Miracle Tele wants to revolutionise and democratise the mobile telecom sector by using blockchain. They’re leveraging blockchain to reduce operational costs, provide global service (without roaming costs) and share some of its profit with their users.
You can check them with this invite. https://miracletele.com/?friend=1456acf26854f1
Disclaimer : effort has been made to verify all initiatives presented and often use them ourselves. The aim is to avoid HYIP, piramides and other deceit / scams. Still, always do your own research, this post is not advise, you are responsible for your decisions.
It’s a decentralised storing of information in a way that is verified and trusted to anyone. Often the information are (financial) transactions, but it’s not limited to that. It used cryptographic functions to make sure the information is valid and unaltered, hence accurate. In a financial context that usually means correctly representing people’s balances.
The core always comes back to that idea, but there’s several ways of implementation and many possible additions. Consider proof of work (effort) versus proof of stake (ownership). There’s sometimes masternodes, privacy, 3rd party payouts, etc. Most blockchain implementations reward those who help sustain that particular network.
Bitcoin is seen as the origin of all blockchains. It came to existence to be an alternative currency, outside the control of financial institutions and governments. In fact bitcoin (and any blockchain) are explicitly designed so that no single person or institution can have control, to avoid manipulation or shut down. Yet still it can provide veracity and uniformity of information (which is a key challenge is any decentralised system).
Bitcoin is still the most widely used. So for other blockchains to thrive, they need to have a specific value, as it can only exist if people sustain the network and it can only be valuable if people use it. Some blockchains do this by improving technical parameters (transaction speed, data size, etc). Some blockchains do this by targeting specific demographic groups, through adding specific features (e.g. privacy) or having specific use cases (e.g. games). Some blockchains have gone different directions from being an alternative currency, as blockchain truly is (any) information.
MVNO – Mobile Virtual Network Operator
Radio frequencies are heavily regulated, which includes cellphone bands. Typically there’s very few companies that have deployed a network of transceivers in their coverage area, because limited amount of licenses and costs involved. Often they are supplemented by several companies who buy wholesale access to this infrastructure and resell under their own brand. These are MVNO’s, who are often smaller companies. They tend to target specific functions (e.g. mobile data) or a particular demographic (e.g. youth). It’s also common MVNO’s try to be better at price and / or customer service.
It uses blockchain to bring the people power idea into the telecom sector. Like several other implementations, blockchain is used for asset management and participation rewards. Blockchain helps them to provide their service around the world, at lower costs : e.g. no paper, no international banking fees or currency conversion fluctuations / fees, etc. They are registered as company and as MVNO in Czech republic (as such need to also abide by all EU regulations).
Some of the cool specifics :
- It’s an operational product, people are using their SIMs.
- They share 40% of their net profit with those who have credit with them (stacking). On their homepage and in your account dashboard you can see updated estimates on how much you’ll receive.
- No roaming costs, globally. Period. (The EU regulation on roaming costs has the fineprint of “fair use”, so you should be fine if you go on holidays for a week, but probably not if you do months of Erasmus / EVS.)
- Low cost calls and data. (I find their call cost about the same as other providers here, Belgium. And since you pay data per MB, it’s more expensive than monthly bundles. But still it should be great for the occasional user / usecase or when roaming.)
- SIM card never expires (10 EUR shipping cost) and comes with 10 EUR credit. You can get phone numbers from many countries, whichever one(s) you wish.
- Payments via bank transfer / credit card or crypto currencies.
Their roadmap lists some interesting stuff to come, like free use of whatsapp / telegram and VPN services. You can check them with this invite. https://miracletele.com/?friend=1456acf26854f1
Tip : to register use your home network (rather than a public one because many users on the same IP address might get flagged) and no address information / verification should be required.