A wallet is only as good as the money inside of it.
The same goes for a wallet system.
This is why the Pillar Project has introduced tokens: Pillar tokens, or PLRs, to be precise.
Even with all of the obvious benefits of an open-source wallet system, it’s important that users can actually make use of the system to carry out the transactions that carry the service exchanges they rely on, day to day.
This is an ERC20 utility token, based on the Ethereum blockchain. It’s independent of cryptocurrencies, though, as you’ll read, we’ll be making an effort to bring in other currencies under the PLR umbrella.
Ready to learn more? Let’s get to it!
In order to bring value to this system, the token will be the one element with a price tag associated with it. The wallet is open source and free. The same goes for the platform. This is a clear benefit to the user, but in order to drive the functionality of the system itself, we’ve incorporated the token as a service-based utility that requires a purchase. The upshot of this is that users gain instant, non-registration-based access to the specific services, via the system, while simultaneously helping to keep Pillar afloat.
As the Pillar system advances in popularity and more services begin making use of it, businesses will have the opportunity to tie their projects to PLRs. This means that, for example, a user can assign all of their billing for a car repair to their wallet, making copies of invoices, and using their banked PLRs to conduct the transaction.
Some important factors to keep in mind, regarding this development, are:
This is the first browser we’ll be integrating, owing to its inbuilt token payment functionality. Creating a complete user experience is important to our business philosophy. With this in mind, browser-based payments will help to facilitate payments as necessary.
PLRs are our primary form of payment, but we understand that other exchanges are already in use, across various sectors. Part of our long-term plan is to introduce a more extensive exchange marketplace, integrating cryptocurrencies for specific purposes, underneath pillars, which can be used to pay for anything.
Taking both the Brave browser and varied exchange into account, we would like to create a system where users can use any combination of flat currencies, cryptocurrencies and PLRs to facilitate sales of services, in any direction, between users and vendors.
Crypto-currencies are no longer the future. They’re the present.
As more companies bring digital currencies into their payment systems, the need for a wallet service becomes essential to the entire process.
With that, in turn, comes the clear need for an overarching token system that facilitates services and purchases, through the wallet. This kind of currency gives businesses connected to a wallet system such as this an economic ecosystem to play with.
The PLR token system provides this kind of framework for businesses.
Excited to try it out? Let us know in the comments section, below!
