ShareRing AMA Recap

ShareRing AMA Recap

CryptoDiffer team

Hello, everyone!

We are glad to meet here 

Co-Founder and CEO of ShareRing, Tim Bos

Communications Manager at ShareRing, Tim Kingery

Co-Founder and CEO of ShareRing, Tim Bos

Hi all, it’s great to be here!

Communications Manager at ShareRing, Tim Kingery

Hey everyone! Good to be here

CryptoDiffer team

1. Can you explain a bit more about the partnership with Tencent Holdings?

Co-Founder and CEO of ShareRing, Tim Bos

Sure.. we’ve been working closely with the Tencent team in Thailand since the start of this year. Initially, it started as just a technology discussion about how we can utilise some of their OCR technology, but as they learnt about what ShareRing are developing, we started collaborating on our and their technology more, with a specific focus on the ShareRing ID product.

Since then, we’ve been working together to build our joint technology, as wel as a number of joint sales opportunities, mostly around COVID tracing, Visa on Arrival and some banking opportunties.

CryptoDiffer team

2. What makes ShareRing’s competitive vs other b2b tech solutions?

Co-Founder and CEO of ShareRing, Tim Bos

Good question. It differs, depending on who we are speaking to, but we’ve found that our ‘privacy by design’ methodology, as well as the core technologies of ShareRing ID, ShareRing Pay, etc and flexibility of our platform help us to get in the door and get a lot of the very large partnerships. We also have a team that have a lot of experience working with large enterprises.

CryptoDiffer team

3. What do you expect in terms of transaction volume over the near quarter? Next year?”

Co-Founder and CEO of ShareRing, Tim Bos

That number seems to change every day, depending on the status of the partnerships we have. We’re currently ramping up from a few thousand per day, and expect to hit 50,000+ per day in the next few weeks.

Beyond that, we have a pipeline with millions of tx included. For example, one of our eVOA projects could give us about 5,000,000 new ShareRing ID accounts per year, and each of those would have multiple transactions each.. that’s just 1 project.

CryptoDiffer team

Awesome, a lot of updates to come out!

Thank you for great answers!

I think it is time to start community questions round!

Cryptodiffer Community

–  Can a small retailer use the ShareRing platform to offer their products? Is it possible to do this worldwide or is it limited to certain countries?

–  In case of breach of contract by service providers, does ShareRing have any compensation for its users?

Communications Manager at ShareRing, Tim Kingery

This is the plan as we begin to roll out Shop to more countries. We began in Australia with a soft-launch, and that has been recently acquired by another company who intends to whitelabel the solution and expand it to the rest of the country there.

It is free for retailers to list their products, free for anyone to use, and we will have a referral/affiliate program for community members to help us expand to new cities beyond Australia and Thailand

Cryptodiffer Community

Why do we need an intermediary like ShareRing Payy to make payments? What advantages does ShareRing Pay offer to sellers and buyers? Is it not enough to send funds from one wallet to another?

Communications Manager at ShareRing, Tim Kingery

ShareRing Pay is a flexible stablecoin that allows for micropayments, receiving payments and paying out in any currency. With our own fiat liquidity pools, we’re able to provide very low FX fees.

Cryptodiffer Community

How do you plan to increase the demand for the ShareRing token in the future? What incentives have you taken to attract new users?

Communications Manager at ShareRing, Tim Kingery

Much of the demand for SHR will come from the fees required to pay for the transactions on the network. As transactions increase, more SHR will be purchased from the open market via ‘flowbacks’ to be distributed as rewards to stakers and node operators.

Cryptodiffer Community

You can say a little more about your team I see a group of 5 people on whitepaper, mostly there is more on the background.?

Communications Manager at ShareRing, Tim Kingery

In order to answer as many questions as possible, we’d invite you to our website at https://sharering.network to learn more about our awesome team 🙂

Cryptodiffer Community

-What necessitated the Smart Contract Upgrade of SHR token? Was there any bug found in the old ERC20 contract address? Have you done series of tests and back-tests on the new contract address?

-Can you throw more light on the non-inflationary nature of SHR flowbacks and your holding incentives. How does these features benefit long term holders?

Communications Manager at ShareRing, Tim Kingery

The original ERC20 token we created years ago was not compatible with Uniswap and some of the bigger exchange’s deposit contracts. So the upgrade was necessary in order to enable these. I’m not aware of any bugs or incompatibility issues with the new contract.

Non-inflationary means we don’t pay our rewards out by inflating the supply as most proof of stake tokenomics do. We take fees from the customers operating the network to reward our users with, rather than printing tokens and diluting the supply.

Cryptodiffer Community

Why does the crypto token SHR still use blockchain Ethereum when it’s slow and high gas volume? You have plan to run mainnet or convert to other blockchain in the future?

Communications Manager at ShareRing, Tim Kingery

We’re on Ethereum mainly for trading and liquidity purposes, our mainnet token will be much more efficient. Our mainnet is up, you can check out our block explorer as the transactions ramp up

Cryptodiffer Community

Our advantage over the emerging big rivals in shopping and delivery spaces, i.e. Google, Facebook, Amazon, etc?Especially related to the US and European markets.

Communications Manager at ShareRing, Tim Kingery

Amazon and those larger brands want to own those businesses and take large cuts as intermediaries. We are designed to be whitelabeled and integrated into other businesses or platforms as easily and cheaply as possible.

Cryptodiffer Community

Our advantage over the emerging big rivals in shopping and delivery spaces, i.e. Google, Facebook, Amazon, etc?Especially related to the US and European markets.

Communications Manager at ShareRing, Tim Kingery

Amazon and those larger brands want to own those businesses and take large cuts as intermediaries. We are designed to be whitelabeled and integrated into other businesses or platforms as easily and cheaply as possible.

Cryptodiffer Community

You told people dont have to know about blockchain. do you have any plans to spread shr usage? like spending on amazon or any other sites easily??

Communications Manager at ShareRing, Tim Kingery

All of our products are designed with ordinary users in mind. We want to bring the benefits of blockchain to as many people as possible without requiring them to learn anything about bitcoin, private keys, etc.

Cryptodiffer Community

ShareRing uses a multi-token mechanism. What prompted you to choose this approach? What is the utility of SHR and SHRP tokens within your ecosystem?

Communications Manager at ShareRing, Tim Kingery

SHRP is needed to handle the payments and FX side of things, SHR is needed to handle our rewards and maintain our network. SHRP is better suited as a payment medium as it is stable, unlike SHR which is dictated by the market supply/demand/transaction vol.

Cryptodiffer Community

The governments of some countries consider Blockchain as “the development of a country”! So, since ShareRing is a blockchain of modern technology. Do you think that governments will take the services of ShareRing for the development of their country?

Communications Manager at ShareRing, Tim Kingery

Some of our products are specifically geared toward partnership and collaboration with governments, so yes this is definitely a focus of our sales team. Many countries have expressed an interest in upgrading their infrastructure, especially in travel and ID applications. We’ve got our foot in the door with Thailand and have been speaking with others.

Cryptodiffer Community

ShareRing services are coming to countrys like Spain soon?

Communications Manager at ShareRing, Tim Kingery

Our initial focus is in the ASEAN region, but yes, beyond that we intend to make this widely available to other countries, including Spain

Cryptodiffer Community

Can we use SHR wallet for hold btc or other currency?

How strong your privacy?

Like google athenticator, phone verification & finger print option all available?

Communications Manager at ShareRing, Tim Kingery

Our wallet will hold a variety of currencies and cryptocurrencies, we have several blockchain partners integrated already and will likely integrate more in the future.

Our privacy (and security) is top notch, and one of our main USPs, I strongly recommend reading more about our unique ID and data verification methods.

Cryptodiffer Community

When will the block explorer be live (as we have mentioned your 500k daily txs tweet and an influencer couldn’t believe the number and said it’s fake. When will collab wechat app be available?

Communications Manager at ShareRing, Tim Kingery

Our (beta) block explorer is up! Check it out! https://explorer.shareri.ng/ 

As far as WeChat, I don’t have any answer for you there

Cryptodiffer Community

Why did you choose Tendermint Framework for ShareRing blockchain? What features did ShareRing get using Tendermint?

Communications Manager at ShareRing, Tim Kingery

Tendermint was one of the best framework solutions for what we planned to build. However, on it’s own it lacked many of the advanced features we needed, so over 60% of the code is our own for our proprietary ShareLedger blockchain. Tim would have to speak more on what all features were missing, but unless you see them in other Tendermint projects, I’d say we likely built it.

Cryptodiffer Community

Where can I buy the $SHR token? is already listed in the big marketplace for #ShareRing.

Communications Manager at ShareRing, Tim Kingery

A list of exchanges is in our main channel (https://t.me/ShareRing) pinned message, we are available in all markets globally from some of the biggest exchanges and well-recognized names in crypto.

Cryptodiffer Community

Any update on your discussion with 10 separate governments?

Close to NDA??

Communications Manager at ShareRing, Tim Kingery

I’d like to share more but large companies and especially governments are extremely sensitive about discussing these matters before they are ready to publicly announce. Unfortunately we cannot share many details until this happens, even though we’d love to share our excitement.

Cryptodiffer Community

How many ShareRing ID accounts are there today? How many

Communications Manager at ShareRing, Tim Kingery

Today I don’t have an exact number, as most would be the result of our Shop and partner product testing. By the end of 2020 we were shooting for around 100,000 ShareRing IDs, and with a little help from our community to get the ball rolling, we may still get there, or sometime shortly after. We’ll have a promotion to help kickstart things and reward those who help expand our community.

Cryptodiffer Community

Q1. The travel industry seems to be a crowded yet fragmented market. I am glad to know that there is ShareRing, a noble project that aims to take the hassle out of travel by streamlining processes and fusing a highly fragment market using blockhain technology.

However, there is a large misconception among a lot of people outside the crypto space about blockchain. For many, blockhain is an intimating concept, one that requires advanced or special knowledge. 

How does the team plans to tackle this major challenge towards mass adoption? Also, how does the teams plans to deal with the regulatory requirements which may vary from city to city and country to country? 

Q2. The travel industry is heavily and adversely affected by the pandemic. In fact, it is one of the most severely hit industry and considered by many to be the last one to recover as well.

A lot of companies closely related to travel have closed, many attractions have been restricted and a lot of people have also lose their jobs. 

If another pandemic will happen in the future, (no one wishes for this to ever happen again but we do not know), how does the ShareRing Team foresee and prepare for such scenario?

Communications Manager at ShareRing, Tim Kingery

All of our products are designed for those with zero experience or desire to learn about blockchain.

We design all our products and services with regulatory compliance in mind.

Several of our products are designed to restore travel and normalcy despite COVID, including our World Open Passport (COVID pass), and Shop. If there is another lockdown scenario, we are better prepared now to help small businesses stay open and keep shoppers safe.

Communications Manager at ShareRing, Tim Kingery

Okay guys, I think that’s all we’re going to get for today!

Want to give a huge thank you to everyone for attending, and CryptoDiffer for hosting us!

I know I didn’t get to everyone’s questions, but I do invite you all to visit our community at https://t.me/ShareRing where our awesome community members will be more than happy help 🙂

Cryptodiffer TEAM

Thank you for your time! Great answers!

Thank you everyone who took part today!

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CryptoDiffer Admin
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