ShareRing’s purpose is to remove “friction” throughout the world, and digital identities is a vehicle that can “help accomplish this.”
Tim Bos, CEO at ShareRing, stated:
“Over the years, there’s been a trend for large companies to host more and more data about you in their data warehouse, for the purpose of providing you with a ‘better service’. But as a user, you still need to give all of your 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.”
These data security/privacy issues pose one of the primary problems that ShareRing strives to solve; “an issue that has arisen in the Web2 era of the internet which has led to the loss of autonomy on our personal data.”
Without the ability to manage your digital identity and footprint, “your rights to privacy and ownership of data are at the mercy of 3rd parties.”
Self sovereign data has been at the “core” of ShareRing‘s philosophy, ever since its founding, and with the “reimagining” of the ShareRing brand and website, the firm claims it is now placed at the “forefront” of how ShareRing envisions frictionless access with digital identities for Web3 and the modern citizen.
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 of this available inside the ShareRing app.”
Their new branding and website is a reflection of ShareRing’s vision “for a world built on trust, where digital identities provide frictionless access to services and goods in a verifiable manner.”
ShareRing’s products and features are now also housed under four product pillars, namely:
- Access Services
- Utilizes one’s ShareRing ID and Vault “to grant a user access to services, for example eKYC with financial institutions, or accessing events with NFTs.”
- Current available products: eKYC, Access Events, Access Events with NFTs
- Features being explored: Access Premises, Website logins
- Digital Lifestyle
- Novel and innovative developments that utilize one’s ShareRing ID and Vault.
- Current available products: NFT Space
- Features being explored: Website logins
- Foundational
- This covers the technology underlying ShareRing
- Current available products: ShareRing App, Staking, Swapping, Document issuance
- Technology Currently in place: ShareLedger blockchain, Facial recognition, Optical Character Recognition, Ai learning
- Features being explored: Zero knowledge proof
- Merchant Services
- Not yet available. More info to come as products become available.
According to the platform’s developers, here’s what you may expect from the update:
- ShareRing’s take on digital identities and self sovereign data
- ShareRing’s approach to removing friction in the world via digital identities
- Information on ShareRing’s product ecosystem
- You can download the ShareRing App on iOS or Android devices
- Examine the ShareRing beta program
- Upcoming: A knowledge hub on blockchain and cryptocurrency
- Upcoming: A dedicated news blog for ShareRing