Telecom is home to some of the most powerful corporations the world has ever seen. Collectively, these companies profit hundreds of billions of dollars each year. The vast portion of those earnings that are directed to R&D tend to focus on one goal: speed.
The bulls-eye focus the Telecom sector has had on speed has led to only horizontal advancements. Vertical advancements, in most industries, are driven by startups, but due to the incredibly high entry barriers in this particular industry, a few companies have created situational oligopolies in virtually every country. This lack of competition has encouraged stagnation as the sector advances at a pace far slower than other technology-driven markets.
In the last two years, however, there has been a rise in disruptive solutions within traditional industries. Particularly, blockchain technology, and its enabling of token sales, has allowed disruptive new technologies to not only decentralize their networks, but also acquire the capital needed to break monopolies, push bold notions, and democratize opportunity. Understandably, several ventures, hoping to capitalize on the opportunity that blockchain technology has provided the world, have targeted the telecom sector.
However, none of the ventures have materialized into an effective solution, and most have not even delivered a real product.
Current blockchain-sourced solutions to the telecom monopolies have focused on increasing competition among telecoms. Pitting industry juggernauts against each other is a transient solution. A new blockchain startup has spent nearly the past two years developing its own telecom network; THIS is the right path to disrupting the Telecom sector at a global scale—and that is the exact mission of the founders of ELYNET.
On one hand, a country has announced access to internet as a legal human right. Yet, on another hand, the companies in control of internet access remain steadfast in positions of power. They leverage this power to charge what they will for something that is indeed a human right: Mobile connection has become a necessity work, family life and, some would argue, even joy.
The current state of the Telecom sector needs change, and with that exact motivation, ElyX has managed to utilize the blockchain to deliver a global data network that is not reliant on any existing Telecom company.
ELYNET is the first-ever data provider that is going to operate across the world at the same flat fee. Say goodbye to roaming fees!
Despite providing such a vast network, ELYNET operates on some of the lowest fees in the Telecom sector by reinventing how communication works. At present, SIMcards offer the identification needed to correctly connect users. ELYNET has instead created a SIM-less network through the delivery of the Crude OS. This operating system harnesses blockchain technology to authenticate each user’s identity. Along with this, ELYNET distributes other network burdens across the entire blockchain network.
Through its novel innovations, ELYNET is made accessible to users at less than half the cost of the average world data consumption cost.
ELYNET has made data accessible on a global scale at a price that is less than half the fee many people pay for domestic rates. This is not a project that is part of a university theoretical discussion or peer journal. It is already live! The project raised seed capital and built this revolutionary telecom network, and subsequently made it accessible at a global scale.
While ELYNET is accessible for $2.40/GB, there are countries in the world where high-quality data can cost more than 30 times this price—this is a sad reality.
Average Price of 1 GB; source
In 180 countries, high-quality data can cost well over ELYNET’s introductory price of $2.40/GB. What’s more, roaming charges can make the fee magnitudes higher. ELYNET is a remedy to this problem and the service will hit consumers this quarter, making it not only one of the most advanced telecom developments to date, but also one of the extremely few blockchain projects with a highly effective business plan.
Despite being a for-profit business—something other blockchain projects need to pursue to remain sustainable—ELYNET is solving a key problem faced by consumers across the world by offering incredible cost-effectiveness to a basic human necessity.
ELYNET’s name is derived from the word elysium, which is defined as a state or place of perfect happiness. In other words, ELYNET is Network Paradise. Happiness is not a word generally used to describe the average user’s relationship with their mobile carrier, but ELYNET wants to change all that.
CRUDE was given its name to elicit thoughts of raw material, opportunity and potential; something you can build off of. ELYNET’s ecosystem can be built out and will offer users a platform with endless sharing possibilities encouraging the creation of new business and offering users the opportunity to earn profit. At one point in the future, the goal is that eventually, for users, the mobile data will pay for itself and when a precious commodity like that mobile connection is free of so many hassles, it really is paradise.
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