Illinois, Tennessee And Arizona Approve Blockchain Smart Contracts, Three More States Intro-duce Bills; iQSTEL Inc.’s New Subsidiary itsBchain Completes Blueprint Of Blockchain-Based Payment Solution Software
Illinois, Tennessee and Arizona have approved blockchain smart contracts — validating their use in court — and Ohio, New York and Nebraska are considering similar bills. Blockchain is a new technology advancing smart contracts. iQSTEL Inc. (OTC: IQST) recently closed on its purchase of a 75% stake of itsBchain, a blockchain solutions provider. In turn, itsBchain has completed its blockchain-based payment solution software blueprint which can shorten the receivables timeframe from 35-40 days currently to as little as one day.
Blockchain is in the news daily. Media companies such as Stock Market Press are reporting on the fast growing blockchain and 5G telecommunications market. It keeps readers up to date on 5G company stocks such as iQSTEL Inc. (OTC: IQST), Motorola Solutions, Inc. (NYSE: MSI), China Mobile Limited (NYSE: CHL),Verizon (NYSE: VZ), AT&T Inc. (NYSE: T), T-Mobile US (NASDAQ: TMUS), Sprint (NYSE: S) and Ericsson (NASDAQ: ERIC), HIVE Blockchain Technologies Ltd. ( (OTC: HVBTF) and Long Blockchain Corp. (OTC: LBCC) in 5G and blockchain networks. Also covered are trends by semiconductor manufacturers Qualcomm (NASDAQ: QCOM), Qorvo (NASDAQ: QRVO) and Skyworks Solutions (NASDAQ: SWKS), among others.
Illinois, Tennessee and Arizona Approve Blockchain Smart contracts, Three More States Introduce Bills
Blockchain is a high technology that is revolutionizing the legal profession with a new type of legal accord which cuts down on the need for lawyers to draft and enforce contracts. Instead, smart contracts are living documents which are transparent to ensure that all parties may see that companies or individuals follow up on agreements — making payments, etc. The approval by the states ensures the legal binding nature of smart contracts from blockchain.
iQSTEL Inc.’s Subsidiary itsBchain Completes Blueprint Of Blockchain-Based Payment Solution Software
Blockchain is a multi-task technology, which can be applied to numerous daily business transactions. For example, iQSTEL Inc.’s (OTC: IQST) new 75% owned subsidiary itsBchain is a blockchain solutions provider which have developed a blueprint for Voice, SMS and Data Wholesale Carrier Settlement and Payment Platform for Tier 1 Carrier Interconnects Such As Telefonica and Deutsche Telecom.
iQSTEL Inc. (OTC: IQST) has acquired a 75% stake of itsBchain, a blockchain solutions provider, with plans to develop telecom blockchain solutions for carrier, corporate and retail markets. itBchain in turn has completed its blockchain-based payment solution software blueprint of Telefonica, Deutsche Telecom and other Tier 1 Carrier Intercepts. iQSTEL Inc.’s subsidiary itsBchain completes blueprint of blockchain-based payment solution software. Illinois, Tennessee and Arizona approve blockchain smart contracts, three more states introduce bills.
Blockchain Technology Turns The Payment Processing World Upside Down
In a statement, iQSTEL Inc. (OTC: IQST) said, “Blockchain technology is turning the payment processing world upside down. Rapid processing with fraud mitigation all in one forensic friendly system will drive the Telecom market out of the dark ages into the 21st century.” The software blueprint is for its blockchain-based Voice, SMS and Data Wholesale Carrier Settlement and Payment Platform.
Mr. Iglesias, CEO of iQSTEL Inc. (OTC: IQST), Sees Receivables Time Frames Fall
Mr. Iglesias, CEO of iQSTEL Inc. (OTC: IQST), said, “The demand for an efficient Tier-1 payment system is felt across the telecom industry as a whole. Currently, receivables time frames are 35-40 days. Our vision in istBchain is to be the first blockchain solution for this market, dramatically reducing the receivables time frame to as little as a day.”
He said he anticipated early Q3 delivery for beta testing the payment solutions platform with some of the company’s largest carrier clients, such as Telefonica (Spain and Latin America), Millicom (Tigo brand for Latin America), Telecom Italia and Deutsche Telecom.
The Payment System Is Designed With Blockchain To Bring Transparency, Efficiency And Increased Profits
Like the transparency engendered by a new legal smart contract, an important element of the blockchain-based payment solution software blueprint by itsBchain is fraud prevention. Mr. Iglesias said, “Today, the carrier interconnection market is worth hundreds of billions of dollars per year and our system will bring transparency, efficiency and increased profits to the carriers.” Illinois, Tennessee and Arizona approve blockchain smart contracts, three more states introduce bills.
iQSTEL Inc.’s (OTC: IQST) itsBchain subsidiary blockchain solutions provider, plans to develop telecom blockchain solutions for carrier, corporate and retail markets
iQSTEL Inc.’s (OTC: IQST) Mr. Iglesias, CEO of iQSTEL, said itsBchain is uniquely positioned to develop telecom applications based on smart contracts and blockchain technologies. Mobile number portability and carrier wholesale VoIP, SMS and Data payment solutions are just two of the projects itsBchain has under development, he said.
Mr. Iglesias has been invited for an interview March 25 at NASDAQ Marketsite in Times Square, New York, to discuss the company’s performance and its future plans. It is growing its capabilities with numerous subsidiaries. In addition to itsBchain, QSTEL Inc. (OTC: IQST) wholly owns Miami-based subsidiary, Etelix.com USA, LLC, an American-based 5G provider of Submarine Fiber Optic Network capacity for internet (4G and 5G). It owns 51% of SwissLink Carrier AG. SwissLink Carrier AG provides international VoIP connectivity worldwide and more. It also owns 51% of QGlobal SMS LLC, a U.S.-based company which has international interconnection with Tier 1 SMS aggregators to more than 100 countries worldwide.
Source: Stock Market Press
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