Stellar Partners with YOVO, Introduces Blockchain-based Mobile Network
Stellar recently shared a tweet which points towards its brand new partnership with YOVO, which has recently moved to Malta, the future crypto-capital of Europe.
Another first for Stellar…https://t.co/uBYTkhHy6J
— Stellar Lumens (@StellarLumens) June 12, 2018
YOVO is going to be the first ever blockchain based mobile network. Through this partnership with Stellar, YOVO is creating an entirely crypto-dependant mobile network which will be fully supported and fully funded through cryptocurrencies. Namely, the YO tokens will be used, which will be a part of the stellar network.
After the launch, the YO tokens will be available in over 130 countries and can be purchased and used over 500 partner mobile networks.
YO tokens can not only be purchased but also be earned. As a part of the incentivization programme, users will be able to earn YO tokens by completing some 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, which could further be used by the users for paying their monthly phone bills or anything similar.
The CEO of YOVO, Richard Skaife said,
“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.”
This concept of a blockchain based mobile network is a really an exciting one. Just for an example, it’s pretty simple to see how blockchain based phone networks and bill payment systems could be useful for international calling. Also, this will improve the security when it comes to texts messages and phone tapping.
Stellar is a renowned brand with a real working product. This integration will obviously benefit YOVO but considering how innovative YOVO’s idea is, this will surely benefit stellar as well. YOVO are about to become the first cryptocurrency brand to be integrated into a real working mobile phone network. This will surely speak volumes in future when we speak of cryptocurrency adoption.
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