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.”
ShareRing[1] claims the current market is extremely inconvenient for consumers. Although thousands of companies exist, many of them are specialized in one particular niche, such as caravans or office space[2].
This forces users to go through the arduous process of registering multiple accounts – and, given the fact that some of these small businesses only operate in a heavily localized area, there’s no guarantee that the items they need to borrow will be available where they live.
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. ShareRing is already exploring deals with big brands, and the latest partnerships will be announced on its website.
In its white paper[3], 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.
ShareRing’s Blockchain platform, known as ShareLedger, is already in development. “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.
“Taking things to the next level”
The team behind ShareRing already have experience in this industry
