'Sharing Economy' Startup ShareRing Tapped for China's Blockchain Service Network

A provider of an ecosystem for the "sharing and rental economy," ShareRing will join China’s government-backed blockchain initiative.

AccessTimeIconSep 16, 2020 at 2:00 a.m. UTC
Updated Sep 14, 2021 at 9:56 a.m. UTC

ShareRing, a blockchain-powered platform for the “sharing economy” pioneered by the likes of Uber and Lyft, was picked to join China’s state-backed blockchain initiative, the Blockchain Service Network (BSN). 

  • According to a press release emailed to CoinDesk, ShareRing has developed a custom blockchain-enabled platform that can help integrate services such as travel, insurance, logistics and marketplaces into one shared platform. 
  • The firm’s press release said in partnership with BSN, ShareRing will work to reduce barriers to entry in the blockchain services sector by helping businesses and developers deploy the firm’s enterprise-ready sharing ecosystem, which it claims can help lower the time and cost associated with integrating blockchain into traditional platforms. 
  • ShareRing CEO Tim Bos said that the firm's initial focus shall be to expand the ShareLedger testnet and mainnet nodes and validators to run within the BSN. "We already have some nodes running in the BSN, now we are focusing on making our technical documentation available so that developers and enterprises can leverage ShareLedger and our API’s for their projects," he said.
  • China’s Blockchain Service Network announced earlier in July it had integrated six public blockchains onto its network including Tezos, Ethereum, NEO and IRISnet, thereby enabling developers on these blockchains to build decentralized applications (dapps) and run nodes using data storage and bandwidth from BSN’s overseas data centers. 

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC