The blockchain technology is rooting from finance, automotive, economics, politics, automotive sectors. Lately, telecommunication sector is expected to embrace blockchain technology and is estimated to contribute as much as $1 billion in five years down the line.
The battle among the phone manufacturers seems to have entered a new arena and the race for building blockchain-powerd phones has begun. It is not just the hardware that is with touch of cryptocurrency but it is also about emphasis on the manner of business conducted.
HTC and Sirin are now leading the race. Sirin labs are planning to roll out its blockchain-based phone in November of this year. It includes cold storage cryptocurrency wallet, a token conversion service and DApp store for blockchain-based apps. It rolls out with a price tag of $1000. HTC is planning to roll out HTC Exodus which will feature universal cryptocurrency wallers and secure hardware enclave.
What does Blockchain Call Imply?
Pundi X has claimed to have made its first ever blockchain telephone call, according to a recent post by Pitt Huang, company’s co-founder. It did a public demonstration of world’s first blockchain phone call on its latest device: XPhone at XBlockchain Summit.
The call implies that it no more requires centralised mobile carrier like traditional phones do. It works on FunctionX blockchain which will be able to solve challenges on blockchain platforms today by increasing its scale, ability to publish DApps and achieve true decentralisation. Function X is a decentralised solution and has five components: Function X OS, Function X Blockchain, Function X IPFS, FXTP Protocol, and the Function X Docker. These components help in decentralising all apps, website, communication and data.
Development of blockchain based calls has the potential to bring numerous benefits to consumers and industry. It brings lower regulatory and business costs, amplifies industry agility, helps in effective management of nuisance calls and fraud, and improves customer experience when moving a number between providers. This technology will certainly allow greater transparency between users. Ofcom has received £700k funds to explore how blockchain technology could improve management of UK landline telephone numbers. This outcomes of Ofcom will certainly be as a reference for all the companies developing this technology while UK citizens will become the first beneficiaries.
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