For a long time, the use of blockchain technology would mostly dwell on the conventional fintech sector to get into more industries. While this is still a trend with the innovation, blockchain is fast shifting into more use cases with basically all of the world industries at its feet. That may seem surprising, but blockchain technology is going beyond financial transactions to include more of virtual reality, Internet of things and artificial intelligence.
Another industry that could primarily benefit from the technology is the telecommunication industry and in particular the mobile payments system. As far as the sector goes, it is no secret that there is the need for improvement in the centralized structure which is often defective and obstinate.
These shortcomings often trickle down to more adverse consequences to the mobile users such as high transactional fees and little security when transacting. While blockchain could offer an uncontrolled telecom model, its decentralized nature could make our mobile payments even seamless for better user experience. Fortunately, the blockchain community is up to the task already with a blockchain-based telecommunication solution for the mobile payments industry.
What Is JioCoin?
JioCoin is a decentralized platform that plans to identify and utilize telecom assets into the deployment of smart contract for the telecommunication industry. Their open-source platform will present a new structure in the telecom infrastructure, and that will go a long way to achieving JioCoin's goal of solving the many issues that come with inflexible centralized support for mobile billing and other forms of telecommunication services.
What Problems JioCoin Aims To Solve
There are plenty of challenges that come with using an inefficient central model to run the telecommunication industry. Key among these problems include:
- The expensive usage fees
- Poor and inaccurate content distribution
- Billing issues
- Insecure data transmission
- Overcharging of the telecommunication services
Consequently, JioCoin plans to provide the essential measures that will go into providing solutions to some of the problems ailing the telecommunications industry.
JioCoin Blockchain Mobile Telecom Crypto Network Solution
The vision will also entail forming a co-operation with mobile network partners to ensure for easy access for customers to the platform's digital economy.
- Provision of essential marketing and product resources tool to nurture the JioCoin ecosystem
- JioCoin plans to form a development team to come with a full cryptocurrency-backed solution with workable mobile wallet and money platforms.
- The potential advantages of using JioCoin
- Low fees since coupling cryptocurrency and the mobile industry allows for cheap transfer and remittances
- Content distribution allows for content providers to bundle their creative content with their mobile data.
The Downside Of JioCoin
Potential government regulation since the venture's parent company is from India, which is yet to authorize the use of cryptocurrency fully.
JioCoin JIO Token ICO Details
- Public Sale Phase-1 Begins: Feb 18th
- Public Sale Phase-1 Ends: Feb 28th
- Public Sale Phase-2 Begins: Apr 7th
- Public Sale Phase-2 Ends: May 7th
- Total Token Supply: 400 MM JIO Token
- Accepted currencies: ETH & BTC
- Token exchange rate: 1 JIO Token = 0.30 USD
Allocation Of Funds
- Founding Team: 15%
- Reserves: 10%
- Further Development: 10%
- Token Sale: 65%
The JioCoin project is a pioneer in its own right with multiple sources acknowledging its possible to change how our mobile industry works. The most prominent threat to the venture is to get the government, mobile operators and particularly users to warm up to the idea and consequently adopt it.