Sidera was loud and clear when it founded the solution to the problems of Bitcoin of being too complicated and irrelevant.
Key Statistics
Premise
4.5/5 – Excellent
Sidera was loud and clear when it founded the solution to the problems of Bitcoin of being too complicated and irrelevant. Honestly speaking, most of the general public are still confused on how cryptocurrencies work. Since blockchain works in digital aspects, some consumers may choose not to be involved in crypto-tradings. It will only be widely accepted in the market if everyone can use cryptocurrency to buy their food or things with it. Some individuals do not want to be included in the world of cloud or digital wallets.
It is when Sidera wants to enter the picture with its contactless smartband and smartwatch. You are literally wearing the future on your wrist, and this is what Sidera wants the users to feel and see. It is a tangible item that includes a point-of-sale (POS) terminals and mobile applications. With this Decentralized Wearable Devices (DWD), users can send crypto in a more revolutionary way than how it originally started in the crypto community. DWD allows wrist-to-wrist transaction even if you are offline and it is fully encrypted as well.
Team
4.5/5 – Excellent
Sidera admitted being significantly influenced by crypto-community since BitCoin discovery. The Founder, Camillo Piscitelli, found out about BitCoin in 2009 and 2012. He thought that he should give BlockChain the public resonance it lacks but deserves.
The company has a stabilized Development Team and a wide range of Business and Marketing Team. It shows how much they want to dominate and succeed with their SmartBit Project. Also, they have well-trusted advisors that are part of their Security Team, the Security Brokers. They specialize in the security services and global cyber defense.
Token
4/5 – Good
Sidera’s token and EQUOS target amount of $15,000,000 with a current total supply of 51,000,000 EQUOS. Its soft cap is amounting to $1,500,000, but they will allow refunds if they do not reach the target. Meanwhile, its hard cap amounts to $15,000,000.
eQUOS tokens will also be converted to EQUOS coins. 1$ will be equal to 0,5 EQUOS
The tokens are possible to be exchanged with the Sidera SmartBit devices like BitBand and BitWatch.
Risk
4/5 – Low Risk
The possible risks that may occur with DWD are when you lose your phone or the smartwatch itself. DWD operates with a companion of a smartphone or PC app through Bluetooth. However, Sidera team did well in securing both items. The wristband must be in range with the phone for someone to be able to log in to the companion app. Also, the app supports fingerprints security and facial recognition. It goes the same way when the wristwatch is lost.
Say, the one who got the smartband downloaded the app on his phone; he should pair it again which requires mnemonic phase. Additionally, the wrist-to-wrist payments need a PIN, and the body sensor will deny the access.
Now, what happens when both the watch and the phone got lost? It will still block all unauthorized access. We can say that it indeed operates in a secured technology.
Summary
Very Good
Regarding its use and security, Sidera is doing its job at its finest. Its smartwatch that can be turned on into Ghost Mode wherein it will look like a regular watch is remarkable. It can be a standard wristwatch with time, notification, and weather features on it. The user can also save addresses in the address book that will quickly let him send funds anytime. With the PIN, there is assurance that the transaction is permitted and protected.
Also, 1% of its collected funds will be used for charity. Who does not love a company that knows how to give back, ensuring that it is doing its job to the society?
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The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.
Reviews
Good Job on Use and Security
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