HODL THAT! #10 – Pillar
This issue of our popular HODL THAT! series, we want to present an analysis by a Telegram channel we follow closely: CryptoMedics. We like their exclusive content very much and are currently in the rating process to decide if we take them in our crypto signals post. Until now the quality of their content has not to hide behind Bitcoin Bravado, and is even more progressive in our opinion. We will follow closely and let you know. For today, we want to present one of their top picks as HODL THAT #10, which is especially interesting in the light of the current ongoing things with Facebook and its data leak. This was initially posted in February, but is still current for an excellent long-term investment. Enjoy their analysis!
Pillar may soon be the primary wallet to compete against. But it’s not a regular crypto wallet like we have plenty today, or one of the new ones like Ethos, Bread or OMG. It is a meta token for our everyday life and activities. All our metadata will be garnered by Pillar, not by outside companies (Google, Amazon, Facebook, Apple) like today. You will have control over your personal metadata and you will be able to monetize over it. Personal data is incredibly important and it is a field of life we don’t manage well, it is managed by outside companies that take huge monetary advantage by it (almost 500 bln USD per year, that’s a rough estimation).
Pillar is a platform powered by its own native token that will finally fulfill the promise of the personal data locker. The project is very ambitious and still a long way before they fulfill their vision but this wallet may power most devices, including phones, tablets, wearables, cars, buildings, and more. Eventually, they will develop a personal digital advisor to help you manage your everyday life based on your metadata.
The platform will be token based, it means that the user will be able to pay for his daily spendings with PLR tokens. This wallet can be the first thing to put apps behind, meaning that this one wallet will perform all services that all our apps already do. All in one wallet, decentralized and stored on the blockchain. Noone but the user will have access to his metadata and will be allowed to do with it whatever he wishes to.
The team: those people are full of vision and enthusiasm. They are not all stars, but they are so committed to their vision of future that we immediately believed them. This kind of communication is similar to Substratum. We are buying this idea Pillar Team!
Competition: their competition known to us is Infi, a company based in Israel but outside the crypto field (no ICO, no token so far) that is trying to develop their personal digital advisor. They have recently raised 61 mln USD for further development of their product from private and institutional investors (according to our insider knowledge).
Another one is DATUM (DAT), a marketplace for IoT and social data. It is however in early stage and we’ve seen some red flags. The last one is Apex, a newly past ICO project.
Final thoughts on Pillar:
At first, it may be hard for people to fathom what Pillar want to achieve, cause they totally want to change the way we interact with apps. If anybody thinks that giants like Google, Facebook or Apple decide to drop millions of dollars for monetizing our personal data, you are naive. The only situation when this could happen is to force all companies to use such lockers by law. I don’t believe this can happen. In this struggle, Pillar will be on the same team with Siacoin and BAT. Nevertheless, we see a really big potential in Pillar project. There is no way world gigantic companies (Google, Apple, Facebook etc) will want to partake in Pillar. But decentralized companies – ABSOLUTELY! Imagine you install Pillar App on your mobile, and you have Steemit for news, dTube for videos, Brave for browsing, Wanchain as decentralized banking, Verge for totally anonymous transactions. The world is moving in the direction of decentralization. Absolutely every business and service you are using now, for sure will have decentralized competitor in future. And this is a great opportunity.
Hype for Pillar has started but it’s not great yet, but consider your risk. If their wallet is good and looks great and is easy to use – moon soon. If it is complicated and ugly – down with it. But some leaks confirm is it really good.
We go for it with our spare FIAT/cryptos.
This HODL THAT issue has been brought to you by CryptoMedics.