The Pillar Project, organised by Twenty Thirty AG has released news that during their first hour of sale, $12 million worth of Pillar tokens were sold. The Swiss-based Pillar Project sale will be live until 8pm tonight, Monday 17th July, and by then it is expected that tokens worth $50 million will have been sold.
The founder of the initiative, Davis Siegel has said via a YouTube video filmed from Pillar Project Mission Control that the surge of visitors to the site when the sale was first launched led to the website being down for 20 minutes. There were 8,000 people signed up on to the mailing list for the Pillar Project and those who were already on the mailing list for the initiative had the ability to be the first to purchase the Pillar Tokens. It has been recorded that there has been more than 6,000 people participating in the project and so far there has been positive feedback.
The Pillar Project hopes to address a number of issues that have been raised by the Fire Study of Next Generation Internet published by the European Commission. The problems include that the Internet should ensure citizensâ sovereignty over their own data and protect privacy; ensure that there is diversity, pluralism and the right to choose on the internet; avoid the concentration of data onto a small number of proprietary platforms; and further develop Personal Data Spaces.
In order to address these issues, the Pilar Project will allow users a dashboard for their digital world that is safer. First of all the Project have developed an open source wallet that will hopefully replace accounts that have atomic ownership and replace apps with services, with a Personal Data Locker that will replace iOS and Android in order to become the sole operating system for devices.