The world is experiencing multiple revolutions in the fields of communications, data, and Blockchain. These revolutions are happening at the same time, are interconnected, and are having an enormous impact on the global economy:
- The amount of communications worldwide continues to rise, with over 3 billion individuals using messaging apps by 2023, equivalent to 90% of all smartphone users. Nearly 60 million WhatsApp and Facebook messages are shared worldwide every minute. In 2020, every human created an average of 1.7 megabytes of data per second, mostly via instant messages and voicemails.
- The amount of data generated and stored globally is growing exponentially. Advances in information technology, the expansion of internet applications, the rise of the “Internet of Things”, and the introduction of 5G broadband, are behind the biggest information explosion in the history of humanity. Data generation could rise to 200 Zettabytes in 2025, with 75 billion IoT devices connected compared to 31 billion in 2020. An estimated 90% of all data ever generated was generated in the last two years alone.
- Blockchain technology is on the way to changing how the world transmits and stores value and information permanently. Leveraging its embedded advantages of data security, transparency, and immutability, Blockchain applications are gaining traction in healthcare, government, banking, trade finance, real estate, diamond mining, law, and insurance, among others. Cryptocurrencies, Bitcoin and Ether above all, have surged to a combined value to over $2 trillion in 2021, with an estimated 300 million users worldwide and over 75 million wallets in September 2021, up from less than a million in 2013.
Along with the positive impact of these technologies, arise a series of new and unprecedented threats:
- The impact, costs, and frequency of data breaches and cyber hacks continues to rise. At the end of 2016, a business fell victim to a ransomware attack every 40 seconds. This rose to one every 11 seconds in 2021. Cybercrime will cost the world’s economy an estimated $10.5 trillion annually by 2025, representing 9% of global GDP, up from $3 trillion in 2015.
- Crypto asset thefts and hacks are constantly rising. An average of over $10 million was stolen every day in 2020, and total thefts have risen 1,000% in the October 2020 to March 2021 period, compared to the previous year. In addition to cyber hacking risks, the growth of crypto asset ownership is being restrained by high trading costs, especially for users with limited wallet sizes.
- The personal data of hundreds of millions of people has been repeatedly stolen, and often sold, from major messaging platforms including Whatsapp, Facebook Messenger, and Yahoo. Reputedly secure messaging apps like Telegram have seen their usage by hackers increase by 100% in 2021, sharing data obtained from leaks and other sources. Furthermore, forecasts show that the amount of data generated will outstrip the growth of installed data storage capacity between 2021 and 2025.
The emergence of these long-term trends, and their accompanying threats, indicate a strong need for a comprehensive technological solution to:
- Keep messages, files, and other communications private and safe from cyber threats of any type.
- Eliminate the risk of cyber thefts of crypto assets.
- Provide a decentralised and cost-effective solution for existing and new crypto users to accumulate, store, and transfer cryptocurrencies and other crypto assets.
Tower offers this solution – a fully encrypted, decentralised, P2P messaging and crypto cross-chain transfer app built on a hybrid Blockchain between Tower and Polygon. By leveraging an innovative architecture, based on a network of independently verified nodes, wallet address-based messaging, and its own utility token, Tower offers maximum security for communications, file storage, and crypto wallets. Thanks to a proprietary P2P transfer protocol, Tower further enables the direct P2P cross-chain transfers between users of all types of crypto assets, including NFTs, at the most competitive costs on the market. By eliminating the threats and weaknesses of existing messaging and crypto trading solutions, Tower represents the start of a new, and significantly safer, era for global communications and crypto trading.
Crypto Assets & Data, Under Threat: The Need For A Definitive Solution
Crypto wallet owners and Blockchain enthusiasts today are worried about three major things:
- Ensuring their wallets are safe from cybertheft, data hacks, or any other risk that can result in a loss of assets and compromised personal data.
- Being able to trade crypto assets in a cost-effective way – be it fungible ones (Ether, Bitcoin, etc.) or Non-Fungible Tokens (NFTs).
- Validating the identity of other crypto wallets, and ensuring all communications and transactions with other wallets are secure.
The number of Blockchain wallet users globally has grown from less than a million in 2013 to almost 80 million today, a more than 7,900% gain:
As wallet use and crypto asset ownership have surged, so have Blockchain-related fraud/thefts, which topped $4.5 billion in 2019:
Among the most notable recent cases:
- In February 2020, the IOTA Foundation shut down its entire network due to a hacker exploiting a vulnerability in the IOTA wallet app.
- Hot wallets on exchange KuCoin were hacked for $150 million in September 2020.
- Over $600 million in Ethereum and other cryptocurrencies were extracted from Poly Network in August 2021.
As Blockchain proliferates, the global economy is simultaneously experiencing a boom in data creation, which is projected to grow from 60 Zettabytes in 2021 to 175 Zettabytes by 2025:
Similarly, the value of the global data storage market expected to increase from $30.7 billion in 2017 to $88.9 billion in 2022:
The growth in mobile communications and internet connectivity will increase the amount of data transmitted and stored, which will, in turn, boost the risks of it being stolen from the cloud or intercepted en route to its destination. The last years have shown the risk and significance of data hacks and leaks:
- A Dropbox hack in 2016 resulted in the leak of 68 million client passwords.
- Cyber attacks in the UK surged 20% in 2020, as hackers took advantage of the increase in remote working, online communications, and file sharing.
- The personal data of over 700 million Linkedin users, 93% of the platform’s total, was hacked and then put on sale in 2021.
- The information related to more that 530 million Facebook users (including phone numbers and names) was hacked and made public in April 2019.
As crypto assets and applications continue to expand, the market is in need of a definitive solution that will make crypto asset ownership, trading, and the communications that come with it, cost-effective and safe for all participants.
Tower – A Revolutionary Secure Messaging & Exchange DApp
Tower is the world’s first and only decentralised, encrypted messaging and cross-chain transfers app. Tower creates a completely new ecosystem allowing all crypto wallet owners to:
- Communicate and transfer crypto directly and anonymously by messaging/phone/video with any other wallet owner in the world, based only on knowing their wallet addresses.
- Trade crypto assets and NFTs P2P via an integrated ESC (escrow smart contract) functionality.
- Make communications, file storage, and transactions secure from hackers and government censorship via a decentralised distributed node network.
- Receive rewards for app use and content creation (personalised channels and broadcasts), in addition to paying for additional services/subscriptions, via the TWR token (FUTURE RELEASE).
- Offer premium content (lessons, seminars, influencer videos, etc.) on public channels to other platform users, in exchange for payments via the TWR token (FUTURE RELEASE).
The Tower solution offers numerous benefits to users:
Messaging Security – Decentralised data storage, complete anonymity, no data transfers, no moderators, and complete end-to-end encryption. The node-to-node communication protocol means all messages between users are stored on trusted nodes, directly on our Polygon-based Blockchain network. Users can sign up exclusively with their wallet addresses, validated by the node network, while maintaining complete anonymity.
Cross-chain Transfers – Tower allows crypto owners to do something unprecedented, namely communicate and trade with each other without having to know each other, or having each other’s data on a contact list. This opens up endless opportunities for exchanging messages, files, and digital assets between previously disconnected individuals – an enormous step in encouraging the adoption of crypto currency and creating liquidity in the market.
Cost Effectiveness – Allowing users to trade crypto assets in a cost-effective way – be it fungible ones (ether, bitcoin etc.) or non-fungible ones (NFTs), directly P2P. This helps users avoid the fees, congestion, and liquidity issues affecting Centralised (CEX) and Decentralised (DEX) crypto exchanges.
Data Security – Files are stored on trusted, independent nodes in the Tower blockchain, and transfers happen on a P2P basis, based on an encrypted procedure verified by the parties involved alone. No more data breaches, hacks, password leaks, or any other risk affecting existing cloud storage solutions.
Tower essentially creates a global Web 3.0 era platform for all crypto wallet owners to trade and communicate between each other – all from a single place, and with tangible advantages over existing trading and messaging solutions.
The Tower Trading Solution – The Power Of Blockchain, Without The Disadvantages of Crypto Exchanges
Crypto asset trading has increased exponentially in the last two years, with the volume of DEXs and CEXs reaching over $500 billion a month by the end of 2020:
CEXs and DEXs differ in their functioning, capabilities, and weaknesses:
CEXs (Coinbase, Binance) generally offer user-friendly trading platforms, deep liquidity, allowing first-time users to trade crypto assets with minimal previous knowledge.
The weakness – CEX users give up control of their assets to the exchange’s servers. This can put their wallets and assets at risk of being stolen, or their personal data hacked in security breaches. Among recent examples:
- An estimated $100 million was stolen from major Japanese cryptocurrency exchange Liquid in August 2021.
- Over $280 million was drained from the user accounts of Singapore crypto exchange KuCoin in September 2020.
DEXs replace a centralised authority with automated protocols that enable trading and direct swapping of tokens without an intermediary. These protocols provide the user full control of their assets, eliminate jurisdictional constraints, and negate the need for KYC procedures. Without a single repository to access funds, counter-party and hacking risks are decreased, while personal data is not shared.
The weakness – DEXs operate on smart contracts only, limiting their trading capabilities. Most DEXs offer limited liquidity, therefore asset prices are often priced inefficiently. Furthermore, network congestion during high volume periods result in high transaction costs.
Tower As A Superior Trading Solution For Crypto Assets
Tower aims to offer users a simple, cost-effective, and direct way to trade crypto assets – only without the disadvantages of CEXs and DEXs. The Tower trading function radically changes how crypto assets can be traded. The use cases involve both fungible and non-fungible crypto assets:
Use Case 1 – A Tower user wants to buy a specific NFT that is not currently on sale (ex. Beeple’s $69 million ”Everydays – The First 5000 Days”). By knowing the owner’s wallet address alone, the user can make direct contact and offer to purchase it. If the owner agrees, the buyer can add the funds via the application directly. The crypto asset is then transferred to the buyer, and the purchase price funds transferred to the seller’s wallet.
Use Case 2 – A Tower user needs to buy a significant amount of Dogecoin tokens but cannot find sufficient tokens on existing exchanges. The user can find out which wallets in the Tower network have the largest amounts of tokens in question. Once the user finds a seller, the funds are again added via the liquidity nodes. The funds are then transferred to the seller’s wallet, and the corresponding tokens to the buyer’s.
A number of elements make Tower an ideal transfer solution compared to existing market alternatives:
Tower “Instant Trade”
The Tower “Instant Trade” function allows users to directly send from or receive to their wallets crypto assets to/from those of other Tower users. This excludes the need of any exchange, and opens up the opportunity of trading P2P non-fungible tokens which are not traded publicly. Tower makes trading crypto assets as simple as sending an instant message or SMS – easy, immediate, and directly from one person to another. The use of the combined PoH and PoS protocol means that, unlike in a pure Proof of Work protocol like Ethereum, not only the most expensive transactions are prioritised by the network. Rather, PoH records all transactions in real-time, making sure they are processed in sequence without jamming the entire network.
Tower wallets are Ethereum compatible and allows users to trade NFTs, and other cryptocurrencies, also with wallets outside of the Tower network. In July 2021 Neon Labs announced the deployment of a cross-chain Ethereum Virtual Machine on the Polygon testnet. This enables decentralised applications in the Ethereum ecosystem to leverage the high throughput and fast block times of Polygon. It’s implementation will also let users port Ethereum-based applications to Polygon. Tower will therefore be able to leverage the speed of cost advantages of Polygon with the ubiquity of Ethereum-based applications.
Enhanced Trading Applications
The blockchain architecture enables Tower users to develop advanced trading applications to manage and invest in crypto assets. This includes AI-powered trading algorithms that can be designed according to a trader’s individual preferences in terms of crypto asset type, volatility, risk propensity, return objectives, and time frame. The fast and low-cost execution speeds open up new opportunities for Tower users to actively manage their crypto asset allocations more flexibly and effectively than ever before, with a wide range of trading strategies possible thanks to reduced transaction costs and increased transaction speed.
The OTC Advantage
Trading of crypto assets to date has been relegated to DEXs and CEXs. Tower enables the growth of an OTC ecosystem, whereby the notion of an exchange disappears completely and is replaced by individual traders directly interacting with one another, wallet to wallet. Tower OTC trading has significant advantages:
Market Impact – The fragmentation of liquidity across crypto exchanges poses significant challenges for investors who want to limit market impact when executing large orders. OTC is therefore an option to address this issue. Especially when executing block trades that are less sensitive to the Blockchain settlement price. Tower allows traders to contact each other one-to-one or one-to-many with message “blasts”, which are a quick way to find out interested buyers and liquidity pocket in the market. This enables a faster execution than that of existing exchanges, at a more favourable price.
Price Flexibility – As cryptos are a completely novel asset class, prices remain extremely volatile. OTC trading has the advantage of allowing for traders to negotiate prices, especially for NFTs, in a way beneficial to all parties involved.
Asset Range – OTC is the perfect way to trade NFTs, which do not have publicly quoted prices but depend on buyer/seller negotiations. Tower users can identify specific NFTs they want to invest in, and connect directly with the owner via the messaging function. This allows the investor to access previously unaccessible crypto assets, and the NFT owner to rapidly find an interested buyer.
Communicating, Safely: How Tower Uses Blockchain To Make Messaging Fully Secure
Messaging apps have proliferated during the last decade, and the growth is expected to continue. The number of global users is expected to grow from 2.87 billion at the end of 2021 to 3.12 billion by the end of 2023, with penetration of the smartphone market rising from 87.1% to 90.1%:
The most popular messaging applications of today, nevertheless, do not address or solve the concerns of their users:
Tower As A Superior Trading Solution For Crypto Assets
Tower avoids the personal and data risks present in existing messaging apps, while offering a significantly greater level of privacy. On Tower, all data and messages are stored on trusted nodes directly on our Blockchain network. The Tower messaging app:
- Does not collect any sensitive personal data (emails, ID numbers, DOBs, physical addresses, etc), avoiding altogether the risk of data hacks. All messaging is exclusively based on verifying wallet addresses via the node network. A KYC/AML verification procedure is completed through reliable third-party partners, outside of the Tower platform.
- Eliminates the security risk of centralised user data storage, bypassing any central points of failure – avoiding data hacks and server downtime.
- Bypasses geographic/political obstacles (jurisdictional/IP access limitations, government censorship, etc.), ensuring messages are not censored, filtered, or tampered with by third parties.
- Holds message history and files (photos, documents, etc.) on anonymous, independent, and non-connected nodes, on the Tower network. There is therefore no single point of failure where all files are stored (i.e. the weakness of cloud solutions).
The capability of messaging directly other wallet owners on the Tower platform, just via their wallet address, is unprecedented in the market. It opens up the opportunity of contacting users whose wallet addresses are known, but also ones whose addresses are not, with significant impact on crypto adoption and creation of a global OTC trading community.
The key advantages of Tower are a direct result of the hybrid use of the Polygon Blockchain:
Expanded File Storage Capabilities – Thanks to its horizontally scaled state architecture, concurrent file reads are writes are possible in the Tower messaging app. This allows for a far larger volume of messages to be transmitted and files to be stored, vis-à-vis existing messaging solutions. Files are stored on independent nodes, with the storage capacity distributed randomly across a range of available node validators.
Enhanced Messaging Capabilities – Polygon offers a paralleled transaction processing engine that allows for concurrent transactions on the same chain. The ability to simultaneously allow the reading and executing of a transaction significantly accelerates the trading speed of the network and improves runtime.
TWR – The Messaging Token Innovation
Tower introduces the concept of a crypto token as a utility instrument for communication on the platform. The use of a the TWR token to enable messaging is based on the following principles:
- Messages as transactions, whereby the parties stake TWR tokens in order to communicate with each other. The sending party uses Tower as a MaaS (“Messaging as a Service”) application, staking tokens in order to be able to send messages. Greater volumes of messages or file storage demand mean more tokens being staked, and more demand for TWR tokens – just as for a token used for trading.
- The use of a single token eliminates the risk of exogenous price fluctuations in other cryptocurrencies that would cause messaging between users to potentially result in a change in their wallet values. For example, if a user spent Cardano to send a premium message, and the value of Cardano rose in the meantime, the message sender would not benefit from the increase in value. By denominating all messages/transactions in TWR tokens, the stability of Tower is preserved, as its value would only depend on the services, size, transaction volume, and messaging volume of the ecosystem.
Tower Advantage: The Power of the Polygon Blockchain
Tower has chosen the Polygon Blockchain as the basis of its architecture. Polygon is a public, open source, and decentralised platform conceived in 2017 and launched in 2020. Its main aim is to solve the Blockchain trilemma – creating a fast and scalable network, without compromising on security or decentralisation.
Polygon offers significant innovations, including:
Proof of History & Proof of Stake – Polygon is the world’s first Blockchain network to rely on a combined Proof of History (PoH) and Proof of Stake (PoS) consensus. Each node has its own synchronised cryptographic clock, meaning nodes can reach consensus without having to communicate with each other.
Turbo – Polygon divides blocks into smaller increments, which resolves bandwidth issues by not overloading individual nodes with information.
Skylevel – Skylevel is a parallelized transaction processing engine that enables the processing thousands of contracts in parallel, achieving a better network runtime.
Main Stream – Main Stream creates a cache of transactions and forwards them to the edge of the network. This majorly reduces confirmation times and reduces the memory burden of of validators.
Pipelining – The pipeline mechanism allows for parallelisation – whereby different GPU units are simultaneously working on different stages, incrementing the overall transaction handling capacity of the network.
Archivers – Each Archiver stores a fragment of the network’s history, which the network will occasionally verify they are doing via Proofs of Replication (PoRep).
Cloudpoint – Cloudpoint replaces sharding with a horizontally scaled state architecture, using sequential writes across many Solid State Devices (SSDs) for concurrent transactions. Each additional SSD adds storage capacity available to on-chain programs, as well as increasing the number of concurrent reads and writes.
Polygon provides a series of tangible advantages for our project:
Polygon is designed to prevent the two most common attack types on P2P networks:
Eclipse Attacks – This occurs when an attacker attempt to eclipse the original ledger by presenting a series of malicious nodes under his control. As each Archiver stores a fragment of the network’s history, verified via PoRep, the true transaction sequence cannot be monopolised, therefore cannot be falsified.
Sybil Attacks – In a Sybil attack, an attacker will flood the network with a large number of nodes with false identities to try to influence the network. Thanks to the independent consensus cryptographic mechanism, all nodes not under the control of the malicious actor would automatically prevent the propagation of the false consensus.
Polygon can process more than 65,000 transactions per second (TPS). Developers say the transaction speed can reach 700,000 TPS as the network grows. This is a significant advantage over Ethereum, which currently processes between 15 and 45 TPS. Polygon has so far been able to process over 24 billion transactions to date, significantly outpacing many of its major competitors:
Polygon is considered among the world’s fastest and lowest cost blockchains, with an average cost per transaction of $0.00025, in some instances as low as $0.0001. This compares to $10-$65 on Ethereum, depending on network congestion.
The MATIC token is currently the 16th most valuable cryptocurrency in the world, with a market cap reaching over $11 billion USD in September 2021, up from the 42nd spot the previous February. Its value has surged by over 2,300% in 2021 to date.
How Tower Is Built – The Three Layer Structure
Tower is built upon a three-layer architecture – Blockchain, Nodes, and Application:
Blockchain – The first layer is constituted by Tower and Polygon-based Blockchain network, dedicated exclusively to the Tower application. This layer manages node-to-node discovery and communication in the following sequence:
- A node requests permission to communicate with another node for the first time.
- The Blockchain network routes the request to the other node in the most efficient way possible, reducing the time needed to connect.
- Once the connection is made, a caché is kept at the invidivual node level for future connection, making future discoveries faster.
Nodes – This layer routes node-to-blockchain communication, as well as node-to-user communication. The nodes are structured as follows:
- Each node contains the addresses of the accounts registered on it, along with a staked TWR token amount. The TWR token is the token native to the Tower platform.
- The nodes keep the VPN keys of the nodes registered in them so that any communication can be routed to the respective node. Nodes also hold undelivered data. This means that if a user is registered on a node but is offline, the (encrypted) data will be saved temporarily on the node until the user returns.
- The node-to-user routing is done by typical mapping, as the individual nodes are only allowed to contain a limited number of registered users. This increases the speed of user discovery.
Application – This layer is constituted by the actual Tower messaging, file storage, and asset trading app. The purpose of this layer is to:
- Register Tower users on nodes.
- Synchronise the state of nodes – new user registrations, user de-registrations, etc.
- Allow users to interact with other users by messaging directly and exchanging assets just by knowing wallet addresses – meaning anonymity is kept, but the identity of all parties is independently verified.
How Tower Works: A Clear, Safe, and Intuitive Platform
Tower processes for messaging, file transfer/storage, and trading are both sophisticated and straightforward:
Messaging & File Transfer
Before starting to communicate, all users want to know that they are sending messages to the right person and that the channel is safe. Tower ensures these conditions via the following steps, which are automated and completed within seconds:
- User A (sender) requests an IP from the Tower Blockchain.
- The IP is returned to User A.
- User A’s application generates a random number and encrypts it with User B’s (receiver) public key.
- The encrypted number is then sent to User B, where the application automatically receives and decrypts the challenge using the stored Private key of User B.
- The answer to the challenge is sent back to User A.
- The answer to the challenge is verified by User A’s app.
- Once the validation is completed, User A and B can now communicate and share files P2P.
Identity Sharing & Asset Trading
Tower aims to allow identity sharing with as limited a risk as possible on untrusted networks. The process follows these steps:
- User A encrypts their username using User B’s public key and the RSA-1024 encryption method.
- User A receives an encrypted username.
- User A shares the encrypted username with User B. The message is secure as it can only be decrypted by User B’s private key.
- User B receives their encrypted username.
- The application decrypts the username of User A.
- User B queries the Tower Blockchain network to retrieve the IP of User A.
- User B retrieves the UP of User A.
- User A and User B can now communicate and transfer assets between them.
Tower vs. The Competition
The architecture and logic of the Tower app represent an advantage over the competition:
The Tower User Type – Our Target Markets
Tower addresses the B2B, B2G, and C2C customer segments:
The B2B & B2G Segment
Corporate & Government Users
Corporations worldwide are aware of the growing threat and economic damage that is posed by cyber and industrial espionage. IP theft, cybercrime, and trade secret theft are estimated to cost the global economy $445 billion a year, potentially up to $600 billion, and according to some estimates $1 trillion. Governments and state actors are also aware of the dangers posed by hacks resulting in leaked diplomatic documents, embarrassing information about political figures, disruptions to public services, or exposure of sensitive defense-related information.
Furthermore, cybercrimes have low implementation costs, while offering very substantial rewards:
- Deloitte estimates that a cyber attack costing as low as $34 per month could return up to $25,000,
- The average cost to a business of a data breach was a $3.86 million worldwide in 2020, and $8.64 million in the US.
- Cybercrime revenues outpace global spending on cybersecurity by a factor of 10x.
Governments and multi-national companies are actively seeking all-round messaging solutions to avoid the economic, operational, and reputational threats of data hacks and cyber crime.
(Global Market Size: 300-500 million individuals)
Small to Medium-Sized Enterprise Owners
SMEs are most vulnerable to cyber attacks due to their limited cybersecurity measures, limited funding to implement any, and limited willingness to encrypt database and communications data.
It is estimated that 75% of all SMEs have no cybersecurity plan or budget in place to protect their operating systems, private communications, or sensitive data. The data, however, show a real and present danger, with:
- 43% of cyber attacks targeting small businesses.
- 60% of small businesses that are victims of a cyber attack going out of business within six months.
- The average cost of a data breach for a small business being over $25,000.
With the increase in smart working and remote working catalysed by the Covid-19 pandemic, SMEs have become even more reliant on instant messaging between employees and company management. in addition, with over 90% of small businesses using cloud-based storage solutions, the risks of data breaches remain elevated. This segment is looking for an easy to use, cost-effective, versatile, and encrypted solution to secure their databases and internal messaging.
(Global Market Size: 130-150 million individuals)
The B2C Segment
This is the average individual who uses existing messaging apps, social media, and mobile communications, and is aware of their risks. A person who values the privacy of their private messages, of the files or photos they share, and wants to keep them safe from hackers or the government’s eyes.
(Global Market Size: 600-700 million individuals)
High Net Worth Individuals & Celebrities
These are individuals who, due to their significant wealth, public profile, and personal influence, have a strong interest in shielding their movements, assets, and personal data from cyber threats. In addition, they also want to avoid real-life threats (ex. abductions, attacks) which may stem from their personal communications/data not being secure.
(Global Market Size: 20-50 million individuals)
These are individuals who want to maintain their crypto wallets safe, while being able to message other crypto users and trade crypto assets securely. This is the fastest-growing user segment targeted by Tower – the global population of crypto users doubled from 106 million in January 2021 to 221 million in June 2021, a less than six month period.
(Global Market Size: 250 million individuals)
The Tower Vision – Leveraging Crypto To Become A Dominant Messaging App
Tower plan is to:
- Become the go-to messaging solution for the crypto community
- Leverage that position to become the go-to solution for crypto trading.
- Leverage both positions to become the global go-to solution for all messaging needs.
The logic behind this strategy is based on the following facts:
The Need For Privacy Of Crypto Owners – The most used messaging app of crypto owners is Telegram. This is a consequence of the app being focused on messaging security and the fact that it launched one of the biggest ICOs ever in 2018, raising $1.7 billion. The anonymous nature of cryptocurrency makes crypto owners especially keen to adopt a messaging app like Tower that combines messaging privacy with Blockchain security.
Increasing Crypto Ownership – Global crypto ownership is rising fast, with an increase of 881% in 2020 alone, but is still starting from a very limited base:
Only 14% of Americans own cryptocurrency, compared to 3.9% of the global population. By becoming the go-to messaging app for the crypto community, Tower is riding directly a massive increase in user base.
Based on these two long-term trends, there are three phases in Tower plan:
- Penetrate the market to include more and more individuals previously not involved in crypto trading.
- As more users are involved in the crypto market, they will be more inclined to satisfy their messaging needs via Tower.
- The ubiquity of crypto ownership and trading, and the need for messaging privacy, will create a merged demand for both services – which is the uniqueness of Tower.
Tower Go-To-Market Strategy
Tower plans to market itself and expand via a series of proven strategies that have been used by other messaging and trading apps (including Telegram, Robinhood, and Dropbox) to create fast organic growth. Our strategy will be implemented in two phases:
Phase 1 – Market Entry (Months 0-6)
Focus: The B2C segment
Goal: Achieve maximum decentralisation via early user adoption and node distribution.
User Incentive: 0.01 USD per token in the Private Sale early stage
Phase 1 will involve three main activities:
- Token sale to onboard investors are product evangelists/users
- Partnerships with privacy-oriented companies
- Referral rewards and giveaways for successfully onboarded users
- Contacting crypto and Blockchain influencers for exposure
- Video reviews on paid YouTube channels
- Paid Twitter/Instagram influencer posts
Phase 2 – Target Audience Penetration (Months 7-18)
Focus: Expand our B2C reach and target the B2B segment
Goal: Achieve mass B2C adoption and corporate adoption
User Incentive: 0.05 USD exchange listing price
KPI: 5x return on the investment
- Weekly articles targeted at C-suite executives explaining the functioning of Tower technology and its differences from existing messaging/file storage solutions
- Monthly updates on the platform’s development – to maintain interest in the product and in the upcoming launch.
- Meme competitions
- Merchandise design
- Announcements of partnerships, integrations, etc.
TWR: The Tower Token’s Utility & Function
The TWR Token is the currency of the Tower ecosystem, and covers various roles:
- It acts as a form of guarantee for users to initiate contact or invite new users to the Tower network, communicating with other users.
- It allows users to trade crypto assets between Tower wallets, and interface the Tower wallets with wallets from third-party platforms.
- It enables users to monetise any content provided anonymously, via their respective channels (FUTURE RELEASE).
- It allows users to pay for any additional premium services provided by the Tower app (hidden chats, crypto asset trading capabilities, message storage, and file storage) (FUTURE RELEASE).
- It allows Tower users to ping the wallets of non-users by sending a TWR token to it. This not only allows platform users to get in touch with users not in their contact lists, it also creates an interest to join Tower to message other users and conclude crypto transactions – leveraging network effects.
- Tower users can pay gas fees with TWR tokens.
The Tower team is made of experts in the fields of cyber security and crypto engineering. They have been developing the Tower platform over the last three years, incorporating the most advanced crypto-security measures and developing unprecedented Blockchain end-to-end encryption technology. The Tower team envisions a world where communications and assets are completely free from intermediaries, risks of theft, or any other external threat.