The complexity and lack of familiarity with blockchain/cryptocurrencies have made onboarding mainstream users to the crypto space one of the industry’s most formidable challenges. While this industry has produced many impressive and innovative solutions, the average person has little (if any) contact with blockchain on a daily basis.

ShareRing is helping to change that in a big way. Our OneID system is scheduled to become the lynchpin technology in Thailand’s Electronic Visa On Arrival (eVOA) system.

Since the introduction of the eVOA System, there have been over 30-40 eVOA Providers on Google selling eVOA related services. It is important to note, however, there have only been two eVOA Partners working with the Thai Government in-relation to the eVOA System. This means that most of the providers we see today are resellers only, meaning they receive a small fee to help process eVOA on-behalf of their eVOA Partner.

By having only two eVOA Partners working with the Thailand Government to provide the critical back-end infrastructure to the highly sought after eVOA System. It has resulted in a large number of startups and companies willing to partner with eVOA Partners to offer reseller services. In the context of ShareRing, we plan to provide the core technology stack (backend infrastructure) that will be used by one of the two eVOA Partners.

The new eVOA System introduced by the Thailand Government eliminates much of the hassle involved in entering the country:

“In order to speed up the visa approval process, the Government of the Kingdom of Thailand has implemented a Thailand eVisa on arrival online. The Thailand Online Visa is an electronic travel authorization which is intended to allow citizens of eligible countries to enter Thailand mainly for tourism purposes

“By allowing eligible citizens to apply online for a visa before traveling the new process vastly simplifies the procedures to enter Thailand. The approved eVisa for Thailand will then be sent directly to the applicant by email.”

This is a strong validation of ShareRing’s OneID System – immigration controls are some of the most scrutinized processes in any branch of government, and if the OneID solution can operate to their standards then it is truly business-ready.

“We are providing our OneID product for Thailand e-VOA (Visa On Arrival) that allows 5 Million + travelers from 20 countries including China and India to complete the visa process on their mobile through our app. This provides a streamlined immigration process that negates the need for an expensive and time-consuming process when you get off the plane. Additionally, fraud is mitigated with several extra layers of security in the back end including our blockchain (ShareLedger) consensus model that makes all data immutable and all but impossible to hack.” COO, Rohan Le Page

Big numbers

Thailand is one of the world’s main tourist hotspots, with over 38 Million Travellers visiting Thailand in 2018.

The eVOA is available to 20 different countries’ citizens. It is intended for those who will be holidaying in Thailand and not working in the country. The key target market ShareRing will initially focus on is China and India, two of the largest populated countries in the world.

The biggest benefit of a eVOA compared to a regular tourist visa is that the user saves two trips to the VFS office, get their eVOA instantly at home with online payment and enjoy a dedicated fast lane instead of waiting in long lines at the border.

Network effects will be the key to ShareRing’s fortunes. This is why this partnership is such a breakthrough: It will, at a large scale, allow people to use OneID.

From China alone, almost half a million travelers per quarter traveling to Thailand require visas. This is also a region where blockchain technology has shown the most interest level from the public. With this partnership, ShareRing will gain a route to a very large and receptive market worth potentially hundreds of thousands of users per month.

According to internal research and projects irons, around 80% of expected eVOA recipients will be Chinese. We believe ShareRing is well placed within this market and aims to be one of the most influential players in the crypto ecosystem in the near future.

ShareRing’s secret to landing this partnership was the streamlined and user-friendly onboarding process that the OneID App offers. We are all familiar with the cumbersome and time-consuming KYC-AML hoops that one must jump through during many signup processes, which often take a matter of days or longer. OneID is designed to be the opposite of that: speedy user data collection, agile and secure.

As the crypto ecosystem expands, we can expect opportunities like this to present themselves regularly. ShareRing’s game plan is to position itself to capitalize on as many of these as possible.

Learn more about ShareRing in 2 minutes!

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