When apple pay, and Samsung pay first dropped everybody saw the potential. This technology gave people the power to purchase items with just a tap. Sidera wants to do something similar but with a twist. See centralized digital wallets like Apple Pay and Samsung Pay have a lot of shortcomings. Issues like security, geographical restrictions and system outages are some of them but Sidera has an answer for each one.Let's dive in shall we:
Sidera's Fix for: System Interruptions.
Since all the data that exists on the user's wallet is kept inside servers or on the cloud there's always the possibility that because of issues with network connectivity, scheduled or unscheduled maintenance the system will fail or go offline.This means transactions will be super slow or payments may not work at all. Sidera is using a proprietary form of cold storage technology to ensure all your coins/tokens are offline and won't need to be synced to and from a centralized location, all the funds can be sent or received conveniently using a crypto address which is generated into a QR code. This means there's no possibility for system outages.
Sidera's Fix for: Geographical Barriers.
One other major shortcoming of centralized digital wallets is their level of geographical restriction. Picture this as an example - as of this post samsung pay was only available in the UK, US, Australia, Belarus, Brazil, Canada, China, Hong Kong, India, Italy, Hong Kong, Malaysia, Mexico, Puerto Rico, Russia, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, United Arab Emirates and Vietnam. That's only a subset of the international market.It makes sense though because before they can move into a new market they need to account for all the financial regulations within that country as well as account for all the currency imbalances.Sidera user's need not worry about this ever happening to them, because all the transactions occur on a peer to peer (should i say wrist to wrist transactions) level. There is also no need to adhere to centralized based regulations because all the values of cryptos tend to be constant in different markets, this means real-world applications for Sidera's ecosystem won't be confined to just a few suitable markets. It can serve a global audience with ease.
Sidera's Fix for: Potential Data Breaches.
Centralized digital wallets have a lot going for them, they have everything but security. Every time you use a smartwatch the merchants or parent company tracks and records significant amounts of data they can profiteer later. Data such as shopping habits, browser history, average spend, and other credit/financial information is gold for these data companies. The company with the most data will almost always have an edge over its competitors. It makes sense for them but it's bad for you.Criminals know robbing a bank would set them up for life, which is why banks invest so much into their security even though everything is insured: Armoured vehicles, armed security, specific protocols! All this to ensure the money is transported from one location to the other. We don't have this kind of protocol to guard our data. So hypothetically is someone hacked his way into these storage locations. Trouble. Sidera knows you don't need a middleman to facilitate seamless transactions, it knows that by placing the right technology in the hands of its users through its decentralized wearable devices they can and will do the rest.But just in case the companied has put in all the right security measures to ensure all its user data and assets are safe. By all i mean, encrypted layered technologies, a ghost mode, military grade AES-2048 protocols, biometric security and a zk-SNARK technology that allows all transactions to be encrypted but still able to be processed by the networks consensus.
Conclusion.
Sidera has a lot going for it, other than the POS, the company also has continuum, which is an amazing digital asset exchange that's launching in early 2019. The continuum will be completely based off your Smartbit device. How cool is that. If there was a time to invest, then that time is now.
Participating in Sidera's upcoming ICO.
With a solid team in place, great partners like nexqo, inscoin & RightsCommerce, tonnes of research conducted and a Smartbit prototype already developed and ready for consumers, Sidera is looking to raise $1,500,000 for its soft cap target and $15,000,000 for its hard cap and with a total supply of 51,000,000, everything is ready for the distribution date of 1st September 2018.*Do note that interested buyers need to invest at least $100 (that's 50 eQUOS) to participate in the campaign. If this goal isn't reached by 30th September 2018 which is the scheduled completion date, all the funds will be refunded.
How the 51,000,000 tokens will be allocated.
72% (36,720,000) of the funds will be allocated to the donors, or the people that invest their time or resources into Sidera, 15% (7,650,000) will be set aside for the founding team, the other 6% (3,060,000 will be given to the collaborators. The remaining 7% will allocated to the reserve program (4%) and the last 3% (1,530,000 tokens) to the advisory team and strategic partners.
Additional Resources.
Sidera will be giving away 1% of all the funds it collects to charity, it will also register .bitcoin .btc and .blockchain domain extensions to give back to the blockchain community. To find out this and other ways the company will changing the game feel free to check out the links provided below:Check out the company's main site here: https://Sidera.io
If you're a reader - you can peruse the Sidera's official 54-page whitepaper hereIt's 2018, everyone is on social, Sidera is too! and the best part is - participating in their bounty program will earn you some eQUOS, and all you need to do is like and share the company's posts. Same goes for Twitter, LinkedIn, Telegram and Reddit. Here are the links to their social profiles if you're interested:Follow on Twitter
Share on Facebook
Connect on LinkedIn
Add on Telegram
Participate on Reddit
For more information regarding the bounty program. Check out Sidera:On MediumandOn bitcointalk
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