Sapien Wallet (SETI) ICO Review
Sapien Wallet is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.
|Ico Time||27 Apr 2020 – 26 Jul 2020|
|Token Name||Sapien Wallet|
|Price||1 SETI = 0.065 EUR|
|Soft Cap||500,000 EUR|
|Hard Cap||1,500,000 EUR|
More about Sapien Wallet (SETI) ICO:
We created Sapien Wallet because its about time the world had an application that allows everyone to use cryptocurrency in day-to-day payments. It is also Sapien Wallet’s goal to bridge the gap of distrust among humans with our Human and Business Rating, allowing people to accelerate the speed in which they build trust Sapien Wallet is looking to bring you the most user-friendly and intuitive lightwallet so that everyone can enjoy the benefits of this amazing technology. Purchase Sapien Wallet’s equity tokens which will represent your share in our company and become part of the team. With your contribution, the Sapien Wallet team will ensure our lightwallet explodes with popularity.
Sapien assumes that there is no trust between human beings, whether it is your kids, parents, best friends or business partners. To build such trust we came up with a simple and effective solution – start rating and reviewing people after concluding a transaction. We built a multi-modal platform with a core module – Human Rating – an instrument to identify persons human capital score, but also a technology that will help people to become a better version of themselves.
While governments are trying to create an illusion of security by enact- ing data protection laws, the world, as well as the people, are still looking for openness. People want to trust each other more, because the feeling of distrust is tiring and potentially costly in terms of money and time. Sapien is the key to transparent new open relationships.
Sapien’s goal is to bring people together and to create a digital society built on trust, supported by global Sapien rating. We have developed a global ranking platform for every human and every business on our planet, that will create mutual benefits for all users.
Cryptocurrencies and other blockchain-based technologies have the potential to make the world more secure and self-governed. However, to this day, no consensus-backed currency has been able to appeal to the mass market and reach mainstream adoption. Bitcoin has established itself as the ”digital gold”, and Ethereum has proved to be an eﬃcient platform for token crowd sales. However, there is no current standard cryptocurrency used for the regular exchange of value in the daily lives of ordinary people. The blockchain ecosystem needs a decentralized counterpart to everyday money. There is a need in a truly user-friendly crypto wallet and mass-market cryptocurrency. Despite their revolutionary potential, existing cryptocurrencies lack qualities required to attract the mass consumer. There are three main hurdles in today’s crypto-environments:
• The established blockchain networks — Bitcoin and Ethereum — play important roles in the ecosystem. However, they don’t have the capacity to replace VISA or Mastercard. In their current architecture they are limited to a maximum of only 7 transactions per second for Bitcoin and 15 transactions per second for Ethereum, resulting in insuﬃcient speeds and higher transaction costs. This is the scalability problem.
• Regular users starting to engage with Bitcoin and similar technologies often get confused when trying to buy, store, spend and send their coins. In a sense, cryptocurrencies and blockchain are a very new and emerging technology. It is diﬃcult for the average person to grasp the concept of a decentralized digital currency.
• The market of goods and services that can be bought with cryptocurrencies is limited, and the demand for most crypto-assets comes mainly from investors, not consumers.
The current state of blockchain technology resembles automobile design in 1870: it is promising and praised by enthusiasts, but ineﬃcient and too complicated to appeal to the mass market. As a result, no cryptocurrency or decentralized platform has gone truly mainstream, and centralized solutions continue to dominate the market. Exchanging value should be as easy as exchanging information, and blockchain technology oﬀers the ideal foundation to make this a reality. To reach mainstream adoption, a cryptocurrency — and its underlying blockchain design and ecosystem — requires:Speed and scalability that allows for processing millions of transactions per second and potentially accommodating billions of active users.
• Intuitive and user-friendly interfaces that enable an average user to easily buy, store, and transfer value, as well as use decentralized apps in a natural way.
• An engaged user base that drives demand for services in the ecosystem and provides pre-existing critical mass for future growth.
Sapien is uniquely positioned to establish the ﬁrst mass-market cryptocurrency wallet by providing a platform that combines these properties. Sapiens big goal is to become Visa/Mastercard alternative for the new decentralized economy. We believe that a whole new economy saturated with goods and services sold for cryptocurrency will be born — similar to WeChat’s ﬁat-based marketplace, but not conﬁned to a centralized service.
Trust relationships between humans
Trust pervades human societies. Trust is indispensable in friendship, love, families, and organizations, and plays a key role in economic exchange and politics. In the absence of trust among trading partners, market transactions break down. In the absence of trust in a country’s institutions and leaders, political legitimacy and the citizen’s peace of mind breaks down. Trust contributes to economic, political and social success. The lack of trust has evident consequences for real-world issues in health, politics, terrorism, the workplace, and personal relationships. For example, if you don’t trust your doctor, it is much harder to beneﬁt from professional advice. People have to trust each other to cooperate, build relationships and get beneﬁts. We understand how much credibility and trust value for everyone in our modern world. And Sapien is going to break the ice of distrust. The company aims to solve trust issues between individuals in a technological way, ensuring data security for every single person. We believe that ﬁnancial transactions is more revealing and provides more insight on human than sites such as LinkedIn or Facebook. Also, this will be information that you can trust. The data is encrypted and the hash is stored on the Jaxnet blockchain, your data is kept private and only shown upon your approval of a request. As it stands, there is no uniﬁed global rating, in which individuals can rate other individuals or businesses (and vice-versa). There isn’t a trustful rating that someone can refer to when making decisions regarding trust when it comes to another individual or business. Sapien’s mission is to connect trustworthy people and businesses for beneﬁcial interactions and promote a more trustful environment via the Sapien rating system.
The beneﬁts of having such a trusted platform:
• More beneﬁcial business transactions
• Connecting trustworthy people/business with one another using fewer resources
• An overall reduction in risk
• Decisions can be made more quickly and with more accuracy
• Encouragement in positive human behavior
Other unsolved problems
User unfriendly payment solutions
Solutions created by Venmo, the upcoming Facebook’s Libra and Telegram’s TON are at the low starting to bring payments to a new level of simplicity and accessibility for users all around the world. For Sapien being user-friendly means using simple nicknames or usernames for transactions and making it incredibly easy for users to send and receive payments. At the moment, most cryptocurrencies are diﬃcult for the average person to operate, because it involves them being in charge of their own data security (which is troublesome to most) and also user-friendly interface users can utilize to access their wallet doesn’t exist. To solve this, Sapien is launching Sapien in parallel with the Jaxnet Blockchain. GoSapien will be a centralized user-friendly interface that matches a user’s cryptocurrency public key with a username. This way, users are able to use an easier, secure and more familiar interface when accessing their cryptocurrency. Also, sending and receiving cryptocurrency will become as easy as sending someone a message on a messaging app. Also, when transactions are made on GoSapien, it will encourage the user to give a rating and review after the transaction has concluded, the data will then be stored on the decentralized Sapien Blockchain.
High Cost and Complexity of Financial Networks
1.7 billion adults around the world are out of the ﬁnancial system, not having access to traditional banks, even though one billion of them have a mobile phone, and almost half of this number has Internet access. All over the world, people with less money are paying more for ﬁnancial services. Hard-earned income are eroded by fees, from remittances and wire costs to overdraft and ATM charges. Sapien’s biggest mission is to connect the world in a uniﬁed ﬁnancial ecosystem. We believe that global, open, instant, and low-cost movement of money will create immense economic opportunity and more commerce across the world.
Blockchain Scalability Problem
The existing Blockchain technology has yet to ﬁnd its global audience. The massive use of blockchain and cryptocurrency technologies is hampered by their volatility and low scalability, which until now have made them a bad way of accumulation and a means of money circulation. A major issue as to why cryptocurrencies and blockchain technology hasn’t caught on is because of the blockchain scalability issue. Most people are unwilling to wait any amount of time when having to make a transaction. To put in perspective, Bitcoin can only process 7-10 transactions per second, compared to 1,700 per second by the credit card company Visa (who can theoretically process upwards of 50,000). The more a cryptocurrency or blockchain becomes popular, the more people will be transacting on it, leading to immense traﬃc and waiting time. Sapien believes that we have found the solution for the Blockchain Scalability Problem.
There are many competitors which operate with certain elements of Sapien, however, they cannot be regarded as direct competition as their service does not have certain key aspects that Sapien have and/or operate in a similar way and serves another purpose. Listed below are competitors that have the most similarities to Sapien, that may have the potential to reduce Sapien’s market share.
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