Sylo crypto2/20/2023 ![]() Other features of the app include the ability to send messages, make audio and video calls, utilise a Web3 Ethereum dApp browser to spend crypto, and to pay using cryptocurrency in the real world at relevant vending machines. We’re confident that Sylo can meet India’s desire to get in the crypto game.” The Sylo Smart Wallet user statistics speak for themselves, the app has been available for just ten months and already has over a quarter of a million users. “Our design team have worked hard to create an app that is clean, fast, intuitive, and astonishingly simple to use. “That’s why sending and receiving cryptocurrency in the Sylo Smart Wallet is as straightforward as sending a message.” “We realised a long time ago that in order to see widespread adoption, we needed to make interacting with crypto as simple as any other activity you might do on a smartphone,” says Dorian Johannink, Sylo Co-Founder and Business Director. Using the Sylo Smart Wallet, users can request and receive payments in chat, store and interact with digital assets such as Bitcoin or any ERC-20 compatible token, such as Ether or BAT, in the non-custodial wallet. The result of this forward-thinking is the ability to instantly provide millions of people with access to de-fi services. In terms of barriers to get started on Sylo, there are very few - neither a sign up cost nor the mandatory provision of an email address or phone number is required in order to create a Sylo Smart Wallet account. Sylo also offers a solution for the unbanked of India. “This is an area where the Sylo Smart Wallet, being developed on decentralised infrastructure, is primed to address, and a key reason we’re excited about this partnership opportunity.” "India's new-found enthusiasm for digital assets and privacy after the restriction of certain privacy-hogging apps like WeChat and TikTok, has presented a significant opportunity to offer India a ‘WeChat’ of sorts that incorporates all the best elements of new generation communications tech, without the privacy concerns, and with the added benefits of crypto assets,” says Bitbns CEO Gaurav Dahake. ![]() ![]() Recently, the tech firm revealed that in Q2 2020, they had already seen a 500% growth in sign ups to the Sylo Smart Wallet app from India, with Indian users now making up 30% of the app’s more than 250,000 strong overall user-base. ![]() The move for a more dedicated expansion into India will not come as a surprise to anyone keeping an eye on the Sylo success story. Often deemed complex, Sylo solves one of the biggest hurdles to the normalisation of cryptocurrency through the Sylo Smart Wallet, a highly-usable app designed from conception to “make crypto simple”. This scalability is already on show within the projects flagship app, the Sylo Smart Wallet a decentralised, private messenger and crypto wallet with over a quarter million users.Through their partnership, Sylo and Bitbns aim to take cryptocurrency usage to the mainstream in India. A staking architecture and unique probabilistic ticketing solution ensure minimal transaction fees and limitless scalability. without deploying any infrastructure of their own. User-run Service Peers provide infrastructure to the network which allows developers and businesses to run privacy-first, unstoppable apps. Sylo is a decentralised communication and data exchange network powered by a layer 2 micropayments infrastructure and the $SYLO token. The Sylo DApp will be released in public beta in Q4 this year. The fully decentralised Sylo DApp will be the 1st application built on the blockchain-based Sylo Protocol, using technology already commercialised in the Sylo App that’s currently used by thousands globally, available on Apple Store and Google Play Store. ![]() Powered by blockchain and combined with other decentralised technologies, this Protocol will act as the networking layer for the Sylo DApp and 3rd-party connected-apps, while providing charging options for specific communications and services over the network. The Sylo Protocol is being developed to provide fully decentralised confidential communication as a utility to all connected-apps within the Sylo ecosystem. The protocol acts as the confidential networking layer for the Sylo App, creating P2P connections and providing a way for users to interact and exchange data confidentially. The Sylo Protocol provides confidential communication as a utility to the Sylo Confidential Communication App. ![]()
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