With the advent of blockchain technology, almost all sectors surged with new innovations and features. Blockchain in telecom is one of them, and it is expected to grow by million folds by 2023. Most of the matured industries are very conservative in implementing blockchain and taking them to mainstream due to growing concerns related to the authenticity of users, and lack of privacy. Many individuals think that identity theft by criminals in blockchain is irreversible.
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Application providers, middleware providers, and infrastructure providers are the main stakeholders of blockchain in the telecom industry. Enterprises are working hard to eliminate the need for intermediaries in telecommunication processes; furthermore, it opens various revenue channels, such as payment gateway, virtual mobile network, and purchasing data with cryptocurrencies, etc.
Major vendors in telecom sectors are planning for high investments in this sector, Wings mobile is one of the Spanish mobile operator, who catapult itself to exploit the market opportunities. Based on the study done by Deloitte, Blockchain has the potential to reduce the losses due to fraud and minimizes costs for fraud detection applications.
Furthermore, blockchain technology has taken another leap, and now with the help of mobile phones, an individual can mine Ethereum. Wings Mobile is of the companies who was successful in creating the customized Minephone, Wings WX is capable of producing UP 2 Ethereum per month. This revolutionized technology is available only for Wings WX.
Wings mobile is based on underneath six pillars:
- Security: Wings mobile provides similar kind of security which is currently available in cold storage hardwares.
- Privacy: Users will have peace of mind during phone conversation to avoid third-party access.
- Warranty: Regardless of the market volatility, the value of Bitwings token will never fall below $0.2.
- Usability: 10% discount to all Bitwings token holders for all Wings Mobile products around the globe.
- Fair price: Fair price policy for Wings smartphones and laptops by placing manufacturing arms in different countries
- Innovation: Innovative decentralized distribution channels based on social media marketing concepts.
To summarise, the blockchain industry has spread his arms in various sectors; telecom is one of the sectors which has the capability to revolutionize the this sector. Nevertheless, it can not be achieved without the help of government and external environmental factors.