SMSCHAIN Wants to Use Blockchain to Turn Unused Text Messages into Money

SMSCHAIN has announced the launch of the blockchain based application that is said to connect everyone willing to sell their unused SMS to aggregators, providing A2P (application to person) SMS delivery services to businesses on a global decentralized platform.

Andrey Insarov, CEO of SMSCHAIN, also leads Intis Telecom, EU-based telecommunication company with offices in the UK and in Lithuania, that is said to have more than 500 companies as clients around the world. Oleg Makarov, COO of SMSCHAIN, is a CEO of TelQ, an international Bulk SMS Gateway, SMS marketing platform and SMS Test Number services provider.  The company is being advised by Oleg Seydak, CEO of Blackmoon Financial Group, a company that says its recent ICO raised $30M in less than 20 hours.

As one would expect, SMSChain is preparing to launch their own Initial Coin Offering (ICO). If you are curious about this one, read the White Paper here and then do your own research.

According to the team, using blockchain will help resolve such current issues with GSM SIM Gateways suсh as expensive equipment, geographical limitations, need for continuous maintenance and more.

A2P is described as a very promising market estimated to grow by $70 billion by 2020. The decentralized nature of SMSCHAIN application operating expects to allow SMS aggregators to connect to the nearest SMS holder willing to send it through their device seamlessly and with full transparency.

“SMSCHAIN is a fully decentralised system in which anyone in the world can participate and benefit from.” says Andrey Insarov, CEO of SMSCHAIN. “Decentralisation significantly increases the efficiency of SIM gateways, allowing networks to be easily scaled up at a low cost and providing global coverage, which is impossible to achieve with current solutions.”

The network will be operated by auctions created by SMS aggregators. The requests will have the following information: destination, volume of SMS traffic, price and text templates. Users of the SMSCHAIN application will go through the list of requests and accept those which interest them. They will also be able to pre-approve all messages sent through their devices so there will be full transparency and trust from both sides. Users receive financial rewards upon the execution and fulfilment of messaging agreements stipulated by auction contracts and get paid only after delivering SMS messages. The first version on the application will be developed for Android devices so no iPhones.

“We truly believe, that the A2P SMS market has a crucial need for tech disrupt. Blockchain opens incredible opportunities for all the parties involved. For users it allows getting profit from unused text messages already included in their plans, and also being a part of global P2B network. For businesses it solves main issues with SMS delivery and gives easy deployment and globalisation, equipment and maintenance costs reduction, as well as the ensurance of contract and payment compliance,” explains Oleg Makarov, COO of SMSCHAIN.

 


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