THE INTRICACY OF CRYPTOCURRENCY
I remember when I first got to know about Bitcoin in 2015, I could not easily understand it probably because I was not a tech geek and it appeared somehow complex for me to comprehend. However, my inquisitiveness took a better part of me a year later to dig into the blockchain technology, at least to understand the fundamentals. This quest marked the beginning of my sojourn into the world of blockchain and cryptocurrencies. In a world where the human population is estimated at over 7.6 billion with only about 0.04 percent (3 million) active users of cryptocurrencies, it is very apparent that cryptocurrency has limited exposure and adoption. So many people are unaware or do not want to have anything to do with it, at least not yet, because of its intricacy, perception of illegality, and lack of tangible physical utility. Unlike fiat which can be used to pay for goods and services, cryptocurrencies are far way behind and are currently used mainly for speculations.
Even Satoshi may have created an innovative financial system, without mainstream adoption Bitcoin and other cryptocurrencies may never achieve their intended purpose, their economic potentials notwithstanding. So the challenge is how can cryptocurrenncies be made attractive and easy to use and understand for an average person without technological background? This is the daunting challenge Sidera is poised to solve. The chief goal of Sidera is to facilitate mainstream adoption of cryptocurrency with the target of bringing in up to 1 billion cryptocurrency users in the next five years through its introduction of SmartBit devices - decentralized wearable devices such as smartwatch and smartband for sending and receiving cryptocurrencies, and Continuum wearable exchange.
SIDERA SMART SOLUTION
Sidera is leveraging Blockchain and Internet -of-Things (IoT) to develop innovative smart consumer products and solutions not only to attract those new crypto users, but also to make cryptocurrency widely accepted and spendable. Imagine a scenario where you can send and receive cryptos from smartwatch or smartband worn around your wrist. Isn’t that beautiful? Sidera has developed wearable devices powered by IoT and Blockchain technology to store and transact cryptos using military-grade encryption while also enjoying cool full features of a smartwatch. The SmartBit devices will come in three models; BitBand, BitWatch Premium, and BitWatch Premium.
Apart from the normal functions of a smartwatch, these will primarily serve as secure hardware wallets for all your cryptos and will be connected to a companion smartphone or PC app through Bluetooth. This is to ensure higher level of security as transactions will not go through if either of the two is missing. So if you lose your smartwatch or phone, you can rest assured that your tokens are still intact. And for you to recover your funds, you only need your passphrase (secret key) which you would be prompted to write down during wallet initialization. The secret key is unique to you as it is generated by a sensor from your arm movements.
Users of these wearable devices who are in range can transact cryptocurrencies with one another through wrist-to-wrist interaction. To further enhance mainstream adoption of cryptocurrecy, Sidera users will be able to use the device to make Point of Sale (POS) payments globally. The feature I find most interesting in the SmartBit devices is the Ghost Mode. The Ghost Mode feature allows you to switch your smartwatch to an “ordinary” functioning smartwatch. This allows you to completely conceal the hardware wallet and all cryptocurrency-associated functions. It definitely keeps your digital assets away from prying eyes. Talk about ultra-enhanced secure solution, that is Sidera. Other cool features present in these devices include price alerts, QR generator, music, weather, news, crypto charts, real-time currency converter, watchfaces, NFC etc.
Furthermore, Sidera is releasing a completely decentralized wearable cryptocurrency exchange called Continuum, which will run on millions of SmartBit devices. Is it not fun to have your exchange on your wrist? This is the first wearable exchange in the world, and it is built on Sidera Hybrid Blockchain with security, anonymity, and high transaction speed at its core.
EQUOS COIN
EQUOS is the native token of the Sidera ecosystem. It is the cryptocurrency for internal payments within the ecosystem and it also interacts with the network like a smart contract does.
TOKENOMICS
Token Name: EQUOS
Type: Utility
Price: 1 USD = 0.5 EQUOS
Soft Cap: 1,500,000 USD (Reached)
Hard Cap: 15,000,000 USD
Total Supply: 51,000,000 EQUOS
ICO: Starts September 1, 2018.
ROAD MAP
In conclusion, Sidera has shown that it is prepared to facilitate the mainstream adoption of cryptocurrency by smartly attracting new crypto while also engaging existing users, using innovative decentralized wearable devices and exchanges based on blockchain and IoT – the technologies of the future. Sidera represents creativity at its best and will be instrumental to the expansion of Bitcoin and its sister currencies worldwide.
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