Pillar – Replace apps with services.
Pillar seems to be revolutionary – it promises the integration of all personal data into a single wallet. The new convenience of the project is unprecedented, as a single network reconciles an entire world of separate applications. However, the final product is far-off, due to a lack of clear planning and the hurdles of cooperation. The Pillar Project claims that it will be able to connect thousands of software companies, exchanges, and banks to a single network. This would create competition and increase the variety of services. To do this, partners would have to be willing to give up login networks and adopt the atomic ownership, key-based system.
Companies must also accept the Pillar token to perform services on the network. The token, like any other blockchain-based currency, is liable to fluctuate in price or lose its value altogether, creating risk. Ultimately, the adaptations necessary to join with Pillar may discourage other parties from collaborating with the project, preventing the wallet from operating at full potential. Another issue is the security the digital wallet. The method of access is a single, private key. This key, while held in the hands of users rather than corporate databases, is still vulnerable to physical theft. Pillar states that responsibility for data security is up to the user, pointing to possible hardware solutions such as keycards. The project promises for rings and even chip implants to be available in the future, but does not elaborate. Essentially, Pillar users are left at risk for the theft of their private keys and thus, all of their data The main suspicion of Pillar is its lack of planning within its whitepaper. The project often refers to its future vaguely, with no surety of success.
The paper speaks of artificial intelligence and forking prevention, yet fails to provide concrete explanations of how these goals will be accomplished. Rather, broad terms such as “small things” and “existing vocabularies” are used A lack of specific citations may dissuade investors and ground the project. Despite Pillar’s setbacks, the project’s vision is enticing. If Pillar succeeds, the investments would be truly worthwhile. A self-sustaining economy within a wallet, providing security and streamlined data access, would be unprecedented. The project would further center the technological world around data, connecting millions of people to a diversified network. If Pillar Project can overcome its initial challenges of investment and continue to detail its planning, it could truly revolutionize society in a new way.
Taking in consideration there are a lot of ICO’s at the moment it’s hard to choose in which you invest and which one you let pass by. My personal opinion on this (no investment advice) is that Pillar as it is offers al quite some oppertunities and with that innovation we haven’t seen in upcoming project. With other words a a go if you are into innovative projects. Remember that blockchain itself is innovation, but not everything needs to be in the blockchain. Having a project with a wallet made for users can be the way to mass adoptoin of it’s chain.