The Vechain Foundation partnered with the ShareRing ecosystem which will integrate the VET token on its platform. This will enable the platform to be used in 2.5 million hotels across the world and for 1.2 million vehicles in 150 countries so let’s learn about the new partnership in the Vechain VET news today.
VeChain is a public blockchain that is already used by more than 30 of the Fortune 500 companies including BMW, LVMH, Walmart and PwC. It is designed to serve as the foundation for a scalable business and a sustainable ecosystem with low barriers between companies and blockchain technology. With ShareRing, the VET token found another useful purpose.
The VeChain foundation partnered with ShareRing since it is an ambitious blockchain startup that plans to provide a holistic solution for businesses and consumers to unite and to bring together a fragmented economy by bringing together common services across the industries. ShareRing’s decentralized marketplace will allow the users to access, connect and pay for the services across the world. The rental services often receive immediate payments without the currency conversion fees at a very low transaction fee level. ShareRing is in its final stages of development according to the announcement and the app will provide geo-localizing service that will display the sharing services for the users in the local region.
ShareRing also has the OneID solution so the consumers will have to file an ID submission and the entire submission process will only take a few minutes. The OneID module allows the merchants to verify a customer’s identity via its hash verification which eliminates the need for merchants to view personal information. This protects the merchants and users from fraud. ShareRing’s features allow the applicants to apply online and to obtain the travel authorization before leaving so the eVOA feature can even be presented at immigration counters in Thailand upon arrival at the airports.
The OneID system will become underlying in Thailand’s electronic eVOA system and the new Visa system eliminates a lot of the troubles involved in entering the country, in addition, to bring an estimated 10 million users to the platform in the first year. As per the recent reports at DC Forecasts, VeChain’s Thor blockchain is being used by Walmart China for easier product tracking.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post