Blockchain technology is breaking away from the conventional fintech sector and switching to industries like telecom and auto. The world is at the feet of Blockchain. The IoT (Internet of Things), AI (artificial intelligence), VR (virtual reality) and Big Data have some connection to the crypto realm.
As far as the telecommunication industry is concerned, there’s no secret that the system is centralized, defective and obstinate because billing and distributing content can’t happen without extremely high transactional fees and fickle security around data transmission. Unlike a controlled telecom model, an open-source, decentralized system could solve the glitches and ensure a seamless end-user experience by leveraging the Blockchain to provide affordable, flexible and more secure data plans.
Open-source, decentralized telecom to the rescue
A controlled, centralized telecom system can’t guarantee the privacy of the user. Security breaches in the digital realm are the norm these days, not to mention that it’s easier than ever to hack a mobile network and gain access into the critical data, social security number and browsing history of telecom users.
As the need for privacy increases, Blockchain technology with its decentralized, open-source model could change the telecom infrastructure. Wi-Fi sharing networks have gone mainstream. Accessing these networks can be both unsafe and expensive.
Fully decentralized global Wi-Fi sharing networks
Providers of 3G/4G, Wi-Fi and other cloud-based telecom services don’t have the technology to go beyond what the Blockchain can provide. Qlink, a Singaporean-based project, aims to enable new, innovative solutions to old problems in the telecom industry, such as inflexible data plans, security, speed and numerous others.
“Qlink believes the development of the Blockchain industry as a whole will experience a long period of explorational development and then seek merger and integration. Public chain services with different purposes will communicate via agreements and protocols, similar to the TCP/IP in Internet industry today. The Telecom chain, as one of the foundational chain which supports all communication services, will be one of the pillar chains in the ecosystem, meaning Qlink has the most potential to integrate Blockchain based telecommunication in the near future.” – Susan Zhou, co-founder and COO of Qlink.
By leveraging the potential and ingenuity of the NEO Blockchain, the end goal of the Qlink project is to develop an open-source telecommunications systems that is prepared to compete with the inflexible, centralized data plans already available in the market.
Decentralized mobile network becomes hooked on IoV
Sharing Wi-Fi hotspots at a global level, and getting rewarded for doing it is what Qlink stands by. Recently, the company turned its attention to the potential the IoV (Internet of Vehicles) holds. The collaboration with Cenntro Automotive Group, future plans for Qlink include combining Blockchain technology deployment and electronic vehicle manufacturing to craft an open-source, NEO-based, and fully decentralized telecom solutions for the Internet of Vehicles technologies.
Qlink will be in charge of developing the Cenntro Auto Group’s decentralized telecom platform. It will include a wide variety of features, like telecom asset registration, V2X technology development, and IoV mobile data billing. The open-source nature of the new Cenntro Auto platform will create a network of seamless resources that collaborate to design, sell and purchase vehicles.
To make sure the Qlink mobile network for Cenntro Auto Group is truly decentralized, the company works on launching BaseStation, its very own vehicle-mounted hardware to allow users to contribute to the expansion of its 4G network coverage.
The key to a brighter future in the telecom industry: blockchain technology. Global Wi-Fi sharing is unsafe and expensive, not to mention that data plans are faulty and cannot guarantee the privacy of end users. A decentralized ecosystem could be the solution; the key to improved telecommunications packages.
Qlink is scheduled to have its ICO on 22 December.