The last week of April brings with it the official launch of another blockchain-based technological innovation. Miracle Tele, a Prague-based company just became the world’s first blockchain powered mobile virtual network operator.
Burciks Andrejs, the CEO of Miracle Tele, has worked with several Latvian companies over the past few years to introduce blockchain technology in their businesses. He then decided to launch his own telecom company with the aim of using emerging technology to change people’s lives. Miracle Tele, provides high quality mobile and data services to people around the globe with the use of just one SIM card.
“We analyzed the blockchain MVN market, understood that there is literally zero competition, and decided to seize the opportunity,” says Andrew Burchik.
Taking into account recent closures of crypto-projects who go for ICO, Miracle Tele provides customers with the option to use its telecom services as if it’s a common mobile operator or to tokenize their assets and purchase a mobile plan using TELE tokens. With the use of Ethereum blockchain, customers who opt to store TELE token are eligible for bi-weekly token holder rewards and a stake in the amount of 40% of the company’s net profits divided between all of the token holders.
Amidst daily news of potential customer privacy violations by Cambridge Analytica and Facebook, privacy rights have becoming an increasing concern to customers worldwide. Acknowledging the importance of privacy rights to customers, Miracle Tele ensures a customer’s right to privacy through the use of blockchain technology. A customer need not provide any documents for ID verification or disclose any private information to get started. All transactions in the system are secured by smart contracts or cryptocontracts.
The company’s innovative plans don’t just stop at providing affordable mobile and data services. By 2020, they aim to reach at least 100,000 active customers and introduce new blockchain-based telecom services like prepaid debit cards and proprietary wallets.