Take it or leave, innovative startups are never retiring to sleep soon. The game of disruption is hitting hard. Sooner or later, everything would soon be stretched to its limits. Pundi X has taken the first bold step.
Now in Rwanda, it has launched the first-ever Blockchain-powered smartphone on the African continent. The Singapore based technology company says the new phone blockchain mobile phone will allow everyone to make a phone call on the blockchain.
Here Is How The Whole Thing Works
- The blockchain-powered smartphone is to be known as XPhone, and very much unlike many phones powered by android, IOS and Windows systems, the XPhone is powered by Function X (FX) operating system — a blockchain system.
- According to Pundi X, a blockchain phone uses blockchain technology which powers many things like bitcoin, digital land titles, and medical records.
- With XPhone, users are connected to the blockchain — everything they do from texting and calling to taking photos and browsing is transmitted via the blockchain.
- In this sense, users are in control of their data.
- In a case of Rwanda, for instance, if you had an XPhone, MTN or Airtel would not be able to access your information.
- Blockchain as an emerging technology is increasingly becoming popular with many applications being invented every day.
- The technology is mostly known for financial services. This is the technology that powers bitcoin and ethereum (the world’s top digital currencies).
- The technology enables people to own digital money and transact between themselves without the presence of intermediary or central authority like financial institutions.
- In some parts of the world, people are already using bitcoin (a form of electronic money) to make transactions without the need of banks, purchase goods and services and buy music online.
- But blockchain technology is generally considered to have other real-life applications like helping in designing smart contracts, enable digital voting, create digital Ids, and enhance supply chain management, just to mention but a few.
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The startup unveiled the phone, XPhone, at the GSMA Mobile 360 Africa and it said it was the first blockchain mobile phone launched in Africa.
“The XPhone allows everyone to make a phone call on the blockchain,” Zac Cheah, the company’s chief executive officer said while unveiling the phone.
Xphone Is Out To Confront Data Mining By Mobile Network Providers
Here is why Xphone is the deal:
- XPhone will have no centralized service provider, making it secure as consumers are in charge of their own data. Very much like no MTN, or Vodafone or Orange.
- The XPhone has an open-source which means that anyone that is interested to build applications and services can do it easily.
- The blockchain smartphone will enable you to make a smooth transition between blockchain and traditional Android mode.
- The company says it plans to produce only 5,000 XPhones in late 2019, but that it was looking to partner with telecommunication companies to produce more blockchain phones.
This is a huge moment for all the stakeholders in the mobile telephone industry. Blockchain phones would definitely serve some purposes: eliminate data mining by spy groups; store information permanently into the blockchain; (making it easier to retrieve information on occasions of lost phones)as well as have access to normal phone services.
Now, here is one problem Zac Cheah and his startup would have to face: Zac Cheah and his startup are likely to face quite some questions regarding whether the new phone could be easily commercially and widely accepted as people take a while to adopt some of these complex technologies. To put the question succinctly, how many people know what blockchain technology is?
Another thing: government regulations and approvals! This could be another puzzle for the entrepreneurs since most governments across the world have been less responsive to large scale adoption of blockchain technology.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.