OVERVIEW
The human mind is creative by nature and once it achieves one milestone, it strives for the next, seemingly impossible one. This is hugely evidenced in the innovations witnessed in the last decade or thereabout, in the way and means with which we communicate. Communication gaps virtually no longer exist in our world today, thanks to the internet and proliferation of social media. Information is now at the fingertips with distance no longer being a barrier in sending and receiving information. Social media platforms play a major role in bridging the communication gap. According to research, there are over 2 billion people on social media platforms currently, with the figure rising steadily on a daily basis. And on the opportunity angle, this is a huge and virtually untapped market space.
On the other hand, the invention and evolution of the blockchain technology and cryptocurrency is an unprecedented landmark in the financial industry in recent times.
Before, fiat currencies were the most valued assets with numerous drawbacks when it comes to accessing and transferring funds. Topping the list on the drawbacks of fiat currencies is the fact that they’re controlled by central bodies, with lots of bureaucratic obstacles and processes militating against smooth and easy financial transactions.
The blockchain technology came and disrupted the financial industry, opening up a whole new world to new entrants with inherent innovations that makes it very useful in virtually all aspects of life that you can think of.
In as much as these two innovative milestones have contributed to the paradigm shift being witnessed today in the communication and financial sectors respectively, there’s been no discernible effort made to fuse the two and as the human mind is always working to get more out of life, some forward thinking individuals had the bright idea to break the barriers further.
The Social Wallet is a creation born out of the necessity to merge social media platforms with the blockchain technology so as to bring cryptocurrency to more users.
SOCIAL WALLET
As stated earlier, Social Wallet aims to leverage on the huge market provided by the over 2 billion users on different social media platforms for better and faster adoption of cryptocurrency. It will achieve this by creating a platform where participants can send cryptocurrencies to users on social media platforms in easy-peasy steps as shown in the image below:
It’s worthy to note that a large percentage of users on various social media platforms have little or no knowledge of cryptocurrency and therefore, are open for conversion into the crypto world.
As a matter of fact, receivers of the cryptocurrency on social media need have no prior knowledge of crypto and an easy-as-a-b-c set up is all that is needed to access the transferred tokens. What better way to convert billions of social media users to crypto adopters?
WIRE TOKEN
The WIRE is the token built for the Social Wallet platform. It’s built on top of the existing bitcoin Core 0.10x blockchain with all the inherent qualities attributed to it.
Each participant is required to have WIRE token in the wallet before carrying out any transaction because WIRE is needed to pay the “gas” fee and also is the unit of cryptocurrency that can be transferred on the platform.
Once the WIRE is in a user’s wallet, several options are open for the user and is illustrated below:
The WIRE token allocation is shown below:
WIRE TOKEN SALE
The WIRE token sale has commenced and is billed to last for several weeks from February 7th to april 27th 2018. The sales is currently in the 6th and last stage with the minimum purchase being $100 worth of tokens. WIRE can be purchased using Bitcoin, Ethereum or Litecoin currencies. This makes it quite affordable to interested parties in different socioeconomic strata.
Any unsold token will be retained by the team (up to 25,000,000) for marketing and development purposes for the next 3 years and any tokens in excess of 25,000,000 will be burnt.
Funds from the WIRE token sale will be allocated according to the image below:
The Social Wallet platform will be live and operational on the 28th of April, a day after end of sales and will incorporate several major social platforms with more being added in a period of 12 months from launching date.
Written by Ebykamsi
https://bountyhive.io/r/ebykamsi
Checkout Social Wallet website for more information on the token sale
https://www.socialwallet.io
Or read up the whitepaper here
http://socialwallet.io/whitepaper.pdf
Insightful👌
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STOPNice ,i really like this project ,from the information u shared its a project worth investing on.
Great and unique project. You really outlined the amazing features of the project..
Thanks for the information you just enlightened me more.
Nice article
Good article with great analysis of the project, thanks.
Social Wallet is a cute project, my friends have been telling me about it, when is the ICO ending?
Nice write up.. really well detailed
Can we pay in btc
Though I have purchased some already but this article really increase my confidence in the project
Articulate and insightful article kudos.
A very good project, will invest in this