Dentcoin – Tokenizing the Mobile Data Industry
Dent, an upcoming cryptocurrency, will be released on the Ethereum blockchain. The project hopes to take on telecom corporations to reclaim lost mobile data – about fifteen percent of which telecoms reclaim at the end of each month. Such data loss has resulted in billions of dollars in data being unfairly taken away from consumers. The Dent currency will be the medium of transaction between mobile data users so that extra gigabytes may be traded on the market as a commodity. Users of Dent will be able to buy, sell, and donate data The system will also organize data for maximum efficiency; each purchaser will obtain affordable data from the most suitable operators in the area. Ultimately, the sheer number of Dent users will force corporations to negotiate better standards for consumers.
The problem addressed by Dent is immense – $4.8 billion USD in data is left unused by telecom customers per month. Nevertheless, the issue can be solved through consumer bargaining power; each telecom customer is worth an average of $460, based on spending and amount of time with his/her company. By buying Dent currency in large numbers, such as at the coin’s crowdsale, consumers will incentivize companies to partner with the project.
Telecom will charge transaction fees for whenever data is bought or sold, keeping profits while allowing consumers to be free with their extra data Thus, mobile data users will then be able to transfer data liberally, even internationally. The projected value of 1 Dent is 1 megabyte of data Still, the value of the coin relative to the dollar may increase if Dent-purchased data is significantly cheaper than traditional plans, hence increasing demand while the number of Dent coins remains constant. The finite number of Dent coins is 100 billion. The main risks for Dent are cryptocurrency regulation and scaling issues.
However, additional infrastructure for the coin could be created if necessary. Not only will Dent be traded between mobile data users, but it will also be donated to developing nations such as those of Africa. The Dent team has pledged 1 billion Dent coins to advance the UN SDG program which brings connectivity to poor parts of the world. Anyone can join the Dent community by purchasing Dent coin and participating in the foreseeable global data market. The release of this new cryptocurrency will revolutionize the telecom industry and empower the people to free data as a commodity.