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ShareRing Enhances Digital Identity Solutions by Merging ShareToken

To make sharing easier, ShareRing- a blockchain-based ecosystem providing digital identity solutions, has merged ShareToken (SHR) into the Ethereum and Binance networks through Multichain swap.

Users will have the opportunity to swap SHR, ShareRing’s native token, between Ethereum and BNB Smart Chain. Per the announcement:

“For those who have been holding BEP20-SHR, you are now able to swap it over to ERC20-SHR, and subsequently use the ShareRing App to swap your ERC20-SHR into SLP3-SHR.”

As one of the user-focused blockchain ecosystems, ShareRing allows the sharing, verification, storage and issuance of personal information and key documents.

ShareRing places great value on privacy and data ownership. They have built their own blockchain, ShareLedger, which uses technology from Tendermint. The report noted:

“Holders of BEP2-SHR can use the swap function inside Binance Wallet to swap from BEP2 to BEP20.”

ShareRing’s digital identity solutions have come in handy when revamping different sectors. For instance, the firm works with Chinese tech giant Tencent Holdings to deploy a blockchain-powered digital document and identity management solution to stimulate the travel sector, which is among the hardest hit by the COVID-19 pandemic.

As one of ShareRing’s main products, eKYC enables financial institutions to handle KYC processes faster and more efficiently. This allows customers to flexibly give and take consent for data sharing, supported by the blockchain on a decentralized platform. A Caribbean Credit Union has already tested and adopted it with success, and it ensures personal ownership of data and privacy, which highlights its potential for other financial organizations.

ShareRing is distinguished by its decentralized process, which places full control in the hands of the user, limits liabilities for businesses, and vastly improves convenience through the use of digital identification.By offering blockchain-powered identity management frameworks, ShareRing enhances privacy, accuracy, and efficiency.

ShareRing Integrates New Website with Blockchain-Based Digital Identities

To tackle the challenge of the loss of autonomy on personal data experienced in Web2, ShareRing has launched a new website with blockchain-powered digital identities that will usher in the Web3 era.

The lack of the ability to manage digital identity and footprint in Web2 has been the primary stumbling block to safeguarding privacy and ownership of data.

Tim Bos, the CEO of ShareRing, acknowledged:

“Over the years, there’s been a trend for large companies to host more and more data about you in their data warehouse to provide you with a ‘better service.’ But as a user, you still need to give your entire personal information to a new company every time you sign up with them. And far too often, there’s a hacker that gains access to, and leaks (or sells) this information.”

ShareRing, a blockchain-based ecosystem providing digital identity solutions, seeks to remove this friction through a verifiable digital identity. Per the announcement:

“With ShareRing, users can create their verifiable digital identity (ShareRing ID), store their credentials and assets inside the ShareRing Vault, and manage their digital footprint; all available inside the ShareRing app.”

Therefore, ShareRing sees the new website as a stepping stone towards creating a world built on trust whereby digital identities will provide frictionless and verifiable access to goods and services.

The website will also provide more insights about self-sovereign data, with plans underway for a knowledge hub on blockchain and cryptocurrency.

To make sharing easier, ShareRing recently merged ShareToken (SHR) into the Binance and Ethereum networks through a Multichain swap, Blockchain.News reported.

Therefore, ShareRing has emerged as one of the user-focused blockchain ecosystems because it allows the sharing, verification, storage, and issuance of key documents and personal information.

ShareRing Adopts NFC Technology to Enhance eKYC Solutions

ShareRing, a blockchain-based ecosystem providing digital identity solutions, has integrated near-field communication (NFC) technology to make the electronic know your customer (eKYC) process more secure and reliable.

Per the announcement:

“NFC technology ensures that ShareRing IDs created with an e-passport have a high confidence level of attestation and trustworthiness since these are issued by a government body.”

The report added:

“It also reduces the likelihood of inability to extract the correct information from a document such as a passport since the information extracted from a chip is more reliable and trustworthy.”

Since ShareRing is a user-focused blockchain platform, it permits sharing, verifying, storing, and issuing personal information and key documents. Therefore, the NFC technology will come in handy for verification purposes. As a result, ShareRing will have more robust eKYC solutions. Per the report:

“NFC will be the future standard for ID cards for some time and therefore is supremely convenient for customers who already have NFC readers in their pockets. It, therefore, provides an excellent method for customers to process their ID documents during eKYC.”

As one of ShareRing’s main products, eKYC enables financial institutions to handle KYC processes faster and more efficiently. This allows users to flexibly give and take consent for data sharing, supported by the blockchain on a decentralized platform.

Meanwhile, the blockchain platform has updated the FaceMatch feature to enhance the face detection success rate. ShareRing pointed out:

“When new users sign up for a ShareRing ID, an official government ID must be provided in addition to a live selfie feature using our own technology called FaceMatch. This feature detects the face from the document and compares it to the user’s live selfie.”

Earlier this year, ShareRing integrated its native ShareToken (SHR) into the Ethereum and Binance networks through Multichain swap for enhanced digital identity solutions, Blockchain.News reported.

ShareRing Rolls Out Skinny ID for Frictionless Blockchain-Based Digital Identity Solutions

ShareRing, a blockchain-based ecosystem providing digital identity solutions, has launched Skinny ID, aimed at offering a seamless and frictionless onboarding process.

Per the announcement:

“Introducing Skinny ID, ShareRing’s simplified sign-up process that removes friction on the onboarding journey and allows users to explore the ShareRing ecosystem without having to provide any government IDs.”

Being a user-focused blockchain platform, ShareRing enables the issuance, storage, verification, and sharing of personal information and key documents. The report noted:

“Previously, ShareRing’s initial onboarding journey added friction to users who were stepping into ShareRing for the first time, which went against our mission to enable frictionless access. It was a more extensive sign-up process that asked for at least one piece of government ID followed by a selfie scan using our face match technology.”

ShareRing’s blockchain-powered platform also enables financial institutions to undertake processes more efficiently and faster based on its electronic know-your-customer (eKYC) product, which presents users with the flexibility to give data-sharing consent.

ShareRing recently integrated the eKYC process with near-field communication (NFC) technology to make it more reliable and secure, Blockchain.News reported.

Previously, ShareRing launched a new website with blockchain-enabled digital identities to usher in the Web3 era to tackle the challenge of the loss of autonomy on personal data experienced in Web2.

Given that the lack of the ability to manage digital identity and footprint in Web2 has been one the primary stumbling blocks to safeguarding privacy and ownership of data, ShareRing intended to solve this challenge with the blockchain-enabled website.