The CosmWasm integration is the first of many further planned steps that ShareRing, a blockchain-enabled digital identity ecosystem, will take to “advance toward accomplishing the aim of offering frictionless access to products and services.”
According to reports, this connection “results in smart contract capability, increased cross-chain interoperability, and better freedom in creating smart contracts on ShareLedger.”
The ShareRing team will release a series of improvements on CosmWasm, Smart Contracts, and ShareLedger during the next four weeks. This most recent update, the first of six, is a quick introduction to ShareLedger’s integration of CosmWasm and ShareRing’s path towards a “frictionless, secure digital future.”
When offering access to products and services, Web2 emphasized centralization, ease, and adaptability. The environment was “riddled with privacy, security, and control flaws, as well as
fragmented.”
ShareRing seeks “to establish ShareLedger as the option for Web3 developers to simplify access to products and services, while minimizing the friction that presently exists in a web2 world”
CosmWasm is the first step toward their larger objective of decentralization, which is “to allow frictionless access to products and services.”
Now, not only can developers “create their immutable and irreversible smart contracts into ShareLedger, but CosmWasm guarantees chain agnosticism and enhanced interoperability across smart contracts since they may execute on various chains.”
Benefits of this new feature include:
As said, ShareRing’s mission is to eliminate “friction” around the globe, and digital identities may “help achieve this”
Tim Bos, CEO of ShareRing, commented (earlier this year): “Over the years, there has been a tendency for major organizations to store more and more information about you in their data warehouse in order to provide you with a ‘better service.’ But as a user, you must still provide all of your personal information whenever you sign up for a new service. And all too frequently, a hacker acquires access to this information and discloses (or sells) it.”
