Social Wallet ICO - This is one to watch.
Social Wallet are currently conducting their ICO (initial coin offering - see https://sale.socialwallet.io) for their crypto WIRE. Full disclosure - I have bought some.
If you're not familiar with it, I reckon it's one worth checking out. See their website https://socialwallet.io
I read the White Paper for Social Wallet a few days ago (https://socialwallet.io), and I have been pondering the possibilities.
Essentially, Social Wallet is a blockchain designed to enable financial transactions (WIRE) over social media accounts and email.
If you just glossed over that, take a second to think about it.
Social Wallet is a blockchain designed to enable financial transactions (WIRE) over social media accounts and email.
So, WIRE can be purchased (presumably through an exchange - more detail on which exchanges you have lined up would be great, team) or received through FB or Twitter or by email (and seriously, only my mum doesn't have email now), and then sent to anyone you want via the social media platform of your choice. Or by email. This can happen in pretty much real time. No waiting.
According to the White Paper, WIRE will be able to be sent for any reason, to pretty much anyone, at anytime. Over Twitter. Or FB. Or steemit. Or email.
WIRE can then be exchanged for the currency of the receivers' choice at their leisure.
Ponder the uses and implications of this.
For those who don't know, blockchains are for all practical purposes un-hackable, because by their nature they require a hacker to take control of a distributed system of computers - multiple computers in multiple locations all around the world - at the same time to insert their hack.
It's worth noting too that the MinnowBooster team is backing the project for its potential to enhance STEEM. See https://steemit.com/socialwallet/@buildteam/buildteam-and-social-wallet-join-forces-to-revolutionize-social-media
And while it's not launched yet, the White Paper notes it is on track for a Q2 2018 launch, and the SocialWallet is already synced to FB, Twitter and email.
And of course, @socialwallet is on steemit.
The ICO has a 20% bonus at the moment, but you need to buy at least USD $100.
I'm no financial advisor, and this isn't financial advice. But from an innovation and creative-disruption perspective, I reckon this one's worth a look.
Picture by @drwom
interesting, but is this necessary? Why is the blockchain required for something like this to be implemented? One question I always ask when looking at an ICO is why are they using the blockchain? So many ICOs seem to only be using the blockchain because of the hype ... while being entirely unnecessary. Will look more into this! Thanks for sharing
Hi zhangster. I am a little confused by your questions. We have created a platform that any cryptocurrency could be added to and instantly expand their reach. Imagine if Steem could be sent across all of social media instead of just in its own bubble. Now imagine the top 100 coins on our platform doing the same thing. Thats where this is headed. We would love an additional response on how and why this tech could be done, and done better, without blockchain involvement.
Because of the added security. I reckon you should get used to it. Blockchain will facilitate a secure internet.
So basically I understand is like it is a status with money transactions whitepaper.
It's the ability to send money securely through your twitter, FB, steemit or email account.
What is the difference between that and sending some one your wallet address on social media?
Good question!
When you send WIREs you are actually sending the money straight to them - they don't need a wallet. They do need a Social Wallet to redeem them, but there is a really easy process to get it as part of the options when you receive the WIREs 🙃
I feel there are so many tokens competing in this space.
I've not heard of any that can do this. Have you heard of any?
its like what fb has started recently... fb buisness kinda thing????
So nice information on the subject.