1. What drawback is your ICO venture addressing?
One of many key elements in making certain adoption of customers on the “Share Internet Data” platform, or SID for brief, incentivizing by paying them for the Megabytes of web they share. Whereas most individuals are fairly pleased to share web they obtain at no cost, from public hotspots, they’re much more reluctant to share their residence Wi-Fi or their very own Cellular web until they’re paid for it.
The typical quantity required for a Consumer to learn his chats and emails, excluding movies, is round 10 Megabytes. Aggressive costs as a typical benchmark go round 1 Gigabyte for 1 EURO / 1 $US. Subsequently, to pay a SID consumer who shares his/her web means to pay him/her 1 Cent EURO / $ 1 cent at minimal. As there isn’t a bank card firm or financial institution that’s prepared to supply API entry and make hundreds of thousands of transactions for that small quantity (as a result of their value & margin is larger than the quantity to be transferred) we provide our SID answer based mostly on blockchain know-how making this attainable.
2. What makes blockchain the perfect know-how for fixing this drawback?
It´s not a lot why blockchain is right however moderately the normal monetary methods are unable to deal with our requirement of tens of millions of transactions within the order of magnitude of $1 cent, clearing it in a matter of seconds and making it out there to the recipient account for a negligible value.
Sadly, even within the present blockchain business most well-known blockchains like Bitcoin and Ethereum additionally fail to ship on these primary two parameters: (i) hundreds of thousands of transaction valued of round $1 cent at negligible switch value, (ii) constant system switch speeds of the order of seconds additionally at a negligible switch value.
Fortuitously for SID our due-diligence on Stellar handed with flying colours. The Stellar Blockchain offers greater than adequate capability for a lot of hundreds of thousands of transactions at a price of roughly $ 1 cent per 100 thousand transactions and this persistently in a matter of seconds. Notice : our personal testing confirmed between 2 and four seconds.
three. Which key markets, industries or purposes will profit from the scalability of your know-how or platform and the way?
The SID market alternative is very large, as it’s combining each the smartphone and the Wi-Fi markets multi functional.
Some market knowledge: In response to Statista, Smartphones numbers are outperforming public Wi-Fi hotspots by 5.3B to zero.279B which means by greater than 18 to 1. These figures clearly present the significance we give to Share Web Knowledge (SID) by means of smartphones as being the core of our SID platform know-how accessed by means of our SID APPs and thru our future business clients SDKs.
What SID know-how is doing is enabling so as to add to the prevailing 279 Million present international public Wi-Fi hotspots a possible staggering 5.three Billion shifting hotspots on demand (which means smartphones and tablets). That market alternative already exists now in 2018 and is predicted to maintain on rising!
Add to that the truth that nonetheless to-date globally, round four billion individuals nonetheless haven’t any web entry. There’s nonetheless 20% of the inhabitants with out common web entry in Europe and North-America, 53% in Asia and a staggering 65% in Africa. That along with the earlier, exhibits the huge market potential: SID can carve an element out of those potential customers and fulfill its mission to carry a sure phase of the 500 million individuals out of poverty by means of web provisioning, offered enough funding may be raised and allotted within the coming years.
four. What makes ICO or ITO the easiest way to boost capital in your blockchain firm?
Just lately the normal funding group (VCs, Hedge Funds, people) have gotten a wealth of knowledge from the previous few years of ICOs/ITOs. Particularly, as to the statistics in success-rates from seed capital to MVP and extra capital from MVP to business product launch. Lastly, within the final yr seeing precise return from a number of the business launched merchandise to firm progress and income creation. Clearly the figures aren’t so totally different from when the VCs and Hedge Funds began many years in the past, so they’ll are available slowly, more than likely initially solely into people who want progress funding. With ICO/ITO firm failures additionally beginning to kick-in after the final growth years of ICOs/ITOs, it´s no shock that the majority particular person buyers who misplaced loads of their contributions worth are spooked to say the least. This implies an enormous clear out will occur in corporations looking for funding and the cream of
the market might be taken on by VCs as an alternative of particular person buyers.
As for SID particularly, we see that development is already kicking in with LDJ Cayman Fund, a VC with ties to blockchain corporations contributing into SID fundraising.
As a quote from a well-known TV present “Winter is coming!”, nicely… within the ICO/ITO area “Winter” has already arrived. Those that can survive the present ICO/ITO bear market fundraising circumstances will see the “Summer” bullish years to return. These at present in ICO/ITO course of who will record on a token trade all through the primary half of 2019, I consider lots of these, may probably experience the subsequent wave of crypto currencies and tokens valuations progress cycle based mostly on extra strong foundations.
5. What is exclusive about your token or coin that may encourage mass adoption and why?
The Blockchain enabled SID platform, powered by Stellar, goals to permit free web entry to all regardless if they will afford to pay for it or not. SID will in future allow customers to eat ads and earn SID tokens. Think about getting paid for utilizing the web! The SID micropayment system that’s based mostly on the Stellar Blockchain may have the power to conclude transactions between SID App customers, in a matter of seconds, taking future cellular e-commerce to the cell phone of SID customers.
This know-how has the potential to shake-up the prevailing telecommunications business because it converts every cellular consumer into a possible web supply for different SID customers.
SID platform customers will probably be in a position promote extra bandwidth to others on the SID platform and may open the digital e-commerce even additional. This can really present the citizen of the world with the power to take pleasure in their primary human proper of entry to web, scale back international poverty and scale back the digital divide.
6. What’s the major problem your platform is dealing with proper now?
One of many challenges for long run success is making certain that the SID platform turns into know-how agnostic which suggests the least depending on third social gathering know-how. One dependency that may all the time stay is that of Android and iOS working techniques. It’s in end-users palms for greater than 95% of all smartphones and tablets worldwide and more likely to proceed for fairly a while. SID blockchain know-how is aiming to have a transparent system interface between the blockchain a part of the platform at present being Stellar and the remainder of the SID platform which means the utility artwork of the platform.
Because of this if sooner or later a special considerably higher blockchain know-how would come alongside, a change of backend interfacing from one blockchain to a different signifies that tokens have to swap from one blockchain to a different however aside from that, SID customers wouldn’t discover it from a consumer interface (utility) perspective. This final would convert a technical matter right into a advertising matter. Our purpose is that Customers can perceive SID with out having any or very restricted information of blockchain know-how.
7. What’s the largest win that your workforce has achieved to date?
The primary win was in the summertime 2017 once we demonstrated the “proof of principle” (often known as MVP on this business). Proving to ourselves that the core know-how described within the 1st pending patent really labored. By far the most important win was the completion of our third get together venture with Dunkin Espresso thus having a serious third get together model validating our core know-how with our SID – SDK inside their APP in business launch to all their customers. We’re additionally completely delighted that a number of the most outstanding specialists in tech and ICO area have agreed to hitch our Board of Advisors. I see this as a dedication to our know-how and general mission: To convey a sure phase of the 500 million individuals out of poverty by way of web provisioning, in different phrases give them entry to schooling.
eight. What’s the greatest recommendation you might have acquired from a number of of your advisors and why?
When measuring the most effective recommendation with probably the most impression to the workforce, this was the perfect one: “In current market conditions lower your short term fund-raising expectation without lowering your long term company expectations!” This mind-set had an enormous influence on our useful resource focus. As an alternative of specializing in the unique Onerous-Cap that must be tailored to the present market circumstances, give attention to utilizing the Mid-Cap as the brand new Onerous-Cap goal at $15 million. Then re-focus on attaining the identical long run objectives with much less brief time period funding (crypto/fiat) via partnerships with different ICO/ITO corporations. That technique will be sure that SID might be funded for the long run over the subsequent 2 years, as an alternative of making an attempt to boost these long run funds in a matter of months which was the norm till lately in ICOs/ITOs. By doing so, we gained 2 years of time to realize long run success and to boost the delta to the unique previous Exhausting-Cap over the subsequent few years. This strategic transfer by no means compromised the corporate’s long run targets.
It was an eye fixed opener and proves that the fitting recommendation from skilled business Advisors can have a strong influence.