The Pillar Project founder, Swiss-based American-born David Siegel from Twenty Thirty AG, has decided to open up sales of Pillar tokens to Americans by un-blocking ISPs from the offering. The sale is currently live at www.pillarproject.io until 8:00 PM UK time Monday, July 17, 2017, or when tokens worth $50 million have been sold.
On the first day of the sale (Saturday, July 15th), Pillar tokens worth $12 million were sold within the first hour.
David Siegel said:
“Like everyone else in the world, Americans can now visit the regular www.pillarproject.io site, read the terms of service, and purchase tokens on the Purchase page. We decided to cater for the demands of our market and not be so scared like other ICOs. We’re bucking the trend because it doesn’t make any sense to prevent US citizens from participating in the token sale. We’re not selling a security, and we want our little buyers, who are buying 10 ETH worth, to have their tokens.”
“I no longer want to participate in the charade of “best practices” around excluding Americans in token sales. Most ICOs now redirect American IP addresses and show them a dumbed-down site with no token offering, and we had complied with legal advice to do that. I agree with what Peter Van Valkenburgh, a researcher at Coin Center has said, that it all doesn’t make sense, that most utility tokens aren’t even under the jurisdiction of the SEC, so I said let’s forget it and take down the wall.”
“Most token sales are open for four weeks. Ours is open for just 60 hours. Why? Because we expected to run a “wholesale” campaign, where big buyers take most of our offering in minutes, like other recent big ICOs.”
“Instead, it’s been the opposite – eager new and small ‘retail’ investors piling into our project because they believe so much in our mission and want to support us. One guy even bought tokens for his young daughter to have when she grows up! We welcome the individuals who truly believe in our project as they are most likely to hold on to their tokens and play an active role in the Pillar community.”
The Pillar wallet will hold people’s assets and become their personal digital assistant – a personal dashboard – powering all their devices. The Pillar wallet is run by Pillar tokens that can be used to fund payments around the web.
The Pillar token sale will raise up to $50 million to build an open-source personal-data ecosystem. After a successful token sale, the team will set up a blockchain-only innovation center in London.
Mr. Siegal is holding a live open meeting on YouTube this Tuesday, July 18th for those interested to learn more about Pillar Wallet.