ElyNet claims to be the world’s first global blockchain telecom company in a report by Cointelegraph. ElyNet is the 4th largest Telecom service provider in South Korea.
NY Union Mobile, which worked to become the fourth mobile carrier in Korea, has officially announced the launch of their blockchain project ‘ELYNET’. The project is designed to provide differentiated mobile services using blockchain technology while leaving behind regulatory hurdles for approval as a mobile network operator.
As a decentralized telecom project, ELYNET uses blockchain technology to make communication more efficient for users who currently rely on a single carrier for telecom service. Through ELYNET, users can freely use data communication services without the drawbacks of existing wireless carriers such as roaming fees and contracts. The ELYNET project effectively eliminates the need for expensive data centers for wireless communications, allowing users to enjoy superior telecom quality at dramatically lower costs.
What is ELYNET?
Touted to be the Mobile Blockchain Revolution, it provides full telecom services, powered by blockchain technology. The promise by the company is cheaper data with no roaming fees, no data expiry and no hassles. Further down is a diagram showing how it works.
Eliminate Single Carrier Dependency
The system promises a seamless switch between your domestic operator and the ElyNet network through the ElyNet OS on any Android device . Avoid expensive domestic operator fees, like data overage charges, by switching to the more affordable ElyNet network. Get service coverage in areas or countries your domestic provider doesn’t offer.
Eliminate Roaming Inconveniences
Before traveling, switch to the ElyNet network to use your purchased data and avoid expensive roaming charges. Their data carriers over, country to country, at no extra fee. No need for foreign SIM cards, E-SIMs or Wi-Fi eggs. The OS is right on your phone.
Their “hand-off” technology ensures seamless connection, even when switching between Wi-Fi and LTE. P2P international calling with ElyNet is practically free, and the best part is, your home cell phone number never changes. Your purchased data never expires, so you won’t have to worry about needlessly topping up every month.
Purchased data can be shared between users. You can even gift your gigabytes to friends, family or employees. Users have the ability to resell any unused data as well.
Efficiency & Affordability
- Instant P2P connection
- Distributed authentication
- Freedom of network choice
- Maximized network efficiency
- Lowest possible price
- Advanced consensus algorithm
- Fast, highly scalable
- Simplified telecom authentication process, resulting in quicker connection and breakage possibility elimination
Reliability & Transparency
- Encrypted and distributed data storage
- Protection of users’ private data
- Users control their personal big data
- No compromise on call quality
- No data threshold surpassing speed reductions
CRUDE is a Blockchain-based mobile OS by ELYNET. CRUDE works as a personal Identification card managing personal information and purchases.
The team is led by Se Yong Ro, CEO & Co-Founder, Kevin Q Won, CFO & Co-Founder and Hee Seung Lee, COO & Co-Founder. They are supposed by Cha Ryong Koo, CMO, Executive Director.