Now that blockchain is only not confined to cryptocurrencies, you can expect to see some amazing products backed by this technology. Recently, there have been news regarding blockchain technology to be used in self-driven cars and now you can expect to see some great inventions like cryptophones.
Soon, crypto users would be able to enjoy more hardware options as a lot of smartphone manufacturers announced to integrate blockchain technology into their phones. The blockchain telecommunication is all set to uplift all crypto users to an environment where the Dapp (decentralized applications) would be levied to enhance the communication experience.
What’s the sum of investment expected in Blockchain Telecommunication?
According to Research and Markets, a global market research store, the blockchain technology working in the telecom sector would be crossing its own $46.6 million industry to a whopping $993.8 million which is close to $1 billion in just five years. One of the major factors that is leading the spread in use of blockchain is the ‘rising security concerns’, which is singled out from a 132 pages of report. This is what the operators in this field see it as a potential safeguard, overseeing it’s still fluid regulatory status.
The report summarizes as, “The blockchain in telecom market is driven by various factors, such as the increasing support for OSS/BSS [operations support systems/ business support systems] processes and rising security concerns among telcos”.
What are some anticipated projects so far?
If you’re expecting crypto phones to be totally different, you may want to think again as the reports claim that they would be like any other regular smartphones. Below are some of the anticipated crypto phones that may end up in your hands soon.
The HTC Exodus project is the result of years of research conducted by this smartphone giant. Recently, HTC became the hot potato with the announcement that the creator of Litecoin, Charlie Lee had joined as an advisor in the project. HTC certainly doesn’t want to leave any stone unturned in creating its first ever crypto smartphone and wishing to put all knowledge to its Exodus research from Lee.
Although, not much of the information is revealed from the company, it did release a few to set the atmosphere. The Exodus would have a cold wallet to keep your cryptocurrencies secured. Also, you would be able to receive encrypted calls and messages to ensure the privacy. Moreover, the Ethereum based popular Crypto Kitties game would be there to let you have a feel of a cryptophone.
Sirin Labs Finney is probably one of the most awaited cryptophone project, which would be a result of a joint venture with the smartphone giant Foxconn. You can estimate its demand with a fact that over 25000 units of Finery have been pre-booked.
This piece of art would consist of a hard wallet built-in to keep you digital coins safe and secure. One of the most wanted features is that the phone would have its own exchange to set you free of needing one to swap your crypto. Moreover, this exchange would charge you a fee of $0.
Overall, blockchain telecom may bring a new era of smartphones that would change the way you use them. Once the Dapp takes over the smartphones, you may be able to enjoy a decentralized app support. If you wish to share your opinion for the new Blockchain telecommunication, leave a comment below.