Insights on BubbleTone ICO
Apr 06, 2018 Posted / 723 Views
Blockchain in Telecom ecosystem provides direct interaction between end-users, mobile operators and service-providers via smart contracts. It eliminates hundreds of intermediates, dramatically reduces costs of mobile services (up to 10 times while going abroad), and saves years and lot amount of money on implementation of the old-fashioned and ineffective roaming technology.
Any mobile carrier could publish its 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.As a result, the Offer issuer identifies the user and receives money, and starts servicing the subscriber directly, with local price and high quality.
For embedded SIM users, the Bubbletone blockchain offers an ecosystem where new economic relationships can be made by connecting mobile devices to a specific network. Each user will have the opportunity to choose a network operator and to switch to another operator including the MNP procedure without the involvement of operators and retailers. This approach reduces the costs of subscriber acquisition, starter kits production and logistics. As a result of this change, the operators can use new mechanisms to reduce the price of services for local rates, as compared to selling physical SIM-cards in retail stores. In the coming 3 to 5 years, the Bubbletone blockchain will be able to process over 30% of all connections to mobile networks worldwide. To implement this process, vendors of mobile devices will just have to connect to Bubbletone blockchain.
Bubbletone Blockchain is a global project with users from any location in the world capable of accessing and paying for the telecom and non-telecom services. With this in mind, the task is to ensure user identification from the part of both mobile operators and value-added service providers wherever they are located in the world. The personal data that the user transferred to their home operator is considered as the basis for user identification on the Bubbletone Blockchain platform. To ensure the safety of the users’ personal data while at the same time enabling a universal means of authentication by mobile network operators and service providers globally, they utilize the users’ digital identities.
The Bubbletone app contains more than 100 functions, each being in high demand by users. For their current project, the essential functions are:
• Retaining your mobile number in the app during remote swapping of the SIM card profile. Subscribers will be able to receive incoming calls via an IP channel and also pay for local mobile service bundles in the visited country.
• Using Bubbletone as the first client of a decentralized network based on blockchain technology, which they are developing. Blockchain made it possible to radically change the rules of the game: they simply eliminated roaming.
• 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 where all interactions are now conducted via a decentralized p2p network.
• Any additional code the system runs on is void of sensitive information that could be stolen. The only data requiring protection are the private keys of the participants.
1. When a SIM card is first sold, the home operator validates the client and sends encrypted digital proof of the client’s validity into a blockchain. As a result, when the client goes to another country, there’s no need to provide their ID to get another SIM card.
2. Roaming operators will only need to promptly offer their services and price quotes, and the network will distribute this information and use it to bill clients itself.
3. The offers will be regulated by the law of supply and demand, so technical and market share dominance will become less important than, for instance, the quality of service.
4. They are making communication services exponentially more affordable and are fighting inequality. The cost to use and support their system is significantly less than what you'll find with other operators today.
5. Their system has many technological advantages (and some shortcomings, of course).
Q1’2018 is the Initial version of smart contracts is ready. The first “Offer” and “Request” are on the Blockchain platform. Demonstration of the platform at Mobile World Congress in Barcelona (February 18). Integration with major eSIM platforms to download mobile profiles onto SIM cards
Q2’2018 is for Web-API for integration of mobile operators and service providers. Integration of Digital Identity into Bubbletone app. Commercial launch, with “Offers” from 10+ mobile operators, are on Blockchain, low rates in 80+ countries.
Q3’2018 is for Global Mobile Profile approval by International Telecommunication Union. Update Mini Nodes to participate in processing smart contracts. New features in the Bubbletone app: a Voting platform based on Blockchain, 4K video- conferences, transfer of fiat money and cryptocurrencies
Q4’2018 is for Expanding list of mobile operators and service providers connected to Bubbletone Blockchain Ecosystem.
Q1-Q4’2019 is for Signing agreements with mobile operators worldwide to activate the Global Mobile Profile. The first prototype of a global SIM-chip to be embedded into mobile devices. The first 1 million transactions are processed.
The token is priced in Ethereum cryptocurrency.
Pre-ICO stage 1 will be from 01.02-10.02
Pre-ICO stage 2 will be from 11.02-01.03
Pre-ICO stage 3 will be from 02.03-10.03
ICO will be from 20.04-20.05
Where Hard cap will be 25 000 000 USD
They are planning to withdraw from circulation the tokens from the Network Development Fund (NDF) for depositing on accounts of service-providers for generating transactions. All income generated from them should go back to the NDF.
The Founders fund is subject to vesting at 7% per month.
They are planning to spend tokens from the Team & Community Development Fund (TCDF) for several purposes:
For ICO promotion
For distributing tokens within 24 months of platform start to pay off the node ownership costs while there are not enough private Super nodes on the platform
For providing bonuses, but no more than 7-10% per month, to node-owners to ensure the nodes productivity.
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
50% of the tokens will be allocated for Crowdsale
0.2% of the tokens will be allocated for Bounty fund
7.8% of the tokens will be allocated for Team & Community Development Fund
22% of the tokens will be allocated for Network Development Fund
20% of the tokens will be allocated for Founders
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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