Blockchain platform ShareRing is aiming to become the Amazon of the sharing ecosystem by making it easier than ever before to share anything, anywhere, at any time. In my previous article I gave a brief introduction to ShareRing’s collaborators, explaining how each of them will help the ShareRing platform on its way to sharing ecosystem predominance. This time around I will introduce ShareRing’s startup incubation system, and why it will be crucial to giving ShareRing the edge in terms of user adoption, investor interest, and more. Read on.
As we move further into 2018, cryptocurrency observers are noticing a shift from the 2017 embryonic stage of blockchain startups — where practically every new idea was destined to succeed and radically alter the tech landscape — into a more mature stage in which only the strongest projects will survive. Those without substance and real-world value will find it increasingly difficult to flourish. For this reason, investors are now focussing on projects with strong use cases and solid plans for promoting adoption and expansion.
There is clearly no doubt that the ShareRing platform has a strong use case: it will provide one simple method to access the global sharing economy. In terms of adoption, ShareRing already has its first client lined up: the highly successful Keaz asset lending platform. And there’s many more in the pipeline, with over 200 providers to be on the platform at the time of launch.
ShareRing’s startup incubation system is another key factor which will help guarantee the adoption and expansion of the ShareRing platform. According to their white paper, ShareRing have set aside 30% of their funding for setting up ‘incubators’ and bonuses that will contribute to 3rd party product integration with the platform.
In relation to this, ShareRing recently held their first “Pitchfest”, in which creative entrepreneurs were asked to submit their ideas for a business concept which had not yet been developed into a business, and which is suited to the sharing economy. The two winners were flown to Hong Kong where they presented their ideas at the ShareRing launch party on May 3.
Nina and Math’s idea is called “ShareRing.Works”. It will be the world’s first and only co-working space where you can learn, work, and share any equipment and services powered by ShareRing.
Ilya and Max’s idea is called “CookLikeChef”, with the main goal being to reduce waste and increase efficiency in the food-processing industry, whilst lowering capital entry barriers.
As winners of the first Pitchfest, each team will also benefit from the following:
- Support from ShareRing to further develop their idea
- If their idea reaches sufficient business maturity, ShareRing will put their business on the ShareRing platform when it launches in Nov 2018
- Once the business goes live on the ShareRing platform, ShareRing will award each team 1 million ShareRing Tokens on the ShareLedger
- ShareRing will consider investing directly in the business
In addition to creating once-in-a-lifetime opportunities for budding entrepreneurs, this is also a business masterstroke by ShareRing. Through this startup incubation system, ShareRing are ensuring there will be a number of businesses with fresh ideas and new energy on the ShareRing platform around the time of launch. And they won’t just be any businesses, they will be selected on merit and nurtured by the ShareRing team. This together with ShareRing’s heavy focus on business-to-business solutions paints a very positive picture for the quick adoption and growth of the platform, and in turn investor interest.
You can follow ShareRing’s progress on their Facebook page or chat with the team directly in their Telegram channel. Their announcements channel is also a great way to stay on top of new developments.
