Sidera..decentralized blockchain wearable device for easy cryptocur...

INTRODUCTION

The internet which is a global system of computer network has revolutionized communications as well as businesses, recently there are massive enthusiasm for the internet of things and blockchain technology across the globe which provides an opportunity to create numerous sharing application such as digital rights management, peer to peer automatic payment, foreign exchange platforms etc, While numerous sorts of shared economy scenarios are multiplying, few of them, up until now, use the Internet of Things and blockchain innovation to build numerous dApps. The use of IoT enables individuals to share their assets such as cars, vehicles, building's and informations by installing sensors and system network that helps to share and exchange data, also by integrating Blockchain technology into internet of things individuals can keep an immutable ledger of all the shared transactions. More so Blockchain and cryptocurrency transactions eliminate the role of intermediaries as transactions are done directly by both parties involved thereby enabling sharing applications to work in a decentralized distributed (P2P) mode.

Blockchain which is the underlying technology behind Bitcoin and other cryptocurrencies that exist today aims to break the monopoly both in financial and business ecosystem by allowing Bitcoin to be used to transact in a frictionles way without going through the stress of converting currencies and incurring charges and also with smart contracts technology individuals can be able to use cryptocurrency to perform their daily transactions in a secure, effective and transparent way.
However all this aim of creating Bitcoin is not achieved and its concept subverted which is the the bane of Bitcoin from entering mainstream economy,

Major challenges

These days, the only thing you can buy with a cryptocurrency are other cryptocurren-
cies making cryptocurrency to loss it's relevancy. The vast majority of people have no involvement with this process and no
interest. Until the average user can use cryptocurrency to buy a bag of rice or a loaf of
bread, the relevancy of cryptocurrency will be restricted to a small audience.
Another big challenge in cryptocurrency is complexity, cryptocurrency suffers from complexity for the average user, as managing private keys, public keys, blockchain concepts etc it’s are majorly out of the reach of the aver-
age user. Expert analysis shows that the next Billion users may even barely be able to operate
a smartphone device.

SIDERA WEARABLE PLATFORM

Sidera platform is created for consumerizing cryptocurrencies by ena-
bling their use in retail Point of Sale (POS) through a smartwatch and a contactless
smartband, just Bitcoin, Sidera has all the characteristics of decentralisation, Real Imple-
mentation, Open Governance and Incentivization that allows for the adoption of it's solutions across the globe.

Sidera is a complete end-to-end solution for contactless and smartwatch retail
point-of- sale (POS) including a full-stack reference implementation of all the components.
It involves a mobile application and point-of-sale (POS) terminals that are already
in use. All the components will, through open source and open specifications made available for everyone. By releasing the full-stack reference implementations as open source and open specifications, sidera can enable fair global distribution of the Sidera protocols and also promote sidera network

The Sidera network incentivizes participation in the platform through providing free hardware to
retail stores in the initial target regions, Users are incentivized to participate in the Sidera network through creating a simple to use platform and also it be easily accessible by all, with the convenience of mobile payments and the simplicity of a smartwatch. With a solution that decreases complexity and adds relevance of cryptocurrencies
to end users, sidera will see rapid mainstream adoption of cryptocurrencies. Sidera believes that the future growth of the wearable technology market would be driven by consumer
preference for gadgets, increasing growth prospects of next-generation displays in
wearable devices, and growing popularity of connected devices with Internet of
Things (IoT), thus the integration of these features in the platform.

TOKEN ECONOMY

Sidera token (eQUOS) is the platform's utility token built on ethereum blockchain, it be used in the platform for daily transactions at a relatively low cost, it will also be used to incentivize users to increase the value of the token asamy people join the platform.