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RE: The Social Wallet Initiative: When Cryptocurrency Meets Charity!
@socialwallet Interesting concept, but I would like to know, how it's completely different from RDD as you might be aware of RDD launching their Redd-ID where you'll be able to transfer funds without a crypto address, and seems like they are also working hard to make it work with almost every social media platform.
There are others as well. And what do you think of STEEM upcoming update & if other social media starts building their own blockchain (This is quite a possibility)
Thanks for the questions. I will develop each answer for you. So for starters we want to say we like RDD. Our platform will be integrated across 14 of the top 20 social networks in the world by the end of the first fiscal year. This is not the case for RDD. Next, with our platform we have what is called a Zero Knowledge Recipient. This means the person you send tokens to needs no prior knowledge or setup to receive funds. Once they get their notification on the social network that you sent the tokens to, all they have to do is click to accept and the funds are immediately available. It is my understanding that you have to pre sign up your Redd-ID to receive funds. While this is adequate for people currently in crypto, it provides zero reach to people outside of crypto. Our platform has seamlessly taken care of this issue, in turn, opening up crypto to 2.5 Billion people to receive crypto without prior set up. We feel their is tremendous value in that. They have also been working on their project since 2014. We feel our platform and technology is premium to anything on, or currently in production, in the marketplace today. In all honesty, RDD should reach out to us about being listed on our platform. It would help them tremendously.
We love Steem. Look at our account if you don't believe us. We have powered up everything we have gotten in token sale purchases. Steem is amazing but confined to its own ecosystem. Social Wallet breaks Steem out of its bubble to reach any social network it chooses. We aren't competitors with Steem. We are the amplifiers of this great network. Very key designation there.
As for all other potential competition within social media. We expect it. A few social networks are talking about their own token. We have 3 tremendous advantages:
We will be first to market with a truly universal social network platform. Our coins will be spread across every social network. Not just 1. That is a MAJOR advantage.
Social Networks will not form an alliance. They will only have their own coin on their own network. Again, we will be the one universal token that transcends the confines of each social network.
We are a platform. We can list any coin we want (Like an exchange) on our platform and they will instantly have access to utilize our technology to send across any social network of their choosing. That is HUGE.
We will be one of the most used platforms in all of crypto in 2018. You can count on it. Right now no coin has access to social media on a universal scale. Can you imagine any coin in the top 100 not wanting to expand their potential reach by being listed on our platform? We can't!.
Hope that helps!
Correct me if I'm wrong.. so it's like an "universal crypto wallet" but for Social Media?
A universal social media exchange for crypto. Yes.
That is why I love this project. You have a clear vision of where you are going.
wow