SPHRE Token (XID) the Air Platform
Sphre is developing its Air platform to address one of the biggest challeneges we have today in a data driven online world is identity management. The challenge is that your identity information is split amongst many different areas and sites on the web for instance with the owners of that site have the ability to use and manage that information as they wish. This is the standaqrd centralized model of identity management.
Sphre envisions a system, based on the Bitcoin Blockchain that decentralizes the identity management process and gives the user control of the information. It will also allow the different applications to have access to A “user verified” digital identity. It segregates the user data information from the transaction ID information.
In the whitepaper (link below in Resources section), Shpre shares the advantages and challenges of the decentralized vision:
“Truly decentralized models rely on the entire network of participants to make decisions and run the business. Only very few organizations follow truly decentralized models to date. Prior to the recent emergence of further innovations within blockchain technology (e.g. the smart contract) decentralization was not considered feasible. Over the upcoming years, you will most likely see a massive shift into decentralized models. According to Johnston’s Law, “Everything that can be decentralized, will be decentralized.” Current examples of decentralized models include Bitcoin, Inter-Planetary File System (IPFS), Storj and others. The foundational structure of these technologies will be explained in the later sections of this Document.
“The biggest advantages of the decentralized business model are as follows:
- No single point of failure risk. Since there is no service provider (or centralized party) which the network relies on to function properly, if one (or several) network participants are corrupted or leave the network it will not affect functionality nor the other participants.
- Incorporates truly democratic principles by providing every participant an equal say in the vision, development, and objective of the organization.
- Fuels innovation via the enablement of experts from a variety of verticals to equally participate in operations and suggest changes.
A disadvantage of the decentralized model is that organizational issues have the potential to arise during the decision-making process if there is a lack of agreement among members. This issue is addressed and made much more manageable with blockchain consensus technology.”
Sphre’s Air platform will insulate the user’s identity data from the transaction itself, therefore creating another layer to the frightening problem of identity fraud. As mentioned above, Air allows user control over their identity and its verification as well as control over monetisation, online security and through smart contracts ultimately their privacy.
Sphre Air Token (XID)
The XID tokens will lbe issued using Omnilayer tio create the digital asset via Bitcoin’s Blockchain. Omni is a platform for creating and trading custom digital assets and currencies. The XID tokens will be used within the Air platform for identity based transactions and profit sharing distributions for sgreements that users can customize and engage in.
Sphre XID Token ICO
The crowdsale will start on June 1, 2017. There will be a totalo supply offered of 50,000,000 XID distributed during the crowdsale. There are 3 tranches with the first two having discounts as follows:
The first 12,500,000 XID will cost 0.000074 BTC which is a 20% discount.
The second traunce of 15,000,000 XID will cost 0.000086 BTC which is a 10% discount.
The remaining 22,500,000 XID will sell at 0.000095 BTC.
There will be an additional XID created during the crowdsale, not to exceed 5 million for items likefounder’s rewards, development bounties and community bounties.
The Sphre XID Token Sale Starts In: