In Coronavirus Pandemic, Remote Technology Blockchain Raises Its Profile
In the global coronavirus pandemic, who would have expect blockchain technology to emerge with a higher profile as a remote application for social distancing businesses seeking fully transparent payment processing transactions and smart contract verification. Blockchain enables numerous transactions to be done from remote locations and eliminating in-person contact.
Blockchain is making 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.
In Coronavirus Pandemic, Remote Technology Blockchain Raises Its Profile
Blockchain is a technology that offers reduced cost, highly transparent and remote transactions from payment processing internationally to smart contracts performed domestically. Either way, blockchain replaces in-person meetings with remote monitoring of legal agreements and cross-border payment processing. It offers speed, full transparency and more accurate identification of participants. It could not have been available for application at a better time. In coronavirus pandemic, remote technology blockchain raises its profile.
In legal contracts, blockchain offfers smart contracts that enable remote participants the opportunity to see that all parties are paying on time and taking actions that are required by a general agreement, Rather than negotiating in person, or reviewing the document in person, all can be done in a transparent manner in a remote location. It is perfectly suited to a stay-at-home strategy. In coronavirus pandemic, remote technology blockchain raises its profile.
Blockchain Payment Processing: Quicker, More Accurate And Mitigates Fraud
iQSTEL Inc. (OTC: IQST) and subsidiary itsBchain not only shortens time for payment transactions, it also mitigates fraud and makes these transactions more smart contract-like transparent.
iQSTEL Inc.’s (OTC: IQST) subsidiary, blockchain solutions provider itsBchain, has completed its blockchain-based payment solution software blueprint which addresses global banking’s issue of international fraud and inefficient receivables timing. It can make fiscal transactions more transparent, virtually eliminate fraud and can shorten the receivables timeframe from 35-40 days currently to as little as one day. The blueprint is for Voice, SMS and Data Wholesale Carrier Settlement and Payment Platform for Tier 1 Carrier Interconnects such as Telefonica and Deutsche Telecom.
Blockchain-Driven Quick Payment Solutions Between Telecom Carriers In Demand; iQSTEL Inc.’s Subsidiary itsBchain Software Is Fast, Mitigates Fraud
Blockchain is disrupting numerous industries including global banking. New technical ledgers and smart contracts offer efficiency and transparency in international payment processing. Now, iQSTEL Inc.’s (OTC: IQST) 75% owned subsidiary itsBchain is applying that technology to speed up global processing of receivables and virtually eliminate fraud in these transactions.
Mr. Iglesias, CEO of 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.
The Payment System Is Designed To Bring Transparency, Efficiency And Increased Profits
Another important element of this blockchain-based payment solution software blueprint 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.” Blockchain-driven quick payment solutions between telecom carriers in demand; iQSTEL Inc.’s subsidiary itsBchain software is fast and mitigates fraud.
Mr. Iglesias 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.”
itsBchain Positioned To Develop Telecom Applications Based On Blockchain Technologies
iQSTEL Inc. (OTC: IQST) recently acquired the 75% stake of itsBchain, which has completed its blockchain-based payment solution software blueprint for Telefonica, Deutsche Telecom and other Tier 1 Carrier Intercepts. The significance is that the blockchain technology blueprint software is disrupting the global banking industry and addresses timing and fraud issues of fund processing in the banking and telephonics industries.
Mr. Iglesias 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. Blockchain-driven quick payment solutions between telecom carriers in demand; iQSTEL Inc.’s subsidiary itsBchain software is fast, mitigates fraud.
iQSTEL Inc. (OTC: IQST) Adds To Telecommunications Subsidiaries
In addition to its 75% stake in subsidiary itsBchain LLC, iQSTEL 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 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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