SID Token (SIDT) ICO review
SID (Share Internet Data) is a peer-to-multi-peer decentralized internet sharing system that allows sharing internet from one person's Android smartphone to another nearby in an automated manner. One of our key missions through the SID project: “To lift as many people as possible out of poverty by means of giving the less fortunate a way to access the Internet”. Certain users will be able to get free Internet access by obtaining tokens in exchange for consuming advertising. Such obtained tokens can then be used to consume internet megabytes from other nearby Users in exchange for tokens OR Users will simply trade some of their tokens directly with other SID Users. Those trades will be done through a secured blockchain, on a public exchange to ensure full transparency, with the control of the tokens and the control of sharing internet or not fully decentralized, meaning solely under end-user’s control through their post ITO (Initial Token Offering) future token Wallet in the SID App.
A peer-to-peer and peer-to-multi-peer internet sharing eco-system (Share Internet Data or SID for short) that will allow sharing internet from one person’s Smartphone to another, specifically offering internet access to those less fortunate in society. This solution will however also allow individual returns to those who share their internet with others. Tokenomics are ensured by allowing users of this solution to trade traditional or crypto-currency into our future SID tokens and vice-versa, trade SID tokens for megabytes of internet data and vice-versa, trade consumed advertising into SID tokens, and trade (send and receive) tokens between users of the SID eco-system.
We propose a solution to the status-quo where internet is mostly obtained from traditional service providers or mobile network operators. Our novelty is achieved by using crowd sourced internet in a peer-to-peer structure between nearby Smartphones as per our fully in-house developed intellectual proprietary eco-system based on: pending PCT patent WO2016124915A1 filed in 2015 and going forward provisional USPTO patent Application Number 62588951 filed in 2017. The Smartphones will automatically share internet with nearby smartphones or tablets, based on a set of parameters, and upload the encrypted users’ trades to BlockChain custodians. Such trades as described above will create future token growing liquidity in line with our company revenue growth.
In this way, the key company mission of SID “To lift as many people as possible out of poverty by means of giving the less fortunate a way to access free internet access” is also achieved. The less fortunate will be able in future to get free internet access by collecting tokens in Summary of the Whitepaper (version of 18th April 2018) exchange of consuming advertising but without paying a penny for it. Such obtained tokens are then to be used to pay for consumed internet megabytes OR users can cash-out token through traded exchanges where other SID users will buy those to consume on the SID eco-system.
One of the key features of this SID eco-system solution is that it will reward everyone, also the more fortunate well-off people of society to share their mobile data or private home Wi-Fi in exchange of tokens:
- Till to date any non-consumed mobile data at the end of each month, on most traditional network operator’s contracts, is simply lost. Our solution allows these users to recover part of that in tokens through obtaining tokens for sharing their mobile data with other nearby SID users, not letting those otherwise unused megabytes go to waste each month.
- Till to date any non-consumed home Wi-Fi data at the end of each month, on most traditional internet service providers contracts, is simply lost too. Our solution will allow SID users to recover part of that in tokens through earning tokens for sharing home Wi-Fi internet with other nearby SID users, not letting those otherwise unused megabytes go to waste each month.
Please be sure to check your network operator or internet service provider terms and conditions, because some have a small print stating that the internet they purchase is only for private use and thus not for re-sale. Although anyone can activate on a smartphone the tethering or hotspot function, the mobile operator who provides the SIM can disable this option remotely although this is rarely done anymore. SID therefore includes an end-user setting to allow sharing automatically its Mobile data or not with nearby SID users and is prompted to confirm. SID is the ultimate of de-centralization because only the end-user decides if it shares its internet AND if it gets paid in tokens for its shared internet.
In the same way as in the previous case, this SID solution incentivizes users to share their home or business internet data without giving their private or business password to any other person. Actually, traditionally, people used to give the password of their home Wi-Fi to visitors thereby exposing the security of everything connected to their internal Wi-Fi network. In our SID solution the user who is home shares internet with visitors through his Smartphone or tablet, over an encrypted proprietary link and therefore nobody has access to the internal Wi-Fi network at all.
Our technology SID-SDK is available also through a 3rd party APP, Dunkin Donut´s franchise in Spain called Dunkin Coffee, through Frinwo S.L. in Spain, which resulted in 250,000 downloads of which 91,000 active mobile users who in turn will share internet with our own future SID users. Download our APP from the Play Store and App Store from our web: https://ShareInternetData.io/.