Another first for Stellar…https://t.co/uBYTkhHy6J
— Stellar Lumens (@StellarLumens) June 12, 2018
This week, Stellar have shared a tweet which points towards a new partnership and a brand-new integration on the Stellar network. This follows recent news that the first ever blockchain based mobile network, YOVO, had made a move to Malta, a country that is fast becoming the crypto-capital of Europe.
Through an integration with Stellar, YOVO are creating an entirely crypto-dependant mobile network which will be fully supported and fully funded through cryptocurrencies, namely the YO token which is to be a part of the Stellar network.
As it stands, through Stellar, YO tokens can be purchased and used on over 500 partner mobile networks and will be available in over 130 countries from launch. Moreover, YO tokens make up a part of an incentivisation programme, which will see YO tokens earned by users for completing tasks within their mobile network, this may include things like; downloading and testing apps, downloading and testing DApps, completing tasks, shopping, making calls, receiving calls and even signing up to cryptocurrency exchanges. Through these tasks, YO tokens can be earned, in return, these can be spent as a part of your month phone bill (for example).
According to CryptoCoinSpy, Richard Skaife, the CEO of YOVO has recently commented on the companies’ new moves, including their migration over to Malta, stating:
“The world’s most innovative mobile network is proud to call Malta, the global leader in blockchain, its home. We shall serve millions of digital money customers with mobile service from our Malta HQ and be an active part of the broader blockchain community that’s growing daily on blockchain island. We are particularly grateful for the support of the Maltese Government through Junior Minister for Financial Services, Digital Economy and Innovation Silvio Schembri as we launch YOVO.”
You can see the full report for yourself, here-
This is a pretty exciting concept and obviously has implications for mainstream phone networks worldwide. Even without giving it too much thought, it’s pretty simple to see how blockchain based phone networks and bill payment systems could be useful for international calling for example. Moreover, a blockchain network could also improve security, in reference to texts messages and ‘phone tapping’.
The integration of Stellar will also benefit YOVO. Stellar are a renowned brand with a real working product, with this in mind we should also consider how YOVO’s innovative idea will also benefit stellar, who are about to become the first cryptocurrency brand to be integrated into a real working mobile phone network. This could really do great things for the future of cryptocurrency adoption. Let’s remember that.