform in the first year.
Through ShareRing users can make Instant claims; receive claims back to your E-Wallet as well as having the ability to submit and track claims all within the app. You will also be able to customise your coverage options. In the future, there will be a range of insurance products available on the ShareRing app, such as:
- Travel insurance
- Car insurance
- Pet insurance
- Product warranty
- Extended warranty insurance.
For more information about what ShareRing do and how we operate, please visit the website here: https://sharering.network/en