Pillar describes itself as the personal data and asset management platform that allows users to control what, when, and with whom their funds and information are shared. The project's mission is to empower individuals through ownership of their personal data using decentralized technologies.
The Pillar Wallet is intended to be an intuitive and social cryptocurrency management tool. It aims to allow users to build a contact book -- rather than searching for blockchain addresses -- so that sending assets is as easy as sending a message. It stores users' entire transaction history, provides real-time notifications on all activity, offers 24/7 in-app support, and an end-to-end encrypted chat function. The next step is smart contract based, recoverable accounts, integrated with exchanges and token swap platforms. It aims to provide free, instant and private transactions via off-chain payment channels.
As a native token, PLR powers the platform and is used for payments, services, providing access to the Pillar Payment network, and serves as a usage fee benchmark. Pillar users will be able to operate the wallet platform, manage assets and identity, transact with other users, access enhanced functionality, open payment channels, exchange supported synthetic assets, and cover network fees using only the PLR token.