The 4th Pillar is a unique cryptocurrency project. The project aims to allow users to build a verified identity on the blockchain. Users can take this verified identity with them wherever they go. So for instance, say that you are changing jobs. Instead of going through a tedious and expensive background check, your prospective employer can simply use the 4th Pillar. You would provide your verified identity to your prospective employer through the 4th Pillar, and both parties would save valuable time and money in the hiring process. The 4th Pillar is an intriguing project because it has a real-world use case and could help more businesses adopt cryptocurrency. Let’s explore the whitepaper.
What Is 4th Pillar?
The 4th Pillar’s biggest use case is for establishing a verified identity on the blockchain. But that isn’t the only innovative solution the platform provides. The 4th Pillar also offers a wallet system that can send payments from organizations to individuals and a sensitive registered document distribution system. Organizations can also use the 4th Pillar to send sensitive documents without fear that they’ll be lost or misused. By using the verified identity feature, organizations can ensure that the individual receiving the document is who they say they are.
Use Cases
Here are several use cases for the 4th Pillar technology.
• Paying all employees at once with cryptocurrency: An organization can use the 4th Pillar to make payments to all their employees at the same time, regardless of location.
• A business can distribute sensitive documents safely: The document distribution delivery system uses blockchain technology to ensure documents don’t fall into the wrong hands.
• Recruiters can use the 4th Pillar to verify the identity of prospective employees: Employees can have their work history placed on the blockchain, and sharing it along with their verified identity is as simple as a few taps of the smartphone.
Platform Roadmap
On February 4th of 2018, the 4th Pillar had its BETA release. This included wallets for individuals and organizations and the development of the FOUR token economy. In the third quarter of 2018, the 4th Pillar will focus on getting the FOUR token listed on exchanges. The project wants to have its mobile wallet app launch in the first quarter of 2019. By the third quarter of 2020, the platform will have its SYNCHRO module launch. And by the 3rd quarter of 2021, the 4th Pillar hopes to have a fully functional platform with global integration.
The 4th Pillar project is quite interesting and has several real world use cases. The team has done a wonderful job at increasing awareness around the project as well (https://bountyhive.io/join/4th%20Pillar). It is easy to see why individuals and businesses would find a verified identity attractive. For individuals, it would allow them to avoid long wait times for background checks, and for businesses, it would greatly reduce the expense of checking out a prospective employee or partner’s identity. Cryptocurrency projects would be able to quickly identify the legitimacy of prospective investors or team members. That is why the 4th Pillar is one of the most exciting projects in 2018.
Written by: liveheart
BountyHive ID: liveheart