Photo by Clark Tibbs on Unsplash

Recently, CEO and co-founder Tim Bos took to Twitter to participate in Shareables Twitter chat about ‘blockchain for good’. These are his answers:

In your perspective, what are the key elements of a #blockchainforgood project?

I think that a #blockchainforgood project must be one that has a measureable, positive impact on our community and our planet.

Are you currently working on a project that uses the blockchain technology? If so, please briefly describe the project in a line or two.

ShareRing are developing a 2-sided blockchain powered marketplace for the sharing economy. We are also developing a blockchain engine that allows anyone within the sharing economy to develop their own protocols and distributed apps for the sharing economy.

How do you see blockchain shaping how people share resources and information for the better?

That’s what ShareRing is all about. We are using blockchain technology to make it safer and more secure to share resources with others. This might be through peer to peer sharing, traditional rental, or through other channels that we haven’t even thought of.

What are some hurdles to public adoption of blockchain?

At the moment, most blockchain projects require some sort of crypto/blockchain knowledge. Blockchain projects will gain mass adoption when you don’t even know that it’s blockchain that you’re using. Blockchain will become invisible.

There’s been some concern around blockchain and energy use — do you have any thoughts or ideas on how groups using the blockchain can take an energy-efficient approach?

We need to move away from proof of work consensus algorithms as soon as possible. There are some very viable alternatives already available, so it’s important that the blockchain community focus on these newer technologies before we destroy the planet.

“Originally conceived as a peer-to-peer technology, the brunt of blockchain’s potential still lies in its ability to serve as the technological underpinning for the sharing economy,” @00AaronFernando wrote in ‘Blockchain as a force for good: How this technology could transform the sharing economy; What are your thoughts?

Blockchain technology is perfect for the sharing economy. By having an immutable data set, smart contracts and a number of other technologies, we can utilize blockchain technology to create a safer and more scalable environment for the sharing economy.

Do you have any additional questions or comments?

Thanks @shareable , great set of questions. It’s been fun to chat about #blockchainforgood.

Global Sharing Economy then asked: I’m happy this is in discussion. Tim, for @ShareRingCo what are the primary benefits for consumers utilizing your company’s platform that is powered by the Blockchain over traditional companies like Uber and Airbnb?

Single login for any sharing service, immutable reputation data for all sharing services, no FX fees, better data security (you control your own identity data). The marketplace also allows sharing services of any size to participate without giving up 20 to 40% of their margins.

What an awesome way to raise awareness of #Blockchainforgood!

Head over to Shareable’s blog to see who else participated and how they answered.