SIGLO : STARTING A NEW PLATFORM ON BLOCKCHAIN ETHEREUM

http://siglo.com/

We are excited to announce the launch of the Siglo Protocol built on the Ethereal blockade that will be used to facilitate free access to cellular connectivity for prepaid customers in emerging markets. Starting in Latin America, we connect the airtime sponsorship with smartphone subscribers and create a decentralized mobile network backed by value transfers between users, providers and brands.

Smartphone penetration is growing at an impressive rate but although more and more people have smartphones in their pockets, the high cost of data and connectivity makes it impossible for most of the world to have consistent access to the network.

Siglo Protocol

In emerging markets, increased access to cellular connectivity is undeniably creating new economic opportunities. We look forward to empower smartphone users in this market by removing barriers that previously prevented them from participating in the digital economy.

Siglo will also offer brand scalable solutions to connect with customers in some of the fastest growing markets in the world. Transactional deductions of ecosystem benefits from unchanged and auditable textbooks on Ethereum block, including brand transactions, user transactions and user-to-user transactions. By tokenizing access to mobile airtime, Siglo will be able to facilitate increased access of unadvantaged users to the network through the creation of decentralized mobile network creation.

Background

We built Siglo for the success of our Android Pig.gi app, which has been used by more than one million smartphone owners in Mexico and Colombia to access the internet, adding blockchain layers above the previously established off-chain data rate point, called Pig.gi Coin. More than 65% of these users are not labeled. Launched in 2016, Pig.gi has generated over one billion impressions for its brand partners, the brand has received over 1 million consumer opinions, and we have distributed 45 million Pig.gi coins to users. We have collected a lot of new data that maps the customer’s journey from the initial discovery to the final transaction.

Solve the problem

In the Mexican market, 61% of adults do not have bank accounts and by 2016. In Latin America, 85% of smartphone connections are paid in advance. For this user, 500MB earnings require between 8 to 40 hours of work, based on average wages and top-up costs in Mexico and Brazil. Getting top-ups for mobile connectivity requires travel to supermarkets, gas stations or small roadside shops. By using the Pig.gi app, these users can get airtime toptime during their trip, at home, or whenever their schedule allows them to interact with apps — giving them the ability to connect more than ever before.

Siglo Token

To provide top-ups on a scale, Siglo tokens will be launched as the first token that enables providers and brands by rewarding consumers directly with mobile connectivity in return for engagement. We hope that the Siglo token generation will measure platform expansion that will provide benchmark access to airtime as well as expand ecosystems in new and upcoming markets. As the user grows, our data set becomes stronger and demand for data increases.

Siglo’s value proposition is unique because it is launched into a marketplace where loyalty and significant participation has been achieved through Pig.gi’s existing user base of 1.2 million users in Mexico and Colombia.

The token economic challenge is to balance the volatility of a free-floating token with the need for a currency that faces a stable user in a market where advertising costs and mobile credit costs vary. The problem will be discussed in two levels:

Siglo tokens that allow exchange rates in Siglo applications, for example between Pig.gi apps and other Siglo apps
off-chain coin data connectivity that matches the price of local market products, such as Pig.gi coins provided to users when they interact with content and brands.

While currently, the Siglo protocol will be used in Pig.gi apps with Pig.gi coins, in the future, this could be a gift coin or points distributed in different markets at a rate that is a function of mobile airtime charges, advertising costs, and the value of local fiat currency.

The value of these off-chain chains varies between markets and applications, but remains at the cost of local products. To purchase products and top-ups from local carriers, users can exchange their data coins. In stage 2, users can also purchase Siglo tokens with their coins to exchange them on third party exchanges for other tokens or between different Siglo apps in the future — we aim to build exchange exchanges between protocols and peer to peer transfers. .

Although Siglo token prices on the open market may fluctuate, local top-up prices in Pig.gi coins remain stable. It is desirable for transactions by users, especially in emerging markets, where it lacks understanding of financial dynamics.

Look forward to the announcement of the official announcement and see one pager for further technical details. If you want to see full whitepaper, emailtoken@siglo.com .

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