FAQ
We are a community of blockchain bootstrappers changing the world through community, collaboration, and purpose. We want to build a worldwide network of blockchain innovation centers and a diversified portfolio of profitable products. We’re very open and inclusive - come join into our Slack channel and introduce yourself.
The Pillar Project is part of 20|30 AG, a company incorporated in Switzerland. The Pillar Project team is international, with our team members and advisers located all over the world. Near term plans are for an office in London.
On July 15 at 08:00 GMT, we will offer a cryptographic token for sale that is a unit of value in the Pillar ecosystem - an open-source wallet that will eventually become the operating system of your future devices.
We hear every day that we are losing the war against cybercriminals, who steal around $500 billion from data centers yearly. Personal data is becoming more important and more difficult to manage. We are building an open-source solution, so billions of people will have a safe place to put their data and all the services that will help them manage their daily lives. Our project is based on the book Pull, by David Siegel. We are purpose driven. If you believe in what we're doing, please join us.
If you're not an American citizen, you can show your support of this project by purchasing pillars. Please follow the instructions to participate in our crowdsale - you have to be prepared to purchase when the sale begins. You can also join us - we’d love to have you. Please sign up for our newsletter if you’d like to be kept informed of our progress..
We don’t believe it’s time for such systems. They will have a very limited market of hard-core crypto enthusiasts. We applaud those efforts, but complex systems are hard enough to build without the limitations of running them on the blockchain. We believe the wallet is the “killer app” of blockchain. We will apply atomic ownership of data and cryptographic security to build the world's best wallet, and then we'll turn that into your personal digital assistant.
They are reading this. They are buying our tokens. They are already working with us in our Slack. They are our amazing advisors. They will join us in Slovakia. They are you.
We work for purpose. We don’t want the people with the most impressive resumes. We want team players who can ship software every week and marketers who can explain endlessly to the world how to use it and why they should try it. We have a strong core team and good advisors - we’ll need many hands to build this platform. Good people will be attracted to it.
There will be a presale in early July. Contact [email protected] to get on the list.
We believe that what we are doing will change the world. We’ve been planning this for almost 20 years. Our target is about $30 million, and our cap is around $50 million. The more resources (and passion) we have, the more chance we have against the huge companies that will try to kill us.
We will be planning our project, getting to know each other, and putting our team together. We have a volunteer culture - we value attitude and friendliness over skills. Anyone who is willing to pay his/her own way to come to our event to plan the future with us is probably part of the team - better than looking at resumes and interviewing. Want to help us plan it? We need some volunteers to help set everything up.
The Pillar token (ticker symbol PLR) is a ERC20 token issued on Ethereum blockchain. Token holders can easily store and manage their PLR tokens using the open-source MyEtherWallet.com.
No, residents of the United States can't participate in the Pillar tokens distribution because of the US laws. You can participate in the Pillar ICO if you are neither a U.S. citizen or permanent resident of the United States, nor have a primary residence or domicile in the United States, including Puerto Rico, the U.S. Virgin Islands, and any other territories of the United States.
Why?
There are two problems:
First, the SEC could see our tokens as a security. While there have been many ICOs and many people have said that a system/utility token should not be considered a security, there is still a chance that the SEC could rule otherwise. In the US, it's not legal to solicit the public to an unregistered offering.
Second, Congress is considering adding "electronic money" to the current Anti-Money-Laundering laws. If that happens, every American who moves money into or out of the US will have to declare it. This would be a huge setback for cryptocurrencies. As long as that law has not been signed, it's not in effect. Could it be applied retroactively? It's difficult to imagine. So if the law is signed, it would most likely have implications for future transactions above $10,000.
Each person should consult his/her own legal advisor. We are doing our part in not soliciting Americans. Ultimately, we can't stop them from buying.
Pillar tokens will be issued automatically via Ethereum smart contract. The ICO smart contract code on GitHub will be public and available for audit by anyone.
It depends on the crypto exchanges decision to list PLR tokens. We are already communicating with some major cryptoexchanges regarding listing PLR tokens. We expect at least one exchange to accept our tokens soon after the ICO is over.
The minimum funding amount for the token sale is $8,000,000 (8 million USD), if this is not reached - the money will be refunded to the participants. There is no particular minimum for purchase - you may buy as much or as little as you like.
After the sale period, all unsold tokens will be put on ice for ten years.
No. At the end of the ICO, PLR token creation will be closed permanently
Yes, view the 20|30 Pillar Token Terms and conditions.
We don't plan to burn tokens. Burning means destroying tokens permanently. Instead, we will use a smart contract that will hold the tokens for ten years, then unlock them.
We call it the Pillar Gray Paper. It's here:
https://pillarproject.io/wp-content/uploads/2017/07/PillarProjectGrayPaper.pdf
Because David has written so many white papers that he got tired of them and decided to write a gray paper. Read The Story of the Pillar Project to learn more.
This is where we are with blockchain at the moment. You need a wallet that can see tokens, and MyEtherWallet is about as easy as it gets. Eventually, you'll use your Pillar wallet and it will be much easier!
There's another reason - getting your money from your bank into an exchange requires a banking license. So there's a big divide between the licensed exchanges and the native crypto wallets and crypto-exchanges that don't deal with fiat currency.
This token, like almost every other blockchain-based token, has no profitsharing mechanism. It does not represent ownership or equity in the project, and the token is not a security. As with almost all other "Initial Coin Offering" tokens, there is inherent value in the tokens - they will be the unit of payment in the Pillar system. In many other cases, the value of the token has gone up in the months after the token sale. However, the token will be priced by the market, and it's worth being aware that other tokens have not increased much in value and several have gone down. We have a long-term view. We believe our tokens will become valuable as our system becomes more real and gets traction with customers. As an open-source project, we believe people should have their own personal operating system, without any company owning it. If we work hard and get traction with users and OEM customers, we are sure the value of our token will rise.
We discourage investors who plan to sell for a quick profit. We are aiming to change the world. We are looking for supporters who believe in our vision.
If you used MyEtherWallet to purchase your tokens, you'll find a tutorial on the Purchase page of this site. If you used another wallet, please explore that product's community.
You will want to put them into "cold storage." That means you leave them in your MyEtherWallet (they aren't really there - they are on the blockchain) and you store your password, private key, and address on a USB stick (or two) away from your computer. You can easily learn how to do this by typing "ether cold storage" into YouTube. Here, we did it for you.