Telecommunications has gone a long way since the start of their boom and now, crypto and blockchain technology is catching up. While the two may seem moving on different trajectories, there are certain points where they can converge and potentially offer better services to their users.
While the industry moves more and more towards modernization, the technologies used have to adapt as well. Aside from bandwidth speed, there are other factors wherein crypto could be used in order to positively impact the telecommunications industry.
The Importance of Adaptation
Adaptation, in any industry, is considered extremely important. While some industries get the pass for sticking to traditional, when it comes to telecommunications which are considered under the technology sector, lack of adaptation can result in the market disturbance.
Although customers of telecommunications only use what they get, this won’t be able to stop them from wanting for more. This puts pressure on multiple telecommunications companies to integrate new technologies, upgrade existing ones, and modify current offerings to make themselves more appealing to the public.
With the rise of cryptocurrencies like Bitcoin and other blockchain technologies, the telecommunications sector is now at a point where it has to adapt. Certain companies like ActivatingATT & BitiQ App are among the few that have incorporated blockchain and crypto technology into the telecommunications sector to offer unique advantages for their users. Learn more about ActivatingATT on the official BitiQ website.
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4 Ways Crypto Can Make an Impact on Telecommunications
Although partnerships between crypto and telecommunications are mostly unheard of, its potential resides in four key aspects. When tapped, these fields could bring better service and user experience to customers.
Four important fields of impact:
- Smartphone-based money transfers
- Bandwidth sharing autonomously
- SMS-based billing
- Cellular device security
Money Transfers Through Smartphones
Making payments is a part of everyday lives, and in certain places where banking systems haven’t penetrated the general market, using smartphones as a tool to send payments could result in revolutionary convenience, efficiency, and widespread use. With tokens native to telecom operators, sending money can be done at a fraction of current rates, at higher speeds, and without limiting time zones.
As a core fundamental of cryptocurrency, using the blockchain to make payment transfers in the most convenient way possible and without multiple third parties through telecommunications is a great way to spark an economy. The more convenient it will be for users to transfer money, the more likely the volume of transfers will increase.
With crypto adaptation to telecommunications, smartphone users should be able to send payments via their smartphone without needing elaborate apps that charge high fees and are sometimes unavailable.
Sharing Internet Connection Autonomously
Providing access to the internet or bandwidth isn’t just a portal for social media or entertainment; it can also be a powerful tool to help businesses, students, employees, and people from all walks of life gain access to information, data, and communication. With the adaptation of blockchain technology, telecommunication companies might be able to offer a wireless mesh network for users to share the internet.
Although it’s too early to tell the success rate of this technology, the effects, if it pushes through, could be groundbreaking for the telecommunications industry as a whole. One problem that commonly arises when it comes to internet sharing is security. However, with blockchain technology, this roadblock could meet its match if developed properly.
Billing Made Easy with SMS
Blockchain technology has the potential to provide a network-as-a-service (NaaS) solution to the underlying problem of mobile payments. Long lines and complicated processing aren’t just considered inconveniences; they are overall deterrents for users just wanting to pay the bills.
The use of blockchain technology in telecommunications could change the playing field forever as its integration could provide an even easier way to pay bills compared to using an app. So far, this type of technology remains in development, but if it pushes through, blockchain technology could assist consumers in making bill payments easier through the simple use of SMS’.
Added Safety for Cellular Devices
For those that remain updated, cellphone users getting hacked is no news as it happens every so often. This type of compromisation, however, shouldn’t be a regular case and consumers shouldn’t have to worry about their messages getting hacked.
While most people blame the telecom industries, there is actually a way to help resolve this little issue and this is through blockchain technology. Telecommunication providers could leverage blockchain technology in order to provide an extra layer of encryption through decentralisation which would in turn protect its users from potential compromise.
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Why Ins’t Cryptocurreny and Blockchain Technology Being Used Already?
With the many benefits that crypto and blockchain technology have to offer, one big question is why isn’t it being widely used already? The answer to this question is adaptation. Since Blockchains function in a more complicated dynamic, adaptation can be quite complicated.
There are currently only a few telecommunication companies that have been able to adapt blockchain technology with more expected to come in the future. The problem, however, is the rate of adaptation.
As the internet is getting faster and faster, the rate of adaptation might also increase as well. With more and more people gaining access to faster internet speeds due to 5G technology, telecommunication companies are also trying to stay one step ahead, making sure they can offer the thing to their users.
Will Blockchain Technology have Negative Effects on Telecommunications?
The answer is YES and NO. Since blockchain technology requires a more advanced system, telecommunications will have to upgrade obsolete systems in order to adapt to the new technology. This can be a good thing for the users but also quite a huge problem for the company.
As a general rule in technology, those that adapt are the ones that survive.
With the transition of telecommunications into the blockchain world, it’s important to get ahead of everyone else in order not to struggle with adoption later on. This is why the BitiQ App allows users early access to this revolutionary technology. To be a part of the future, all you have to do is sign up for free in order to get connected with reputable partners to offer a safe, next-gen, and seamless step into the future through trading.