Pillar project launches iOS and Android wallet apps

The long-awaited Pillar Wallet (PLR), designed to be the”easiest” mobile token wallet to use, is now live.

Pillar described the product as “crypto humanized” with friends, usernames, chat, notifications, and support, and told users this morning to “get the app and claim your username”.

First major release since the July 2017 ICO

The Pillar project began in July 2017, shortly after their ICO raised $20 million in ETH. The goal of the project is to create “the world’s best cryptocurrency wallet”. They plan to do this by creating a “personal data locker” that can securely enable the management of your digital assets.

This data locker concept very much fits into the self-sovereignty philosophy popularised by many early crypto adopters.

Wallet features

Pillar listed a number of essential features of the wallet, including: “Full control of private keys, hundreds of ERC-20 tokens, the ability to view real-time transactions (without leaving the app), and the option to use USD, EUR, or GBP as a base currency.”

There has been no mention of any native fiat links with the initial release. However, one would assume users can operate with any number of private stablecoins available on the market today (under the supported ERC-20 standard).

Future plans

Now that the wallet is available, next up on the agenda for Pillar is the Offers Engine, which is due for release in Q4 2018 – Of course, we already know that the wallet is late from its promised Q3 delivery, and with the year almost over, the Offers Engine is likely also delayed.

The Offers Engine will allow users to buy and sell tokens and cryptocurrencies. Although initially focused on digital assets, this engine will also serve as the foundation for Pillar’s e-commerce platform.

It will be interesting to see how this will impact partnerships between the platform and other entities like 20/30 Labs Ltd. This company helped launch the project, so I’m intrigued to see if they’ll get involved in activities like market-making and as an initial liquidity provider for new ICO markets.

Future plans also include an active ICO marketplace that will act as a “regulated platform for companies and start-ups to launch ICOs directly to qualified investors”.

Community engagement

Since Pillar’s inception, the project has had a focus on direct community engagement. It has managed to build a community by adopting a transparent approach to funding, spending and development.

A lot of the potential believers in the Pillar wallets are seduced by a roadmap pointing towards self-sovereignty and the promise of a “pull-ecosystem”.

In terms of the market, the Pillar Token is up nearly 50% since last week to reach a lofty market cap of $13 million, that’s $7 million less than they raised in their ICO.