Social Wallet - An Introduction to WIRE
Bringing cryptocurrency to the people!
Social Wallet aims to make cryptocurrency accessible to everyone by combining the limitless power of the blockchain and the interconnectivity of social media.
We are strongly focused on our goal of introducing over 2.5 billion plus social media users to cryptocurrency. Our guiding philosophy on this journey revolves around the mission of mass cryptocurrency adoption through social media outreach.
Our two pronged approach of implementing an easy-to-use platform, alongside the launch of a Social Wallet Initiative, will help drive new users, who have never used cryptocurrency before, towards Social Wallet in an effort to hyperconnect the world.
Our Mission
With the evergrowing number of social media users and the booming of blockchain technology innovation, it's inevitable that both of these powerful forces will finally be brought together. That is exactly what we aim to do.
What is Social Wallet?
Social Wallet leverages blockchain technology to enable cryptocurrency transfers over today's existing social media infrastructure.
No prior setup or knowledge is needed when receiving a transaction. The process is illustrated in these simple steps:
What is the WIRE Token?
The underlying token powering the social media transactions is the WIRE token. WIRE token is used as:
- the cryptocurrency sent to the recipient
- a transaction fee for the transfer
Once the recipient has received the WIRE tokens, he has multiple options to use them:
- keep the token in his wallet
- send them to friends, family or co-workers
- make a purchase using the Social Wallet Debit Card (upcoming feature)
What are some possible use cases for the WIRE token?
Scenario 1:
Jack runs a study group and his time is valuable. His students can pay for his time, sending him WIRE directly via the same social media network that Jack uses to train his students with.
Scenario 2:
Joe, Matt and Ilana decide to go on a weekend trip to a cabin on the east coast. Collecting funds for the trip has never been easier as all payments can be done instantly via their social media group.
Scenario 3:
Everybody loves birthdays. Long gone are the days when receiving an Amazon gift card felt like a cool and unique experience. Think about your best pal who just got 50 “happy birthday” notes on Facebook. Why not trump them all by sending him some WIRE as a present?
Scenario 4:
Everybody needs a bit of help sometimes. WIRE tokens have the potential to be used for community building and social relief efforts. They can be sent to help out a friend who recently went through an unforeseen event or even assist an entire community victimized by a natural disaster. They could also be used to reward amazing stories of heroism.
The ability to use WIRE tokens for social good is extremely promising. And that’s what the Social Wallet Initiative is all about; it will use its budget to actively focus on championing such altruistic causes wherever they may be found throughout social media.
What about the technology powering Social Wallet?
WIRE uses the XEVAN algorithm, it was founded by the Bitsend developers and has since then proven to be a stable, ASIC resistant and efficient algorithm. The Xevan hash algorithm is a unique combination from the dual X17 difficulty algorithm with an extension to 128 bits.
Coin specifications:
250,000,000 circulating supply
30 second blocks
5 confirmations (2.5 minutes)
155 confirmations for staking
35,000 WIRE per Masternode
Built on Bitcoin Core 0.10.x. with all v0.13.2 updates and Dash core v0.12.1 BIP38
Encryption/Decryption of Private Keys
Why Steem? A call to action!
Social Wallet is a visionary project designed to connect social media users with the world of cryptocurrency. Steemit is an amazing platform in which to reach out to social media users who are already familiar with cryptocurrencies and integrate them into what will be an even larger ecosystem. The goals and intentions of Social Wallet and the Steem community could never be more aligned and as a result we would like to invite the Steem community to join our token sale and be a part of a new paradigm in which cryptocurrency and mainstream social media networks unite. The Steem community and its blockchain will play a large role in our future development strategies so stay tuned for many exciting new developments!
Summing it all up
It is Social Wallet's mission to introduce over 2.5 billion social media users to cryptocurrency. Its token, WIRE, goes on sale on February 7th, 2018 at a price of $0.15 per token. The token may be purchased in Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). This is a once in a lifetime opportunity to participate in the WIRE token sale and be part of a revolutionary merger between blockchain and social media so don't miss a chance to make history! Visit us on the web at www.socialwallet.io for more info.
Give us feedback
Social Wallet is a platform that has specifically been created for our users. We want people who have very few technical skills to have an opportunity to join the cryptocurrency community in an easy and fun way. Take a moment to leave a comment below and tell us how we are doing!
Join the Social Wallet Discord chat
Do you have questions left unanswered? Would you like to be part of the Social Wallet community? Take a moment and join our discord room by clicking on the 'Join discord chat' button below!
I have a couple questions for you. After the token sale will the platform be accessible? Could you clarify which social network options will be available for sending WIRE after ICO? Will POS be available directly after the token sale? Thanks in advance.
The platform is fully operational. Everyone will have instant access to the platform immediately after our token sale. There is no waiting for a future technology being developed. Its already here! We have Facebook, Twitter, and Email already set up. Our pipeline is full of social networks we are integrating. Check out our Roadmap! POS Staking and Masternodes will be will be immediately available along with the platform release. We are all set to go!
Interesting Idea
I have heaps of questions for the receiving end. First, let me start with the primary:
Will the recipient have to set up their own wallet? I feel it may be a hassle to try convince people you are trying to support to register for a wallet. Especially when some sites like FB and Snapchat allow you to send $ through their platform.
No! there is no need to set up a wallet.....unless the user chooses to. They tokens are just fine sitting on the platform. Now If they want to do something besides send them to someone else on social media, they will have to take them into their wallet. This platform is a marketplace...like Ebay at its core....where all of crypto can come to it and use it to facilitate the social network sending function. And WIRE lives within this marketplace as the utility token. Lastly, We are in the works for a "1 button click" wallet setup. Ease and efficiency is our goal. Thanks for your question.
I'm a bit confused here. By social media, do you mean any social media, like facebook or crypto-based media like steemit or golos?
Both! In the next 12 months Social Wallet will have built in access for at least 14 of the top 20 traditional social networks in the world, including China's and S. Korea. Our roadmap is on our website www.socialwallet.io. Currently, we have Facebook, Twitter, and Email active. That being said, we see the tremendous opportunity our platform presents for not only ourselves, but for crypto based social networks. A few of us are long time Steemians and are excited for the future synergies our two companies will be able to build upon. Just FYI, there is an announcement that is imminent on this subject matter. Stay tuned!
Cool, will check out!
So in case I understood everything correctly so far, then this means that I can send cryptos to my friends who still prefer to use "traditional" social media? Without the need of any long complicated keys but only their username on that respective platform? Oh man, that´d simply be awesome :)
Can you eventually let me know which platforms you plan to integrate over time and which ones will be available right from the beginning?
You are all over this! That is exactly what this means. We have Facebook, Twitter already integrated along with any and all Email providers. Our Roadmap can show you the rest!
I personally think Social Wallet is a great idea because I already use multiple Social Media platforms like Facebook, Instagram, Steem, Twitter, Youtube, Google, Facebook, Indeed, Discord, Telegram, Github and many more. I think this an innovative idea because a cross platform cryptocurrency will help spread the word about cryptocurrencies by allowing people from every social media platform to use WIRE Tokens and getting the end user more involved in cryptocurrencies.
Three questions..
How will you integrate with all the social media platforms out there? As an example, would Facebook allow you to use their customers and how would you integrate with them? There has been talk that FB eventually could introduce a coin themselves, which would probably exclude others from introducing any kind of payment.
Is there a fee per transaction?
Have you signed up any social media platforms?
Social sending through Facebook is already built into Social Wallet. How we do it is proprietary :) If it was easy it would've been done already and our company wouldn't have needed to accomplish this goal. We keep hearing about all these social networks thinking about adding their private coin. There are 2 key points to this. 1. We will have already accomplished this first so we have first mover advantage with WIRE already dispersed across multiple platforms. 2. More importantly, The worlds social media companies aren't going to form a "Crypto Alliance" where 1 coin can be used across all of them. They are all introducing coins for their own personal gain. We will be the 1 token that is universally sent and received across all of them. In my opinion, that is way more valuable from a business and user standpoint. To answer question 2, the transaction fee with be in WIRE as it is the utility token that facilitates the transactions. Right now, we have transaction fees as 1 WIRE. So $.15 a transaction. 3rd question, there is no need for us to "sign up" to social media platforms, all platforms listed in on our website will work with our technology!
The only fantastic thing I see in this post is the great formatting and the perfect execution of words and flawless grammar. Beyond that, nothing more--nothing less.
I expect this project as just another soon to be dumped coin when it hits the exchanges.
Why would anyone use Facebook at the same time use another currency to send and receive money when you can do the same thing with the already functional, built-in feature in Facebook?
How can you convince Visa/MasterCard to sign a partnership deal with your project?
How are you going to integrate your payment gateway into the Facebook ecosystem without installing anything?
If Bitcoin is struggling in dealing with financial regulators involving fiat, how sure you are you won't suffer an even more regulation?
How can you compete with the time-tested and robust protocol afforded by ReddCoin and it's very cheap at the moment?
Not going to waste time with another post. So here is the same reply from your last bashing/reddcoin pump post. We are not here to bash Reddcoin as it seems you are here to pump it. To say there is nothing special about our platform is quite an uneducated statement. Let me ask you 1 question to debunk that statement: Is any coin, including the one that you are touting, able to be sent and received through Facebook? Ok then. With or without your blessing our platform is viable and awesome. Our platform and Roadmap speak for themselves. As for the Visa/Mastercard scenario you are wishing us good luck on...all of that is handled by our third party card provider we are partnering with. Thanks!
And for the record, we like RDD, and see valuable synergies down the road. If you love RDD as much as you say you do, you should hope for Social Wallets’s success. You are fighting against yourself here :)
I don't give a fuck about the success or failure of Reddcoin as I never invested into a single RDD coin ever!
That being said, you guys should be responding to each inquiry thrown at your project respectively, else you're clouding the minds of your potentials investors (not me) about the sincerity of your project.
Really? A copy-paste response to your critic's legitimate inquiries? WTF! I wouldn't be surprised if your codes are also copy-paste. Smfh
I think we are done here. Thanks
So you want some real fun by downvoting my comments and all of my posts just because of your inability to handle a heated debate? You are shooting yourself in the feet as I can literally dedicate this account solely to devastate your overall project across various social media networks.
You think I don't see your flag footprints? You are messing with the wrong person by using a sockpuppet account.
In case you don't know, I am a member of more than 1,000 Facebook groups, with over 2,000 followers excluding Twitter, Minds, GAB, a Medium Publication, and a handful of money making forums.
Good luck with that! Let's see how your downvotes translate on those above mentioned platforms.
Seems like you are rubbing others the wrong way with your aggressive posts. The only one in a heated debate is you. You are really worked up about something that will take Steem to the next level...very strange. Devastating us across all social media platforms seems like an awful way to spend such valuable time. We hope you reconsider.
And then you really want me to think like a fool huh, by trying to distance yourself from that sock puppet account @dwhntx. What do you think of me, a 33rd degree noob who's unable to figure out a plain hide-and-seek game? Think again!
The moment I receive another flag from your candy-ass buddy, expect a return fire from me in a form of demolition job spread across world wide web.
This I can tell you, I can still make money while doing so by way of introducing a better alternatives and other forms of referral marketing.
BuildTeam. Partnership. Boom!
https://steemit.com/socialwallet/@buildteam/buildteam-and-social-wallet-join-forces-to-revolutionize-social-media
@introvertspeaks
Your unanswered questions, gave me a second thought before investing in this ICO.
I gathered some hardfacts about this project, which i wanna share with you here:
https://steemit.com/socialwallet/@roomservice/some-research-about-the-social-wallet-ico
I would love to clear some of this up for you. I will try and go in order of your research. Yes, it has been stated everyone that I was involved in Buildteam before Social Wallet. I was actually the Business Development Manager. Now, an Advisor. That should be a positive attribute in everyone's minds. Also, Buildteam didn't have to support us at all. Do you think they agreed to all of this without dissecting our technology to confirm it is legit and, from a company standpoint, that we are rock solid. Its silly to think they didn't do their own due diligence. There is no other answer except for that we are legit and the next big thing in crypto!
There is a VERY good reason you cannot find us on ICO sites. We have an outstanding legal team who is guiding us through the process of getting through the token sale without violating any SEC guidelines. We are a US based corporation doing a token sale. Very rare. So with that in mind, we can't portray ourselves as an investment. We are only focused on the amazing tech we have created and how great the functionality is. To use ICO promotion sites is a giant red flag to the US government and you should be MORE scared if we turned a blind eye and disregarded that key guideline.
Next for the domain name. We were set on a name that was not used yet. Later, we stumbled upon an ICO that was further in the process than we were that scooped the name up. Hence, we had to find another name and register the new domain name. Nothing scary there.
Next, an Upwork ad. Yeah, our developers are KILLING IT with the actual platform so we wanted more bodies to help develop the front end of our website. That was before 2 key moves. 1. We partnered with a tech firm. 2. We partnered with BuildTeam and have complete access to their team as well. Still nothing scary. Actually, more awesomeness
The logo. We've had 2 logo contests for Social Wallet's logo. One earlier than what you posted. Again, this goes back to the change in name we had to do because of the other ICO.
Our company. We are registered in Delaware as a C-Corp. Fact. We did this because everyone in crypto can be suspect and we wanted to show all users we are being as transparent and upholding of all US laws....WHICH, btw, inherently covers users who purchase our tokens. Is that scary? Nope. Its awesome for everyone!
Actually, the website is great. We encourage everyone to go to www.socialwallet.io to check it out.
It is a Pivx fork where additional staking and masternodes are available. How great is it that you can stake and masternode for MORE tokens? Again, awesome.
Your statement about a minimum target is irrelevant. Our platform is ALREADY BUILT. That means we aren't using funds to develop the platform. People could only purchase $1 and the platform will still go live. The money isn't used for that. You are still thinking like a traditional ICO. This sale is for our Utility Toke called WIRE. Our sale is for ACCESS to the platform. Not development. Crucial point there. Still not scary.
This has not been rushed. We have been working on this project since July of this last year when Luke, our developer, finally cracked the code on how to integrate through all social media. And lets be clear. EVERYONE has been trying to create this technology. Just look at Reddcoin, which we like, but is a clear example of a 4 year project that hasn't gotten there yet in terms of what we have been able to create. Its going to be one of the premiere platforms in cryptocurrency.
Thank you for the opportunity to respond to each issue. I now feel our users will be even more excited about our company and will purchase more tokens because of it.
Thank you very much for your time and effort for clearing things up - and a special thank for staying on topic, that's brings even more trust into your project.
I just edited my post with your direct answers to the points - i hope that's OK for you.
On last comment on this quote:
I never wrote in any kind of way, that i think this way - that's not true.
Just to make it clear - in order to avoid further misunderstandings:
I have a lot of trust and respect for @buildteam
I guess it is launch day and all nerves are sitting blank somewhat 😊
We have seen their beta platform and it is looking great in my opinion. And there will be more things happening the next days from what I know.
I am really glad that you took the time to research the ICO throughout! We need people like you to make sure that users don't fall for scams.
Should you find any potential problems, please bring them on so @socialwallet has the opportunity to clear them up.
In the end, a heated launch means people care 😊
At first glance, this project looks very impressive--things like logo, website design, PR--however upon close examination it appears to be either an impossible dream or just another coin.
I don't want to say anything at this point as they are beginning to flag not only my comments but also including my posts which have nothing to do with their so-called next big thing.
Let the sharp-witted investors do their own diligence before jumping in to the ocean of uncertainty.
I'll check your post.
I'm not sure who is flagging you but I can gladly counter that. I am pretty sure that that account is not a sock puppet.
If you want, hit me up on discord and we investigate that flagger. They are certainly acting in bad faith.
This is a pretty epic project right here!
I just finished watching the Feb 6 Senate hearing with the CFTC and SEC.. Most people talking are completely misunderstood about crypto-assets (of all types). These kind of projects show that these coins and tokens can have real world application and value. They are not securities, stocks, bonds or IPOs.
Let's just say it is refreshing to see great ideas like this come to fruition, while so many institutions decay around us. Thank you for your work!
Keep Steemin'
@Ozwald
Epic is a great word for this project. We promise the more you understand our platform and technology the more excited you will get as you realize the tremendous scope and scale of this project. We are a platform FOR major platforms. The next sequence of questions should align your thoughts with ours:
How many cryptocurrencies have the capability to be sent over any social network of their choosing?
How many cryptocurrencies would love to utilize this technology to expand their global reach via social network transaction capabilities?
How many potential new users could we introduce cryptocurrency to that have never used it before through the social media accounts they are already using and comfortable with?
What future crypto applications can be achieved by providing the platform that opens up the door to the entire world through social media?
Now, combining your answers will provide you with a clear vision of the "epic" opportunity presented if there was actually a company who could develop such a technology....
Well...Allow me to introduce you to Social Wallet!
How will we be able to send this token to each other on social sites? Will it route through a third party site or an app or something? Any info on the team? Thanks!
Our wallet and platform are combined into one. From the platfrom, you can send directly to the social media network of your choice. No third party involved. You can see our team and partnerships on www.socialwallet.io.
That was my next step. Thank you for clarifying!! I’m interested in this project.🍀
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salute!
Quite an honor for you to see value in our company and platform. Thanks for your support!
interesting idea...LETS GO!!!!
Nice