Being one of a very few blockchain startups with a working product already in the market, SID has moved to solidify its niche market through strategic partnerships that targets to add value to the business of expanding internet access. Yes, not only doing business but also giving back to society by moving the needle in poverty reduction efforts that has been a challenge in the world. Recently SID rolled out partnership with SENTINEL which has been credited for developing the dVPN, one of its first dApps that demonstrate the power of the Sentinel Network. Under the SID-Sentinel partnership, the SENT token will be a part of the SID token economy. SENT tokens could be utilized as a privacy layer for users accessing the SID network, thereby exposing Sentinel’s node hosts to a broader scope and scale of utilization. Also, SID crowdsourced internet sharing will provide internet connectivity to less fortunate members of society and offer an extra layer of security via integration of the Sentinel dVPN. This partnership demonstrates SID’s commitment to user privacy, especially in public Wi-Fi networks, to provide an interoperable network layer for distributed services. This partnership can potentially lead to a new generation of decentralized privacy enhancing apps built on top of SID and Sentinel’s decentralized infrastructure.
The next partnership was with URAllowance and introduces something new called Family Smart Contracts which is a way for families to use smart contracts to keep track of responsibilities such as chores, school work or other goals. All of the URAllowance users will be able to customize their Family Smart Contracts to suit their individual family needs. This partnership basically brings Blockchain technology enabled use of smart contracts at the most basic unit of the society which is a family. The use of recorded agreements between members of the family has never been possible before this innovation by URAllowance which enables a family to meaningfully set objectives or targets to be achieved by the members of the family and a reward/payment is affected based on successful completion, thereby enabling interfamily trade. Despite the aim not being profit motive from family member but rather to learn the important lessons in trade and develop financial responsibility within the members of the family. SID Platform enables the subscribers who are members of a family to utilize this SID innovation to improve the internet connectivity of the URAllowance App thus increasing the adoption and use of URAllowance Family Smart Contracts.
The partnerships rollout so far is a validation of SID platform’s value addition to its subscribers, this valuable partnerships aims to bring specific solutions and resolve specific problems that has never been solved before thus providing synergy among the partners and join hands to improve the customer experience as well as leverage on the technology to make people´s life better.
The SID product boast of originality as it is one of the few patent pending solutions, it also boast of technology of the future as it is built on the Blockchain technology, powered by Stellar to enable micropayments that will enable free internet access to all regardless of their ability to pay or not, but even more exciting is users being paid in SID tokens for just free internet usage. This will be possible in future through users consuming advertisements and earn SID tokens. The SID micropayment system that is based on the Stellar Blockchain will have the ability to conclude transactions between SID App users, in a matter of seconds, taking future mobile e-commerce to the mobile phone of SID users.
This technology has the potential to shake-up the existing telecommunications industry as it converts each mobile user into a potential internet source for other SID users. The other trade enabled by SID platform users will be selling excess bandwidth to other users on the SID platform thereby opening e-commerce even further. This will truly provide the citizen of the world with the ability to enjoy their basic human right of access to internet, reduce global poverty and reduce the digital divide.
The SID market opportunity is massive, as it is combining both the smartphone and the Wi-Fi markets all in one. Some market data: According to Statista, Smartphones numbers are outperforming public Wi-Fi hotspots by 5.3B to 0.279B meaning by more than 18 to 1. These figures clearly show the importance we give to Share Internet Data (SID) through smartphones as being the core of our SID platform technology accessed through our SID APPs and through our future commercial customers SDKs.
What SID technology is doing is enabling to add to the existing 279 Million current global public Wi-Fi hotspots to a potential staggering 5.3 Billion moving hotspots on demand (meaning smartphones and tablets). That market opportunity already exists now in 2018 and is expected to keep on growing! Add to that the fact that still to-date globally, around 4 Billion people still have no internet access. There is still 20% of the population without regular internet access in Europe and North-America, 53% in Asia and a staggering 65% in Africa. That in addition to the previous, shows the massive market potential: SID can carve a part out of these potential users and fulfill its mission to lift a certain segment of the 500 million people out of poverty through internet provisioning, provided sufficient funding can be raised and allocated in the coming years.