“Blockchain in Telecom” ecosystem provides direct interaction between end-users, mobile operators and service-providers via smart contracts. It eliminates hundreds of intermediators, dramatically reduces costs of mobile services (up to 10 times while going abroad), and saves years and millions of $$ on implementation of the oldfashioned and ineffective roaming technology. How it works: any mobile carrier could publish its own prepaid tariff plans (“Offers”) as smart contracts. These Offers are visible to all other operators and their subscribers. By selecting an Offer, a new “Request” smart contract is created, with the Digital Identity of a subscriber and Payment transaction.
What are its benefits?
• Transactions are incontestable. Operations conducted in blockchain are nearly impossible to fake or hide. This factor is important both for operators and their clients.
• Data are safe. An entire blockchain is kept on many nodes within the network, in many copies, so the chance of data loss is extremely low.
• The transaction error rate is minimized, as each action is controlled by a strict code on the operators’ nodes.
• Less traffic is transmitted among operators — all interactions are now conducted via a decentralized p2p network. they have analyzed many blockchain platforms and found them not entirely suitable for the telecommunications industry, as their transaction processing speed is rather low and they don’t want to let they clients down.
Problems for the regional carriers
The technology of roaming is cumbersome, expensive and hard to implement. It bears cost on the integration of carriers, measured in years and millions of dollars. As a result, the roaming services market has become virtually monopolized by the major carriers, and it is closed to regional carriers. The latter actually lose their subscribers at a time when they are traveling abroad.
Solutions of Bubbletone Blockchain for carriers
By connecting to Bubbletone Blockchain, carriers will avoid the need to enter into roaming agreements. Mobile carriers will be able to connect to Bubbletone Blockchain through a simple API (Application Programming Interface). They do not have to go through a complicated and lengthy process, as in the case of roaming.Crypto-miners can earn Universal Mobile Tokens (UMT), which are required in Bubbletone Blockchain to pay fees for processing the transaction. UMT is a universal token to make a smart contract executable in Bubbletone Blockchain. When they connect new carriers and subscribers to the system, the number of transactions will grow.
Tokens distribution at Pre-ICO and ICO
They’re planning to spend tokens from the Network Development Fund (NDF) for creating reserve Super Nodes when not enough private Super Nodes exist in the system. All income generated from them should go back to the NDF. They’re planning to spend tokens from the Team & Community Development Fund (TCDF) for several purposes:
-To motivate new team members, business and legal advisors, developers and subcontractors.
-To organize community growth in all means possible.
-To prevent a Deadlock situation, when there may not be enough UMT to perform the transactions.