What is Social Wallet?
Social Wallet is a platform based in the US that will allow users to transfer cryptocurrency through social media outlets. There are a few other projects on the market that are trying to do a similar thing, but Social Wallet already has a working platform that has integrated Facebook, Twitter, and all email providers. This platform will be launched when their token sale is either sold out or the token sale ends (April 27th). Their roadmap states they will be adding Instagram, WeChat, Twitch, Discord, Telegram, Youtube, SMS and others in the coming months.
Purpose of Wire Token?
Wire Token will be the Token used by Social Wallet and will be the first available token on the platform to send/receive (Social Wallet has been in talks with many other cryptocurrencies they will be adding to their platform).
The WIRE token is a PIVX fork which means they will have zero knowledge transfers (coin mixing and ZeroCoin protocols), instant sending via the decentralized masternodes and also staking capabilities. Currently 35,000 WIRE tokens are needed to be a masternode. The Social Wallet platform requires WIRE, to facilitate the sending process and pay the transaction fees as well as being its own cryptocurrency.
Also on their roadmap is the Social Wallet Debit Card, which will be a way to make purchases using the currencies available.
What problem is Social Wallet solving?
With an estimated 2.77 billion social media users, Social Wallet will introduce its platform to spread the word of cryptocurrencies. They will be using their already usable platform to create a very easy to use way of sending and receiving cryptocurrencies to friends, families, influencers, tragedy victims etc. with just their social media credentials or email addresses.
With just a few clicks from their platform your Grandmother, best friend or even a victim of a terrible natural disaster can receive cryptocurrency from you directly to their inbox on social media.
Today sending and receiving cryptocurrencies can be very risky and confusing to some as they have zero knowledge of which wallet to have, or which exchange to create an account on. With Social Wallet you will be sending the cryptocurrencies to whomever you choose and they will be able to set up their wallet via the link to setting up an account on Social Wallets platform.