DENT Wiki ▷ What can the coin do? crypto currency & more!
In our Dent Coin Review you will learn how the Dent crypto project is shaking up the mobile data market, how the coin works and how likely it is that the coin will be successful with its innovative project. As always, we at BC1 advise you to exercise caution when investing in a crypto currency and encourage you to do your own research.
What is the dent coin?
Dent Coins' goal is to completely disrupt the market for mobile data by reducing costs and improving accessibility. There is no doubt that most of us are dependent on mobile data to run our daily lives. In fact, most of us consider mobile data access so important that many consider it a basic need.
Even in less developed countries, however, mobile data use is extraordinarily expensive. In developing countries, high mobile data costs make this indispensable service too expensive. This exclusion is the main reason why less than half the world's population uses mobile data.
How does the Dent cryptocurrency project intend to achieve this innovative goal? There are three aspects of the mobile business on which the project focuses:
- Decentralized "data market": The DentKrypto project creates a marketplace for mobile users where they can buy, sell or donate their decentralised mobile data. Anyone can use this exchange and it is open to any country in the world.
- Central contact point for the purchase of mobile data: Dent enables users to purchase mobile data packages in a fully automated process. The beauty of the platform is that users always get the best price and the best operators for their location. Mobile operators can also connect to the platform to serve their customers around the world.
- International roaming charges are minimized: There's nothing more frustrating than going on holiday and returning home with a massive mobile data bill - costs are exceptionally high due to the centralized system of the telephone companies.
How does the use of mobile internet work abroad?
To understand how the Dent platform works, we need to explain how international data roaming actually works and how the project aims to reduce costs.
Let us assume you are a British citizen travelling to Australia. You land and want to check your e-mail. A chain of events is triggered in the background to open your inbox.
- Your phone is connected to a local Australian telephone network, known as the "visited network".
- The visited operator then sends your Internet traffic to your home telephone network via international data transmission services.
- Your home network in the UK will then connect you to the Internet and forward the data to your mobile device in Australia.
You will then be able to check your e-mails in Australia.
You can now see how inefficient the international roaming process is. Four different data connections are required for a mobile user to access the Internet while abroad. Dent simplifies the process and offers the foreign operator the possibility to connect you directly to the Internet. This means that international transit services and the process of connecting to your home network can be bypassed.
This is not only more efficient, but also reduces the cost of international roaming charges.
What does the mobile data market currently look like?
The market for mobile data is huge, with a study by ParksAssociates concluding that mobile operators' revenues are a whopping $386 billion a year. CISCO has also conducted a study on the growth of mobile data and found that global data usage is growing at an astonishing63% per year.
The most common way to buy a mobile phone contract is to pay a fixed amount per month for a certain period of time. The contract sets a certain data limit each month, and unused data from one month will not be carried over to the next. As a result, most people buy too much data to not run out in a given month.
The amount of unused mobile data in the world is probably well over 10%. However, even a 10% value leads to a loss of customer value of $3.86 billion per year. That is a lot of money and a lot of inefficiency.
The Dent crypto-currency project creates a block-chain-based marketplace for mobile users to sell this unused data, and other users or even telecommunications companies can turn to Dent to buy this free data capacity. This marketplace actually leads to the commercialisation of mobile data and the marketplace setting global spot prices for mobile data.
It should be noted that some mobile operators have introduced a data rollover whereby unused data from one month can be used the following month. However, this is unusual and certainly an exception.
How is Dent Coin starting a mobile data revolution?
The Dent Crypto Project unites mobile users with a purchasing power of billions of dollars. This means that the Dent Community has a significant influence on the telecommunications companies.
The average value of a mobile phone customer is €460. No company wants to lose hundreds of thousands of such customers.
The key to the Dent cryptocurrency project is its collective bargaining power and the creation of a large community. Rationally, the telecoms companies should be open to listening to this collective bargaining power. After all, tens or hundreds of millions of dollars of revenue are at stake.
How does the Dent Coinalso want to grow? User acquisition is crucial and the team has reserved a considerable number of coins for use in a "Refer a Friend" programme. An extremely important element is working with mobile operators to enable peer-to-peer data transmissions and offer mobile packages.
The next step is the creation of a kind of mobile operator alliance that enables the transfer of mobile data packets across different networks. It should also be noted that mobile operators will be able to buy data for their customers on the Dent platform and thus serve their customers.
The Dent cryptocurrency project is also about charity and politics. The platform is intended to offer mobile users the opportunity to donate their free mobile data. The project launches the "Gigabyte for Africa" initiative. The idea is simple: Unused mobile data can be given directly to those who cannot afford mobile access.
It is hoped that improved access to the Internet for rural African communities will promote development in these areas. At present, these communities are excluded from both global development and knowledge. Mobile internet access is only one component that should enable these communities to build a better life.
Such data donation only makes sense, of course, if there are suitable mobile phone providers in the developing countries. This is why Dent is working with mobile operators to cover rural African communities. It is hoped that Gigabytes for Africa can provide the much-needed infrastructure to promote inclusive development and entrepreneurship in these areas.
At the political level, mobile data use is a global issue. Companies are global and people travel around the world on holiday. The project recognises this and sees lobbying as an important way to promote a real liberalisation of the global mobile data markets: organisations such as the EU have managed to liberalise data usage for EU citizens by abolishing roaming charges within the EU. The Dent Krypto project aims to do a similar thing for the citizens of the world and to fight for mobile data rights.
How is the Dent Coin used?
The Dent platform is a mobile data marketplace that uses the Ethereum Blockchain. Trades on the platform are handled by Ethereum Smart Contracts and Dent Coins are used as "fuel" for the platform.
Dent Coins are used in different ways:
- Purchase and sale of mobile data on Dent's global marketplace.
- The acceptance of the platform is promoted. Users can refer their friends to the platform and earn Dent Coins for them.
- The coin can be bought and sold on crypto currency exchanges.
Dent is used to encourage telecommunications companies to participate in the platform.
The team consists of five full-time members and three consultants. It's a pretty lean team. Together, however, they have a wealth of experience in entrepreneurship, Ethereum SmartContracts, payment systems and apps.
In this Dent CoinReview, however, we concentrate only on the founders of the project.
Tero Katajainen - CEO & founder
Tero is a Finnish-born entrepreneur who has co-founded several online start-ups in the last twenty years. He also has amazing knowledge of Forex trading systems and was one of the pioneers who first integrated mobile payment systems with apps. Tero has a deep understanding of Blockchain and he is the brain behind the development of the DentKrypto project.
Mikko Linnamäki - Co-Founder
Mikko has been founding online companies since 1994. During his entrepreneurial career, he co-founded Dovecot Oy, which supplied the world's most widely used IMAP server. 72% market share and over four million installations are certainly not to be overlooked.
Andreas Vollmer - Co-Founder
With 12 years of development experience Andreas co-founded TDSoftware and developed apps for Mercedes-Benz, Audi and many other companies.
Andreas brings a wealth of experience in the field of mobile customer relationship management systems. He likes to use this data to optimize apps and check user behavior to make sure everything works optimally.
The future of the Dent crypto currency
There are many reasons to be enthusiastic about the Dent crypto project. The team has successfully established that there is no market for mobile data on an extended basis. There are major inefficiencies in cross-border mobile data transmission, and the phone companies fail to conclude operator agreements with each other. The result is expensive international roaming charges. The Dent project has already made a promising start and offers data deals with around 20 different operators in its app.
In principle, Dent Coin is a good idea. But the whole project depends on bringing more telecommunications companies on board. This crypto project is about whether enough mobile operators are involved and agree to make the mobile market more efficient. Otherwise the project will probably fail.
Unfortunately, there are many places that are dominated by a single operator, so they may not have the same incentive to work with Dent.
However, the project has already partnered with data consolidation companies such as U2opia, who already work with many different mobile operators, and these partnerships can help Dent get in touch with the operators.
On the consumer side, low-income mobile users from developed countries are the main market of this project. Globalisation has led to a high level of cross-border economic migration from developing countries to more economically developed countries. However, these job opportunities are characterised by low income. There is no doubt that Dent would be popular with this customer base.
Would you like to try the Dent App for yourself?
Dent has already released its mobile app for Android and iOS and you can still buy mobile data packages today.
Mobile operators who already work with Dent and provide data:
- Maroc Telecom
- Claro & more
You can find out which countries are supported here.
The Dent Coin ICO
TheDent ICO took place on 26 July 2017 and raised 4.3 million dollars. 100 billion dent coins were created and 70% of these were sold at the ICO. What about the remaining 30%? The team set it aside to pay for incentives from telecom companies to attract new users to the platform and pay salaries. One billion tokens are also earmarked for the UN's Sustainable Development Goals programme.
Should I invest in Dent Coin?
- The project aims to develop a market worth 386 billion dollars per year.
- There are currently no established second-hand data marketplaces.
- There are enormous inefficiencies in the international roaming markets & Dent offers a solution to remedy them.
- Cheaper mobile data will be popular with consumers.
- Dent already has a functioning product and works with around 20 telecommunications operators.
- The mobile data market is growing rapidly.
- If successful, Dent could become a decentralized unit that holds mobile operators together. It could serve not only everyday life, but also mobile operators, who could buy data on the platform themselves. This would lead to the project being implemented on a truly astonishing scale.
- Charitable initiatives like "Gigabyte for Africa" can make the world a better place.
- The project is at the mercy of the mobile operators.
- The platform is not yet widespread and is not yet used much.
- There are other crypto-competitors like Telcoin.
Mobile operator support is currently only available in 14 countries.
How can I buy the Dent crypto currency?
You can buy Dent Coins directly via the Dent App using PayPal or credit card. One disadvantage is that you cannot send Dent Coins to an exchange. Dent Coins purchased via the app are only intended for the purchase and sale of mobile data. If you only want to invest in the Dent crypto project, you must use a crypto currency exchange.
We think that Dent Coins have immense potential. Dent is trying to open up a huge market without dominant players. Although the team is small, they are very experienced in their skills. Unlike many other crypto projects, Dent already has a working product and partnerships with some very large mobile operators. Of course we would like to see more country coverage and more mobile operators. However, we must not forget that such partnerships take time and the project has already reached many in a short time.
The Bitcoin-News.one team is a great supporter of the "Gigabytes for Africa" initiative. We firmly believe that Internet access promotes both economic growth and education.
This offers the opportunity to liberalise the mobile data market and organise the collective purchasing power of mobile data users around the world. The potential is certainly there. The only question is whether or not the mobile communications companies want to support this revolution.