Can you sell your mobile data that you don’t need anymore? By integrating it with blockchain technology, Hong Kong-based company called Dent, let you sell, buy, and donate mobile data in their marketplace.
Remember, the main key is how do we liberating a digital commodity. Mobile data access is becoming an essential human need, as much as hot water and electricity. However, according to GSMA, in 2016 still less than half of the world’s population uses mobile data. For data users, usage vary vastly across geographies, which shows the huge potential to be unlocked. The reasons are, besides network availability and handset affordability, the perceived high cost of data, which varies from below 1 US dollar per GB to well above 10 US dollar per GB between operators and regions for domestic usage. Furthermore, operators are locking-in customers with rigid data offerings that are made to expire when unused within a given time, which lead to even higher prices per GB that customers effectively pay. As a consequence of the customer lock-in, data usage abroad can become prohibitively expensive with prices per GB in the hundreds or thousands of US dollar. All this generates billions of dollars profit for operators but inhibits unlocking the full potential of mobile data.
In this article we assume that you already understand the basic concept of blockchain technology. But if some of you don’t, let me explain briefly. The term of “blockchain” actually wasn’t used in Satoshi Nakamoto’s whitepaper, it has become quite the buzzword. Satoshi wrote blockchain as block chain (with space between it). In that whitepaper, Satoshi explained that bitcoin define one single entity: as the digital asset and also as a money transfer mechanism.
As time goes, people see that blockchain not only just as money or currency. Blockchain also possible to but help the world by making another digital asset as a layer or app on it. The potential is bigger than we think. Some of the world’s wealthiest and smartest are betting big on this technology’s ability to disrupt other industries, just like bitcoin has done with currency. Since 2009, more than $1 billion of venture capital invested in Bitcoin startups.
Beside coin, token, or virtual currency, we could use blockchain to sell stocks. Instead of issuing shares through exchanges like NYSE or NASDAQ, a company could issue its shares as colored coins on the bitcoin blockchain. The shares could then be sent, received, and traded digitally with very low friction. No middle-man would have to approve or verify the shares. Users in restricted markets would instantly have access to the same financial tools and systems found in more developed countries. Another examples are smart contracts, record keeping, identity, cloud storage, ride sharing and many more.
Your mobile data has the value
So, what about communication data that you use everyday. Is that possible to sell as a digital asset? The answer is, yes it is possible. Let us analyze this situation. So you love your smartphone and using it to play games, watch videos and connect with your friends. To be able to use your apps and download all the things you need on the road, you buy data from your mobile operator. But at the end of the month you lose the data capacity that you didn’t use. Even if you’re allowed to roll the data over the next month, you’ll just lose it later. Operators make big box telling you data that they then take away at the end of the month.
Think about it. The total mobile traffic globally, according to Cisco, is 7,2 billion gigabytes and worth over 32 billion dollars per month. An just 15 percent of is reset by the operators, as unused data that will be 4,8 billion dollars per month. According to a study of Parks Associates, mobile operator data revenues stood at 386 billion US dollar in 2015, equivalent to 32 billion US dollar per month. In a more transparent and connected market, this value shall be unlocked to drive mobile data usage. So you as a users paying too much. Do you think that’s fair? Imagine you are going to a gas station and fill your tank and at the end of the month you have to go back to the gas station and get back the gas that you didn’t use.
I think it is smart enough to liberate the way mobile data is used with blockchain technology. So, take a look for Dent company. They building a blockchain power gained marketplace, which will allow you to buy, sell or donate bandwidth to other users. Not that only, you also able to turn your gigabytes into cash more quickly by extra mobile data at low prices.
Do you think that hard to understand. Let me give a concrete example. You’re flying from New York to Sydney, Australia on a nice little vacation. When you arrive in Sydney you discover that the data package from your origin operator is not supported by Australians operators. Then you would have a text message with a nice offer of twenty five dollars per megabyte. But, if you do the math, you’ll see that you have to pay 25 thousand dollars per gigabyte. The reason behind it is that because the data requests actually go all the way back home to New York and then get routed back to Sydney. Yes, you probably think it is outdated and silly way of doing things, that only serves to make more money for operators.
With Dent app on your mobile device, you can enter marketplace and purchase a data package from a local user. For example, Jane have some extra data for sale. She get the DentCoin, and you get the data package. Now you can watch your favorite TV series just like you do at home without worries. An then Jane can sell DentCoint to her national currency.
About DENT and their ICO
DENT Wireless Ltd, based in Hong Kong, was founded in 2014 as Commando Coder Ltd when Tero Katajainen decided to develop an automated FOREX trading system with built-in risk management functions. Parts of this product are now being integrated into the DENT Exchange to allow buying, selling, and donating of mobile data packages on the marketplace. In 2017, the other founders invested in the company and joined Tero in the adventure to develop and bring DENT Exchange to the world.
Mobile data as a commodity
From the previous explanation above, we could able to see about DENT project quiet smart enough to considering that mobile data was also a commodity. Mobile data access had becomes an essential, its human need. For now, it’s almost equal just like a hot water need or electricity.
With the usefully of the blockchain technology, if mobile data has also been consider as a commodity, so it will possible to be liberated. DENT platform, are about to going used the mobile data commodity, to be able to sell, distributed, and also able to be donated the unused data to other user worldwide.
Here is some of good reason why DENT project would become valuable project
After we take a closer with DENT project, as we able to see the concept by their whitepaper, we could able to see some of the valuable things.
- The main concept to consider mobile data as a commodity. This is the most valuable things about DENT, it might the first crypto project with the smartest ide to called mobile data as a commodity.
- Going to liberate mobile data as commodity, so people around the world would be able to sell, distributed, or even to donate the unused mobile data with others.
- Disrupt the international roaming system. With the DENT platform, it’s possible to removed data roaming fees.
- In order to be able and run the platform, so with DENT platform try to facilitate mobile data purchasing. Blockchain technology, was the best option, and that’s exactly what Dent platform was used.
- DENT could be able becoming an open marketplace for mobile data worldwide. DENT platform, used the DENT Token created based on Ethereum Smart Contract to do this.
- Using DENT mobile data application that will make user easier to buy, sell, or even donating mobile data packages.
- User also able to use DENT platform to donate unused mobile data to people who needed. DENT also developing market they called “Gigabytes for Africa”.
If you think DENT mission is great? You can participate in their DENT token crowdsale. Estimated token value in ETH offered in this token sale equal to 152,000 ETH. 100 Billion (100,000,000,000) total tokens created, of which 70% will be sold in the token sale (presale + public token sale)
The Company begin the crowdsale on July 12, 2017 and end at 22:59 UTC on July 26, 2017 or when 70,000,000,000 DENT tokens have been sold, whichever is earlier. For further information, visit dentcoin.com.