By Editorial Team
When the United Nations declared basic access to the internet as a human right in a 2016 resolution, Share Internet Data Ltd saw this as a gateway to leverage and create an app that will advance the democratization of internet access.
Following a successful launch, the SID platform now expands to include also the unbanked through its partnership with LDJ Capital Inc to create LDJ Digital, the digital banking solution based on the SID technology of free internet access.
The architecture built on the SID technology is the core foundation that laid the groundwork for the possibilities in digital banking central to the principles of LDJ Digital.
To better understand how the SID technology improves net-neutrality, picture this: The smartphone personal hotspot or tethering function is controlled by the SIM mobile network provider, and as such this feature requires the person in need of internet to obtain the password from the other device of an unknown owner. In contrast, the SID patented technology uses its own proprietary solution where the SIM mobile network provider has no access and as such cannot switch it off or limit the speed. What the SID technology does is create a random one-time use password between the two nearby SID users’ smartphones – the provider and the receiver – and presto! Internet data is shared seamlessly.
With free internet accessibility, LDJ Digital truly differentiates itself from other mobile banking services and platforms. The SID technology and blockchain technology supporting LDJ Digital makes it the most accessible and affordable option for the unbanked segment of the society.
It’s tagline “Mobile banking for your generation” says it all. It is for the digital generation – their money and other cryptocurrencies. Done their way. All fiat currencies as well as digital currencies are easily accessible and tradable – paying no fees while earning rewards every step of the way. It also acts as a personal debit card that one can use to spend for payments and for in-store and online purchases.
Jose Merino, SID Chairman and LDJ Digital CEO, says “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 setup to support a robust community that embraces educational, social, and financial inclusion among others.”
Priority access will be given to the first respondents in the waitlist when the 1st digital bank app launches this 2019 and members will be able to create their online banking account in under 3 minutes. This will give them access to a digital online bank account supporting multiple currencies like EURO, USD, GBP and multiple cryptocurrencies like BTC, ETH, LTC, etc with an associated debit card for shopping globally in stores or online.
The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of The Soho Loft Media Group.