It is evident that blockchain technology will serve many different purposes in the years to come. Especially when it comes to data retention and privacy, there are a lot of potential opportunities waiting to be explored. Pillar, a blockchain-based project with its own cryptocurrency, wants to provide a solution allowing people to take back control over their data. It’s a noble venture, but how does it all work?
What is Pillar Attempting to Achieve?
Most of us share a lot of personal and sensitive information on the internet without even realizing it. All of these digital breadcrumbs can be used by marketers and advertisers without our consent. It is time something changed in this regard, which is where Pillar comes into the picture. This new blockchain-based platform aims to build the world’s best cryptocurrency and token wallet, and to transform our daily lives in the process. It’s a rather ambitious goal, but there’s a lot of merit to this idea.
Turning Pillar’s Vision into Reality
According to the project’s website, Pillar focuses on three things. First of all, there is the Pillar wallet which stores and manages cryptocurrencies, including the native Pillar cryptocurrency. In the future, this wallet will also be able to store all of one’s digital assets, and even their personal information which can be shared with others if the user agrees to it. Bringing an end to data analytics as we know it won’t be easy, but it’s a change everyone will approve of.
Secondly, Pillar focuses on atomic ownership. It’s a term most people won’t be too familiar with, as it’s not something discussed out loud all that often. It boils down to letting individual users control and own their data at all times without having to rely on intermediaries. This is where the blockchain comes into the picture, as it allows users to retain control while still having an option to share certain tidbits of information when desired. It’s an innovative way of dealing with personal data.
Last but not least, Pillar wants to provide services to its users without embracing the app model. In the team’s opinion, applications are a trap for both personal data and attention. With all this in mind, it is evident the Pillar cryptocurrency will play a role of importance. It is a meta-token which can be used for various services. Micropayments involving cryptocurrency are certainly an opportunity worth exploring further.
The Road Ahead for Pillar
One thing that is slightly worrisome is that the roadmap for Pillar appears a bit unclear. While it is evident that building the wallet infrastructure is the top priority right now, there are no hard deadlines whatsoever. To some people, this may indicate the project lacks vision. Whether or not Pillar and the Pillar cryptocurrency will be able to meet people’s expectations remains a big mystery for now.