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Telecom companies identify this gap and provide banking services with the help of blockchain technology. Startups are presently developing blockchain solutions that enable secure smartphone-based money transfers that do not require formal banking documentation. Japanese startup Telcoin leverages blockchain to enable telecommunication operators to provide money transfer services.

Telcoin Wallet is built on the Ethereum blockchain, and mobile users make global transfers instantly, irrespective of local mobile service providers. The startup issues TEL native tokens to telecom operators, based on the volume of their transactions and integration capabilities. This service also offers considerably lower foreign exchange rates, making it an affordable money transfer option.

Ammbr — Autonomous Bandwidth Sharing Just being connected to the Internet enables a variety of actions including data and file sharing , among other communication capabilities. On one hand, people do not have proper access to a fast and reliable internet connection, and on the other, people sharing the internet connection publicly raises privacy concerns. Telecom startups are working on blockchain-based solutions to address both the access and security challenges facing the industry.

Singapore-based startup Ammbr develops a wireless mesh network for internet sharing. With the help of blockchain, the startup enables users to connect their routers to a wireless mesh network. Ammbr uses AMR, a cryptocurrency, capable of autonomously buying and selling internet bandwidth.

This also enables the startup to support a large volume of micro-transactions, in turn, ensuring a smooth and seamless exchange of internet bandwidth between users. QLC chain — Text Message-Based Billing Telecom operators, in order to improve overall customer experience, provide value-added services such as mobile payments. These services help telecom companies reduce costs, attract new customers, and also enable customer retention.

Investment in point-of-sale POS machines becomes redundant with the advent of mobile phone payments and enables telecom operators to drive profitability. This network utilizes a multidimensional block-lattice structure embedded with telecommunication capabilities. Telecom operators use this ledger as a short message service SMS -based billing system that allows for instant clearance and secure transactions. Functional Functional Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.

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