[2016-04-07] The Social Wallet: Global Financial Services with No Fees for Life

[jdebunt]

What are your thoughts on The Social Wallet? Will this project succeed?

It is not the first, nor the last time an initiative is aiming to prepare consumers for the Digital Age. The way we think about payments and storing sensitive information – such as ID cards and driver’s licenses – needs to change, andThe Social Wallet (thesocialwallet.io) is a project designed to do exactly that. But there’s more to this project than another fancy app to install on one’s mobile device, as the ultimate goal is to gain critical mass for this movement.


https://news.bitcoin.com/social-wallet-no-fees-fin-services/

[Carlton Banks]

No fees? You are the product. So much for their lip-service about "sensitive information in the modern age", no kidding. Presumably these people are paying for the expense of running the service with warmed post-exhalations also?

[Hazir]

No fees? You are the product. So much for their lip-service about "sensitive information in the modern age", no kidding. Presumably these people are paying for the expense of running the service with post-exhalations also?

I feel like you are right, you are not the customer here but a product - a sensitive marketing data entry and information stored for every corporation to help them build their marketing strategy.
It is another step in evolution of mass data base of every human being. And I thought that facebook was bad enough.

[Carlton Banks]

I feel like you are right, you are not the customer here but a product - a sensitive marketing data entry and information stored for every corporation to help them build their marketing strategy.
It is another step in evolution of mass data base of every human being. And I thought that facebook was bad enough.

The other alternative is that socialwallet.io will pay everything for it's users; tx fees, website design&maintenance, website hosting, running the Bitcoin nodes for the site etc. Doesn't seem even slightly realistic that the service is really free, the costs to the site for any significant number of users would be too much for any philanthropist.