The sharing economy. Talk of Uber, Airbnb, Lyft, and all sorts of emerging platforms enabling individuals across the globe to share and earn or save money.
For what it is, it has been dubbed as the gig economy. Others call it the collaborative economy. Yet others, the peer economy. Thing is. It doesn’t matter what you call it. What’s important is what it is.
Statistics estimate that the burgeoning industry is worth over $100 billion and could expand to over $325 billion by 2025. That’s roughly a 2.5X rise at current valuation. The industry continues to shape processes and more people are attracted to its efficiency and cost savings.
Shared platforms are the wire frameworks where people can readily exchange tangible and intangible resources at scale consequently reducing transactional friction.
The emergence of such platforms on blockchain, for instance, minimized and sometimes completely looped out the costly middleman.
Users can generate value from idle resources. Concurrently, clients can save money while avoiding huge capex. From shared offices, to cars, and to houses, the trend is about to change as blockchain creates more opportunities.
What is ShareRing?
By utilizing the power of distribution, ShareRing has its focus on the multi-billion sharing economy and have specific plans to disrupt the heavily fragmented travel industry. For good reasons.
The travel industry is a jackpot but is currently full of friction.
In 2017 alone, the Travel and Tourism industry in the US contributed over $1.6 trillion to its economy, supporting over 7.8 million jobs. US tourists and travelers represented almost 32% of all Service exports.
ShareRing says it is taking the hassle out of travel by streamlining processes and fusing a highly fragment market. Every booking and verification are done from one app using one login.
This way, there will be no more juggling of passports, travel documents or even bank documents.
- One login all travel credentials are available from one place.
- One app all the travel needs will be in one place. At the end of the day, ShareRing hopes to be the “Amazon” of travel marketplaces.
- One payment clients’ funds are secure and cheap, all payments are billed from one location
- One ID gives more control and clients can choose where they want to store them. IDs are not stored in the ShareRing ecosystem.
They are launching a blockchain marketplace specifically designed for the over $100 billion gig economy. A user can anytime use this platform and launch the next Uber or Airbnb while enjoying efficiency, security, and one payment mode with no extra FX charges.
Their growth will stem from the implementation of a two-sided marketing plan that will be business and customer facing.
Ultimately, ShareRing will provide universal access to the sharing economy by leveraging technology and launching tokens, SharePay (SHRP) and ShareToken (SHR).
SharePay is the base currency, a stable coin, which is used for paying to use third-party assets offered by issuers. Meanwhile, the ShareToken is a utility token within the ShareLedger blockchain built on Tendermint Core framework.
The ShareLedger blockchain also uses the Leased Proof-of-Stake consensus algorithm (LPoS). LPoS is a more secure improvement of Proof-of-Stake. This way, the ShareLedger blockchain is more scalable and comprise light nodes and full nodes—the backbone of the ShareLedger. Lightweight node operators can stake their SHR.
However, the main difference and a unique feature with LPoS is that there are no contracts specifying lock-down periods. By delegating their SHR to a full node of their choice with no restriction, they can participate in consensus.
Transaction fees will be paid in SHR and the amount will decrease over time depending on demand.
50% of collected fees will be distributed to masternodes while the other half to the creators of the platform, ShareRing limited to cater for operational costs and other capital requirements.
- Tim Bos is the CEO and the Founder and CTO at Keaz, Founder at ShareRing, speaker, mobility expert, sharing economy, blockchain and startup advisor. He has over 19 years’ experience working with start-ups and established enterprises with a focus on technology.
- Rohan LePage is the Chief Operating Officer and Co-Founder. He is an experienced Business Manager and Director with a demonstrated history of working in the automotive industry and Crypto space. Skilled in Marketing Management, Project Management, Negotiation, Business Planning, Sales, and Customer Relationship Management (CRM).
- Peter David is the Co-founder and Non-Executive Director. Peter has a lifetime of experience in every aspect of growing global technology business. As CEO, COO or general manager, he has led several startups to generate total revenue of more than $300 million. In 2013 he founded Keaz with Tim Bos and currently serves as the company’s CEO.
- Neville Christie is the co-founder and Investment Director. His core function has been to drive exceptional people, disruptive technologies, start-ups, and mature businesses to become more innovative and impactful at scale, without sacrificing the authenticity of ‘soul’, or total well-being, of the businesses or the individuals leading them.
The project’s core development team includes: Trung, Tung, Trang, Manh, and Tan.
The team is advised by:
- Adrian McCullagh who has been a solicitor for 30 years having concentrated on IT law, and IT security law. He is presently advising on Blockchain technology and its legal impact and is currently working on 6 ICOs across multiple jurisdictions.
- Christopher Emms who is a serial entrepreneur with extensive experience working with Startups and Ventures.
- Jonathan Galea who has considerable experience in the blockchain sector ranges from a close study on the developing regulation in the area to hands-on experience in the technical and economic aspects of cryptocurrencies, one of the most widely-adopted uses of the blockchain so far. Jonathan’s LL.D.
- Anna Melton, a cryptocurrency evangelist and a highly experienced Marketing and Public Relations consultant with an extensive background in fast-paced and dynamic industries including Fintech and Gaming.
Others include: Richard Kastelein, Ting Y Chan, and Gary Palmer.
- They have partnered with Dhipaya Insurance which is the largest non-life insurance company in Thailand. The Thai government owns majority of Dhipaya Insurance.
- Also, the world’s first Blockchain based eVOA in place with major Thai company Gateway Services targeting 5 to 10 million travelers from 22 countries is already in place. These countries include China and Asia. With Mandatory Insurance this will generate around 40 million transactions per year from Thailand eVOA alone and around 10 million transactions from Insurance on the ShareLedger.
- They have partnered with HomeAway. This way, 2.6 million international hotels and accommodations will be available straight from the platform.
- ShareLedger have struck a deal with several multi-global car sharing firms.
Other major partners include:
- BYD (Largest Electric Car Maker in the World)
- DJI (Largest Drone Maker in the World)
- Keaz (300 locations around the world)
- Yogoo EV Car Sharing
There are also more partners to be announced with time.
Tokenomics and Token distribution
SHR token was issued as an ERC-20 token but swapping to BEP-2 tokens is possible. The team shifted to the Binance Chain because like ShareLedger, it is built on Tendermint core.
- The BEP-2 SHR token is for trading
- The SHR issued on the mainnet is for staking and consensus
- SHRP, the currency, is a stable coin.
SHR can be converted to BEP-2 SHR token through atomic swapping
In total 3 billion SHR tokens were generated.
The hard cap was placed at $38 million
- During the Pre-token sharing event, each token was sold for $0.01, a 50% discount. Then, the minimum contribution for pre-sale participants was $150,000. Purchased tokens were locked for three months.
- In the main token sale event, each token was sold for $0.02, there was no discount.
- No SHRP was issued
- There was no minimum investment for the main sale, but KYC and Whitelisting applied
- US and Chinese investors were barred from participating.
At the time of press, each token was trading at $0.00138758 with a 24-hour trading volume of $16,736.99.
It’s all-time high was $0.01527456.
The token is traded on two exchanges: Binance DEX and BitMart
Token distribution is as follows:
- 60% to investors
- 24% to ShareRing
- 5% to a Bounty Program
- 10% to Advisors
- 1% for Air Drops
Funds allocation is as follows:
- 30% to mainnet development
- 10% to auditors
- 30% for setting up incubators and bonuses
- 20% for marketing and promotions
- 10% for contingency funds
- The ShareRing Block Explorer is now live. The code for the explorer is open on GitHub.
- There are more and more masternodes going online. According to Tim, the accrued income for the node holders is ready. This is a short-term boost and a perfect incentive.
- The mainnet is live. Already, there are a couple of cars sharing systems running and some car rentals. The team is also pushing for a logging system for a transport company.
- The ShareRing mobile application is live. Users can now create their OneID and ShareRing e-wallet. Also, users can book hotels and apply for an eVOA, plus insurance.
- Over 20 partnerships will be unveiled with time.
- Already listed at BitMart but support at Binance main exchange will be possible once there is sufficient liquidity.
- A buyback, or a flow-back model exists and the team plans to use collected transaction fees to purchase SHR tokens and redistribute them back to stakers. Over time, this builds up more selling pressure while securing the network through staking.
- A modest share of the fast-growing share economy expected to grow to $325 billion in the next five years. ShareRing is fusing a highly fragmented market that is largely unexploited.
- Their masternode transaction fee model aid in promoting the platform. 50% of transaction fee collected is channeled to masternodes which is then shared depending on the number of tokens staked from lightweight nodes.
- ShareRing will allow users to pay for any service using fiat currency as well a variety of cryptocurrencies, including BTC, ETH, VET, NANO, MATIC, BNB and many more.
- Predicted revenue for 2020 is estimated at $15 million, growing exponentially as more POC get converted
- There is a buy-back program in place and that will stimulate demand for SHR in the long-term. Additionally, the no inflation model maintains a constant velocity for SHR tokens.
- ShareRing continues to build. At the moment, the team plans for an immutable review engine, a payment system with little or no FX charges, a booking engine, and an IoT engine for IoT tracking.
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