iQSTEL Developing A Payment Blockchain Platform For International Long Distance Telecom-munications With iQSTEL ‘Tokens’
iQSTL (OTC: IQST), a leader and innovator in 5G international telecommunications, is developing a payment platform for international long distance (ILD) telecommunications operators using the ‘iQSTEL Token’ as payment for faster and less expensive settlement of payments and reconciliation using the iQSTEL blockchain PSP the company site says.
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) 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.
iQSTEL (OTC: IQST) Developing A Payment Blockchain Platform For International Long Distance Telecommunications With iQSTEL ‘Tokens’
The company is developing the blockchain-driven platform based on the experience of its Etelix subsidiary in the ILD Wholesale voice exchange services, using real time/online blockchain protocol, with the iQSTEL Blockchain PSP. According to the iQSTEL website, the platform called the Blockchain Payment Solution Project (Blockchain PSP) offers numerous benefits:
- Reduction of credit risk, since all sales are considered ‘cash sales’;
- Since the collection is in real time, bad debt losses are reduced;
- The iQSTEL ‘token’ payment eliminates bank transfer fees;
- Trade insurance policy fees are eliminated, resulting in lower costs;
- Reduction of losses due to disputes due to real time check cashing. Potential disputes are detected early in the settlement process.
In order to participate in the program, the operators need to have the iQSTEL Blockchain PSP installed with its voice exchange switching system and the iQSTEL ‘token’ wallet must have a positive balance, the company site said. iQSTEL will then exchange the transaction-spent ‘token’ for US$ and/or Euros. iQSTEL (OTC: IQST) developing a payment blockchain platform for international long distance telecommunications with iQSTEL ‘tokens’.
iQSTEL Inc.’s (OTC: IQST) Takes Advantage Of Subsidiary Etelix In The ILD Wholesale Market
Parent company iQSTEL Inc. (OTC: IQST) has developed the new blockchain protocol platform for international long distance (ILD Wholesale) from experience by wholly-owned and Miami-based subsidiary Etelix in the ILD wholesale market. The new international payment program saves time, reduces costs, and saves fees due to real time settlements deemed as ‘cash’ payments. Risk is designed to be reduced in this real time settlement platform, which uses iQSTEL ‘tokens’ for payments among operators. iQSTEL (OTC: IQST) developing a payment blockchain platform for international long distance telecommunications with iQSTEL ‘tokens’.
iQSTEL Inc. (OTC: IQST) Focuses On International Payments With Blockchain Subsidiary itsBchain
Blockchain is quicker and less costly in completing transactions. iQSTEL Inc.’s (OTC: IQST) subsidiary ItsBchain also offers software that can virtually eliminate fraud, a critical issue in the large transaction payment processing transactions. Blockchain is also seen by experts as offering digital records to document transactions and, if necessary, not only prevent fraud but play a role in the recovery of stolen monies after the fact.
Cross-border payments are increasing: 56% of large enterprises globally will plan to adopt blockchain technology by 2020 for transactions, such as international payments, according to The SpiceWorks research. It reports that large international financial institutions are turning to blockchain technology for smart contract-like transparency in providing to all parties visibility of payments.
iQSTEL Inc.’s (OTC: IQST) subsidiary itsBchain Shortens Processing Time
iQSTEL Inc.’s (OTC: IQST) subsidiary 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.
From The Dark Ages To The 21st Century
Blockchain offers quicker payment processing, accurate smart-contract and general ledger transparency and cost-savings due to the elimination of third party records. The remaining matter is fraud mitigation — a serious issue in these large transactions within the blockchain ecosystem. Blockchain’s technical ledgers and smart contracts offer efficiency and transparency in international payment processing. iQSTEL Inc.’s (OTC: IQST) 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.”
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 is in demand.
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 has under development a number of projects, including mobile number portability and carrier wholesale VoIP, SMS and Data payment solutions. Blockchain-driven quick payment solutions between telecom carriers are in demand due to their speed, accuracy and fraud mitigation.
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
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Contact:
Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com
Safe Harbor Statement: Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press
