Since the advent of blockchain technology, it has become increasingly obvious that it has widespread application in various industries. Telecommunication companies have been seeking ways through which it could be applied to the industry. Horizon Communications, a telecom startup intends to revolutionize the industry using blockchain.
As we saw the company postponed its ICO, with the intention that all details were properly revised, this time with its ICO about to begin we can delve deeper into this project.
The Bermuda based company plans to launch a state-of-the-art telecommunications service and has announced its pre-sale will incorporate a “Three times midterm bonus”. This is an incentive which investors can take advantage of to increase their crypto portfolios by buying into the lucrative telecom sector.
Incorporating the distributed ledger technology into telecom services takes advantage of the security and immutability it provides. For instance, call data can be recorded on the blockchain while encryption technology in conjunction with Internet of Things (IoT) can be applied on telecom platforms to give subscribers greater control of what messages they receive. This is an effective way to block spam calls and messages coming from telecom companies.
Speaking on the innovation, the company president, Gilbert Darrell said,
“We are seeing blockchain utility across board in our implementation in streamlining internal processes. The strength of this technology is in the transparency it provides. This enhances trust and security in any ecosystem to which the technology is applied. Our target at Horizon Communications is to create a model communication services provider that will be exemplary of how telecom service should be operated”.
Darrell said that the company would apply the distributed ledger technology to its billing system as well as introduce the first smart contract based company-customer relationship in the industry. Blockchain application may also be applied in identity verification, roaming and prevention of fraudulent traffic, while concurrently strengthening the system through the use of smart contracts to eliminate clearing houses. This will make cheap internet services available through the elimination of clearing houses.
On the “three times mid-term bonus,” he said that it is an incentive meant to create more awareness among investors of the prospects of the Horizon token (HRZN). Darrell said that the reason investors are interested in the Horizon token is that the company is providing services in an industry with very high potential for profit considering the large market not yet effectively served by telecom companies. According to him, buyers of the company’s token within this window period gives investor three times value of token purchased.
Horizon Communications plans to implement the latest wireless telecom service in the Caribbean launching from Bermuda, then Central and South America. These are regions where communications and internet services are sometimes disrupted due to natural disasters. This new technology when deployed ensures that these regions communication services remain intact irrespective of the challenges.
Darrell said that company’s ICO team and advisors are among the best veterans of the 3G to 5G networks and are working at making the company one of the most innovative melting point of the two technologies.