Disruption is the name of the game when it comes to the blockchain. We’ve seen industries such as finance, online gambling, publishing and supply chain logistics, forced to compete with new blockchain based companies.
Qlink is hoping to sound the death knell for the ever inefficient telecommunications industry. Because of the high cost and low security of telecoms, the time is ripe for a new generation of mobile systems.
Qlink is setting up telecom services on its own blockchain using Neo’s NEP-5 protocol. They plan to offer decentralized Wi-Fi sharing, mobile data for content distribution and a hardware Wi-Fi sharing hub.
How To Buy QLC
So you’re interested in buying QLC? Currently, there is no way to buy QLC directly with fiat, so the best way to buy QLC is to first purchase Ethereum, transfer it to your chosen trading platform and change it to QLC. We’ll show you how.
2. Once your account has been created and confirmed, log into your Binance account. Once you have logged into the account, go to the menu, click on the funds section and then deposit on the drop down bar.
3. Once you’re on the Deposit section, click the drop down menu labeled “Select Deposit Coin” and look for Ethereum, or type ETH and select.
4. This is your Ethereum Deposit Address, we have chosen Ethereum instead of Bitcoin due to the lower fees and transfer times. Next we’re going to look at buying Ethereum and depositing it into your Binance account.
1. First change the Buy option from BTC to ETH for USD and then choose your amount.
2. When you have chosen the amount of Ethereum you want to purchase (A minimum of 0.05 ETH is required), you will need to register and confirm your CEX account and payment details.
Once that has been confirmed and the ETH has been deposited into your account, we will then need to move it over to Binance.
3. Select the Withdraw option at the top of the site and select Ethereum as your currency. You will then be given a field, where you will add a wallet. This is where you can transfer your money to Binance.
4. Go back to your Binance Account and copy the alpha numeric code under your Ethereum Deposit section and paste it into your Ethereum Withdrawal section on CEX.io. Confirm that this address is correct and press “Withdraw“.
Your Binance account will now be credited with Ethereum.
2. On the trading platform, select the ETH section and use the search function to search for QLC/ETH and confirm.
3. On the QLC/ETH trading section you can now choose how much QLC you want to buy with your Ether. Once you have chosen your amount, press Buy QLC and place your order.
Once your order has been fulfilled, your account will be credited. Congratulations you’re now the proud owner of QLC.
By using the blockchain and smart contracts, content and services can be better distributed.
The creators of Qlink are also the founders of Youyou Mobile, so not only do they also understand the telecom industry, but they will link Youyou to Qlink as the first of the mobile companies to take their service on the blockchain.
Peer to Peer wifi sharing is possible through the use of the blockchain so people can connect onto a wifi hotspot no matter where they are in the world. This is great news for people who travel a lot and don’t want to deal with finding local providers wherever they end up. Users who allow people to connect to their wifi are rewarded for doing so with tokens called QLC.
Of a great benefit to both the users and telecom companies is the use of the smart contracts billing system. Users will only pay for the data they use and companies can stop using their old way of billing which ends up costing them money as well.
That new billing system can also help cut out the middleman so to speak. Content creators can advertise directly to their audience without having to pay data costs themselves. Now app developers, movie studios etc can target their fans without using an ad network, for example.
There’s even a unique take on SMS use. Almost like AirBnb, users that don’t use all of their allotted SMS messages could allow businesses to use their unused messages which they would otherwise have to pay the telecom company for. Users would then be paid in the token for sharing.
There are many use cases that would showcase the ways in which the blockchain could shake up the industry. The bottom line is that if they can scale this then it could really mark the end of extortionist telecom companies.
Using their token, QLC, will pay for rewards for users as I already mentioned, but also the GAS costs associated with creating smart contracts. This is a great way to help people get the most out of their service, build loyalty and offer a more streamlined experience with their mobile phones than they get currently.
Getting big telecom multinational companies on board may present a pretty big challenge. However, there is a lot of possibility with this network gaining mass adoption and smaller companies joining in to create a broader, more attractive mobile provider.