Share Internet Data (SID) Partners With LDJ Capital For A Digital Banking Solution Project, LDJ Digital
Share Internet Data Ltd (SID), an internet crowdsourcing company has recently confirmed through a press release that they are partnering with private equity firm LDJ Capital to work on a new project called LDJ Digital.
According to their website, one of the key mission SID project is:
“To lift as many people as possible out of poverty by means of giving the less fortunate a way to access the Internet.”
SID proposes a solution that is different from the current methods being implemented. Currently, users only obtained the Internet directly from traditional service providers or mobile network operators or Wi-Fi hotspots. SID aims to offer smartphone users the possibility of accessing crowd-sourced internet shared by other users on their ecosystem.
This can even be accessed even if the user has no coverage or no data credit or simply no Internet access at a given location but they are nearby other SID smartphones who do have Internet access. It is done by using their innovative crowdsourced Internet in a peer-to-peer or peer-to-multi-peer structure overseen by a patent-pending proprietary technology.
A user can trade tokens for megabytes of shared internet which will be implemented through utomated way through contracts secured by a blockchain. Such trades will create a liquid token (virtual voucher) market that could possibly trigger the unleashing of a vast amount of people coming out of poverty simply by the fact that they would have finally a means to access the Internet.
Given below is the video that sums up how this technology works.
SID Chairman and LDJ Digital CEO, Jose Merino said:
“Free access to the internet opens the floodgates of access to a host of other global resources. Financial inclusion is one of the logical results of this. The SID ecosystem is set up to support a robust community that embraces educational, social, and financial inclusion among others.”
Another project that is working on solving a similar problem is Napster creator Shawn Fanning’s company Helium. With 200X the range of Wi-Fi at 1/1000th of the cost of a cellular modem, Helium’s “LongFi” wireless network. Its transmitters can help track stolen scooters, find missing dogs via IoT collars and collect data from infrastructure sensors.