Decentralized Sharing Economy Startup ShareRing Selected To Join China’s Blockchain-Based Service Network

Announcements, Blockchain, News | September 17, 2020 By:

Global sharing marketplace ShareRing has been selected to join China’s Blockchain-based Service Network (BSN).

ShareRing is an on-demand, two-sided marketplace that brings together sharing services across all industries and geographies, with share economy users who can securely access, connect and pay for these services anywhere in the world. The platform’s utility token, ShareToken (SHR), drives sharing transactions to be written to the ShareRing ledger, the second token, SharePay (SHRP), acts as the currency for sharing services. By going with a two-token strategy, no knowledge of blockchain/crypto is necessary to utilize the ShareRing ecosystem.

First piloted in October 2019, China’s BSN network is a government-backed blockchain initiative that was initially positioned to help small to medium-sized businesses build and deploy blockchain apps on permissioned blockchains. Officially launched in April 2020, China’s BSN aims to become the Internet of Blockchains with the most easily accessible and affordable network that uses a cross-cloud, cross-portal and cross-framework global public infrastructure. Developers can simply plug-and-play to integrate DApps allowing them to focus on innovation and programming smart contracts, reducing the time and costs associated with interfacing blockchain technologies with traditional legacy systems.

In a press release, ShareRing said that the criteria for acceptance into the BSN network is selective, only focusing on projects deemed to have the greatest potential and impact in the world for businesses and users. According to ShareRing, its platform was chosen because of its low-cost, modular infrastructure and contribution potential of the network.

“We are honoured to partner with BSN, joining industry giants like Ethereum, Neo and Tezos,” said Tim Bos, CEO of ShareRing. “We share their vision of removing costly entry barriers to blockchain technology and its benefits for businesses and individuals regardless of their size, resources or industry expertise. We are confident we will achieve our mission together.”

“The BSN Foundation is pleased to welcome ShareRing into our ecosystem,” said Michael Ma, COO of the BSN Foundation. “Their ability to offer seamless integration with a broad range of DApps will be a strong addition to our vision to build an inclusive and accessible blockchain network for the world.”