VeChain Foundation has just struck a new deal to enhance the adoption of its native token VET. The non-profit foundation entered into a partnership deal with ShareRing, a travel app built on a distributed ledger technology.
Via the partnership, ShareRing will integrate VeChain’s VET on its platform, allowing holders of the cryptocurrency to spend their assets in 2.5 million hotels in 190 countries and 1.2 million Cars in 150 countries across the world.
Also, VET would be usable as a payment option for activities like eVOA (Electronic Visa on Arrival) in Thailand, flight, Insurance, tours and a huge range of some other activities, a report has said.
VET holder would begin to enjoy these services as soon as the cryptocurrency is integrated on the platform on February 8, when ShareRing launches its mainnet.
🎩Hello #Vechainers! Welcome to ShareRing. Are you guys ready to #TravelwithVET? @vechainofficial @sunshinelu24 @VechainThorCom#Blockchain #BlockchainCompany #Travelapp #Travel #Cryptocurrency #Vechain #Vechain $SHR #ShareRing https://t.co/oN7Q9ZupKc
— ShareRing (@ShareRingGlobal) February 4, 2020
VeChain Foundation greeted the announcement with excitement, saying all thanks is due to its strategic partner CREAMethod who ensured the successful integration.
VeChain and ShareRing share the same value in the sense that the latter’s mission is to ensure transparency and decentralization through blockchain technology, and VeChain offers a similar solution.
Another great benefit VeChain would enjoy through the partnership is the adoption from over 20 million travelers from 20 countries every year. ShareRing is one of the two companies approved by the Thailand immigration department to manage the eVOA program.
Did you know, there’s only 2 companies approved by the Thai Immigration Department to manage the eVOA program. 🙄
— ShareRing (@ShareRingGlobal) November 11, 2019
According to the release, it was said that CREAMethod reached out to ShareRing for the integration of VeChain after hearing about the latter.
“VeChain is a perfect match for the ShareRing ecosystem, in which VET owners now will be able to use services across the world in a trust-free way,” the CEO of CREAM, Jackson.
Already, VeChain’s traceability solution has made great inroads across the world. More than 30 Fortune companies and 500 firms are running live Dapp on VeChain. Also, Italian top three wine producer has adopted VeChain and Addidas is also using the traceability solution of the blockchain network to fight against counterfeiting.