VRING

ABOUT VRING

VRING is a revolutionary cryptocurrency that enables the issuance and trading of C2C Business.

Business philosophy

VRING envisions a world in which everyone can engage in communication and exchange freely and equally by trading a wide diversity of things essential to human life.

Blockchain

VRING is a blockchain-based platform that facilitates the exchange of values between participants. This online and mobile platform enables all users to exchange something of value with one another, including goods, services, information, content, and rental equipment

VRING Pay

VRING Pay or VRING Wallet is a payment system of the VRING platform based on digital assets using blockchain technology and provides a global payment system for users of the VRING platform to engage in active economic activities in a new virtual world..

C2C

1. peer-to-peer payment system
2. A purely distributed for sharing economy
3. Respects and encouranges user to generate and exchange new and diverse values
4. Promotes an economy of sharing and cooperation and not of monopoly and competition

Smart Contract

VRING will support the smart contracts and Ethereum conversions of e-commerce businesses, and will be designed so that other smart contracts and dispersion applications can be converted into the VRING Chain without changing the coding.

Safe

The security of intangible securities and liquid assets is as important as fast consensus to effective transactions on electronic platforms. ARC will apply an anomaly detection technology to detect and prevent signs of anomaly in advance.

Low Fee

VRING will charge only minimum fees necessary to promote businesses’ participation in the VRING ecosystem and help them protect their profits.

C2C

P2P payment system

As a P2P payment system between users, it is a truly decentralized and structured sharing economy system that respects all the values of users and creates new values, resulting in a sharing and cooperative economic system rather than monopoly and competition.

SNS Service

N:N transaction matching system

Content centered on human communal economic activities. N:N transaction matching system, establishing KS relationships based on economic transactions.Socialization and entertainment elements.

Block chain

Innovative implementation methods for C2C business.

Innovative implementation methods for C2C business. Trust in institutions and systems. Diversity of platforms and algorithms. Self-trust between P2P individuals. Validity, reliability, and practicality of transaction value standards.

MARKET

MARKET BACKGROUND AND PREDICTION

In recent years, the C2C market has been growing and changing rapidly.

From simply selling and buying used products in the past, the market is now dominated by second-hand transactions that resell luxury or limited edition products.

According to the Korea Internet and Security Agency’s Bonsai Coordination Support Center, the size of the second-hand market has increased about sixfold from KRW 4 trillion in 2008 to KRW 24 trillion in 2021.

C2C is a way for consumers to sell their goods to other consumers. This is done in a space with similar hobbies and tastes.

In addition, consumers’ perception of second-hand or C2C transactions has changed. Unlike second-hand transactions in the past, where old and outdated items were sold at low prices, today’s second-hand transactions have increased the number of unopened and unused products.

Overseas, second-hand trading systems are already commonplace. According to the Hana Financial Management Institute, the global second-hand market is expected to grow from $27 billion in 2021 to $77 billion in 2025 (about 98 trillion won).