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The telecom industry currently exists as a sprawling network of over 6000 players, commanding a market worth over $120 billion. However, it is riddled with inefficiencies that have long been a cause for concern. These inefficiencies are particularly pronounced in the international "invoice trickle-down" chain, where businesses at all levels grapple with a convoluted system of payments and fees.
One of the primary inefficiencies lies in the high transaction volumes that telecom carriers handle. These carriers work with global partners, and the sheer volume of transactions often leads to delays in remittance. This delay can cause a ripple effect, disrupting the smooth flow of operations and leading to financial losses.
Another significant issue is the forex crunch in emerging markets. Telecom operators often have to deal with the volatility of local currencies against the USD. This volatility can lead to unpredictability in costs and revenues, making financial planning and management a challenging task.
Lastly, the industry operates on low margins. The high operational costs, coupled with high cross-border transaction fees can often leave businesses with minimal profits, stifle growth and innovation in the industry.
As highlighted above, the telecom industry currently struggles with transaction throughput issues, remittance delays, forex crunches, etc. However, with the rapid emergence of blockchain technology over the last few years, several solutions have emerged to resolve these bottlenecks. Zeebu is one such offering, presenting users with a blockchain-based settlement platform and loyalty tokens, thereby bolstering the profitability of the legacy telecom carrier industry.
The loyalty tokens provide rewards to merchants and customers for successful transactions, reducing the cost of transactions, ensuring faster settlements, and improving margins. The token is currently live on the Ethereum mainnet with the complete product set to be unveiled at ITW, one of the largest Telecom industry conferences. In a recent interview, Zeebu's founder and CEO, Raj Brahmbhatt, noted:
"I am excited to work on a project that aims to solve significant inefficiencies in the telecom carrier industry by using the token's loyalty rewards program in order to improve margin retention and operational inefficiencies. This will disrupt the instant settlements by enabling anytime, anywhere transactions."
Zeebu's solution is tailor-made for telecom carriers, aiming to solve real-world problems plaguing operators and users worldwide — via the use of loyalty tokens and blockchain tech.
The token, in particular, can be utilized across other B2B industries as well, demonstrating the project's versatility. Moreover, it bears mentioning that Zeebu is currently accepting merchant onboarding requests through their waitlist, catering exclusively to players in the telecom carrier industry.
During a recent interview, Keshav Pandya, Co-founder and COO of Zeebu, emphasized the potential impact of blockchain solutions within this yet untapped market, stating, "Zeebu's blockchain-based settlement platform and loyalty tokens are designed to bolster the profitability of the legacy telecom carrier industry, which comprises over 6000 players in a $120+ billion market."
Looking ahead, Zeebu plans on extending its extensive solution set to other B2B industries facing similar challenges, especially those of international remittance and lean margins. With their first-of-its-kind loyalty token, the project can revamp the global telecom carrier market, transforming cross-border transactions and improving profitability in the industry.
Therefore, as the use of decentralized technologies continues to grow across various domains on a global scale, it will be interesting to see how blockchain's role in telecom evolves from here on out.
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