News
Bubbletone Collects $8.6 Million via ICO and Successfully Tests Proprietary Roaming-Free SIM Card
Bitcoinist | Jun 30, 2018 | 13:30
The blockchain-based global telecom platform Bubbletone has successfully completed its ICO, collecting $8.6 million. All Universal Mobile Tokens (UMT) will be issued to crowdsale participants by 10 July.
Soon the company plans the market launch of an original roaming-free Bubbletone SIM card that developers are already actively testing in the US and Europe. In addition, a Bubbletone affiliate – Baltic Clementvale LTD – has applied for admission to the International Telecommunications Union (ITU) and received an MVNO license. As a result, Bubbletone will be able to create its own offers for clients in the European market of telecommunication services. UMT token holders will be able to enjoy these and many other innovative benefits.
Bubbletone is resolving the issue of high-cost roaming for travelers by eliminating the services of intermediaries and enabling them to connect to local networks without having to change their SIM cards. The project brings together mobile service providers, specialized service companies and users of mobile devices, who will be able to enjoy top-quality communications at a reasonable price, without having to waste time on a trip to a mobile operator’s office on arrival in another country: thanks to the blockchain, the client identification process will happen automatically.
Since late September 2017, the creators of the project have showcased it at over 30 of the largest industry events globally, such as: the Digital Transformation Forum in Nice, the Coindesk Consensus Conference in New York, the MVNO World Congress in Madrid, London Blockchain Week, 121 Tech Investment in Hong Kong and many others.
Joakim Holmer, Advisor to Bubbletone, allcoinWiki co-founder and former senior executive at Ericsson, noted:
As I advise many great ICOs, I have seen the market become more competitive month by month. Unlike at the beginning of the year, now only the truly great projects make it. I see something very positive for an industry moving to ICO Generation 2.0. I am also happy to see that crowdsale participants valued Bubbletone’s existing business performance and leadership by contributing $8.6 million to the project.
During the ICO, the company concluded a number of important partnership agreements. In particular, it signed a cooperation agreement with ShoCard – a startup that is establishing a digital identification system, encodes and integrates the personal data of the user in the blockchain, eliminating the risk of data loss by a third party. Another agreement was signed with the DeHedge project, a blockchain platform for hedging the risks of investments in decentralized technologies and ICO projects.
Bubbletone has successfully passed all the necessary compliance assessments, and now its clients have an opportunity to acquire an unlimited number of protected UMT tokens. The company also concluded a swap agreement with Kasko2Go – a blockchain-based car insurance ecosystem – which will offer careful drivers cheaper insurance, and insurance companies the ability to identify high-risk clients.
Under the terms and conditions of the agreement, Kasko2Go acquired UMT tokens worth $1 million, while Kasko2Go clients will be able to use the international mobile communication services provided by Bubbletone.
Anders Larsson, Advisor to Bubbletone, ex-Ericsson VP, and co-founder of allcoinWiki, observed:
In Q2 2018 we reached 7.9 billion mobile subscriptions vs. 7.6 billion people on the planet. 85% of all phones sold today in the world are smartphones. 4G is already bigger than fixed Internet. Even with 5G and IoT entering the scene, what I am most excited about right now is adding blockchain. Bubbletone is merging these technologies, and as a project advisor I was not surprised to see the token sale completed successfully despite the tough ICO market. I’m truly excited about the next steps!
The company is preparing to list its UMT tokens on several exchanges. It is anticipated that the tokens will be available on the HitBTC and Exrates exchanges in July. The token will also be available in the Bancor decentralized network, which guarantees continuous liquidity for tokens.
The blockchain component of the Bubbletone messenger is being developed. Its gradual rollout will start soon. Bubbletone also plans to sign agreements with mobile operators all over the world and to conclude a partnership with the NDA platform.
Bubbletone founder Yury Morozov commented:
Our blockchain technology is already fully operable and is currently undergoing load testing. We are seeing growing interest in our project from the biggest global players in telecommunications. […] The ICO was only the first step. We will continue actively developing our product, holding negotiations with possible partners and cooperating with mobile operators all over the world.
The platform creators continue participating in key blockchain and telecommunications events. On July 12 representatives of Bubbletone’s team will talk about the capability of blockchain technology and its proprietary Blockchain app to transform telecommunications at a meeting with the International Telecommunication Union (ITU) in Geneva, which will be attended by the heads of the biggest global mobile operators and state regulatory authorities.
You can find out more about the project at Bubbletone’s website – https://bubbletone.io/.
Did you participate in the Bubbletone ICO? What are your thoughts on the upcoming launch of their roaming-free SIM card? Let us know in the comments below.
Images courtesy of Bubbletone
