Introduction
With the increasing spread of the cryptocurrency and blockchain disease, it has still witnessed low adoption due to it not having any real world application. Until a crypto asset can be used by an average individual to purchase food, clothes, and other basic real world needs, it will continue to be like this, which is detrimental to the growth and adoption of digital currency.
Sure enough, the blockchain technology have helped various sectors since its integration, but yet, it is still undervalued by an average individual, because they don't find how it comes into their day to day activities and businesses; both small and large scale.
They ask various questions on how they can use it in their businesses, how cryptocurrency will replace fiat if they can't even use it to pay for goods and services, and various other questions.
Truthfully, apart from being traded from one digital assets against another on exchanges, it has no real life application. This challenge led to the emergence of the SIDERA platform, that will consumerize crypto assets by allowing their use in retail POS through a smart wrist watch and a contactless band.
What Is SIDERA?
Sidera combines the best of two worlds, blending the revolution of Blockchain technology
with the innovation of IoT wearable devices.”
Camillo Piscitelli – Project Envisioner
SIDERA Is a an upgraded platform that is creating and an end to end solution that will rotate round a new found way for storing and spending your cryptocurrency via a decentralized wrist smart watch for contactless and smart watch retail point of sale known as Decentralized Wearable Device (DWD).
It will be the first blockchain project to use a decentralized wearable device.
It will provide a reward network for users through free hardware provision for retail stores in marked European location for a start. Users will be rewarded to partake in the SIDERA network via accessibility and ease of use, with the usefulness of mobile payments and the plainness of a smart watch.
Why SIDERA?
When Samsung pay, and Apple pay first graced the retail market, its potential was seen and everyone embraced it because it gave them the liberation of purchasing items with just a tap, but like all centralized projects, it has some limiting issues like scalability, security breach, geographic location restrictions, and system failure due to power or network connectivity.
SIDERA is creating something similar, but with no such shortcomings as pointed above.
How It Will Work
The SIDERA platform belief of freedom and privacy was one of the reasons they supported bitcoin, crypto assets and the blockchain technology.
This leads to their mission of increasing bitcoin and cryptocurrency adoption by delivering a crypto smart mode of payment to people. This will be done by their creation of the first DWD, which will be known as SmartBit; it is a personal, non interfering, and easy to use crypto device. The device will be a bitcoin and other ERC20 standard tokens wallet.
The aim of this SmartBit is to create an easy, comfortable, innovative, and secure way to manage crypto assets for users. It will allow users to transact bitcoin and other ERC20 enabled token totally from their wrist in an elegant and safe means. The SmartBit is connected to an associate application through Bluetooth which propagates features like addresses, contacts, and a means of synchronizing to the blockchain, and much more.
The SmartBit will be created in 3 specific editions; the BitBand, the BitWatch Premium, and BitWatch Visionary, all with exciting features.
The SmartBit Features
Wrist-To-Wrist Closeness Transactions: With this single technological advancement, users can transact various crypto assets through a wrist to wrist offline transactions.
NFC POS Payments: The SmartBit has a built in NFC module, this enables user to spend their crypto funds anywhere around the world in any retail shop with no geographic location restrictions.
SmartBit Security Measures
A Unique Identifiers: The private key to the wallet is encrypted through a unique identifiers that is generated from your wrist and arm movements, skin sweat, and other properties that are unique to each user. This will work well in securing the device since it is not possible for someone else to reproduce another user's body components.
Ghost Mode: This is an additional security mode that is applied so that a user's wallet will not be detected by other devices. Activating this mode will make the SmartBit appear as a normal wrist watch, with normal time hours, so it will not make it obvious it is a cryptocurrency wallet.
Secure Anti-Theft System: This system will provide users with a high security means by using a private seed that is stored in the device sandbox. This is a military level encryption that cannot be accessed by another person, making it safe from theft.
Team
Roadmap
Conclusion
Conclusively, as we all know, many blockchain projects have similarities, but that's all they do alone. A project should provide solutions to a real world issue. Many projects or ICOs have failed to do this, which makes SIDERA the right project to invest as they will finally deliver to us a real time solution to low cryptocurrency adoption.
For more information, consult the following link:
WEBSITE: https://sidera.io/
WHITEPAPER: https://sidera.io/docs/v1.0/Sidera_Whitepaper.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=4756894.msg42969261#msg42969261
TELEGRAM: https://t.me/sideraofficial
MEDIUM: https://medium.com/@siderablockchain
FACEBOOK: https://www.facebook.com/siderablockchain/
TWITTER: https://twitter.com/siderabc
REDDIT: https://www.reddit.com/user/SideraBlockchain?st=JIRSDIAI&sh=dd548a81
LINKEDIN: https://www.linkedin.com/company/sidera-blockchain-technologies
Author Bbt username : Kokoshayo
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2104177;sa=summary
This is really good. I've seen this project on an ICO rating site before, but due to my busy schedule, I've been unable to read about it. I'm glad I found this article as it was really straightforward and well detailed.
What Sidera is planning to create is really necessary for the adoption of crytocurrency, and I think this will set an example for upcoming projects.