Company Aims To Become 'Amazon Of Sharing Economy' With Blockchain App

A company is building a Blockchain-based system to eliminate fragmentation in the sharing economy - and creating a single app that gives users access to "Any available asset they wish to rent, borrow or share."

The Australian company has the goal of becoming the "Amazon of the sharing economy," enabling users to lease "Assets" from a broad range of categories through a single smartphone app.

They would be connected to individuals nearby who have items they are willing to share, while rental companies would be able to develop their own "Mini" app within ShareRing to reach greater numbers of prospective customers.

In its white paper, the company lists areas where its technology could prove useful.

Some examples include renting cars, trucks and trailers, as well as booking delivery drivers, sharing gardens, swapping books, co-housing, car sharing and social dining.

"Highly customizable" smart contracts will be used to complete transactions, with the company stressing that typical users are not going to require advanced technical knowledge in order to use the platform.

Offering solutions for both corporate users and consumers, the company now has offices in five countries - and its main technology, KeazACCESS, was launched in May 2015.Executives say they have "Decided to take things to the next level" through Blockchain because a company is yet to help this industry achieve its full potential.

Growing the ecosystemAt the heart of ShareRing's system will be a "Clever, integrated app" which uses geolocation to show users which services are available nearby - and within two years, the company hopes that up to 1 mln assets will be available to share around the world.

ShareRing's token sharing event is set to take place in May, with the company planning to run token hunts and several other competitions to spread the word and raise awareness of the project.

While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.