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iQSTEL Announces the Completion by itsBchain of Its Blockchain-based Payment Solution Software Blueprint for Telefonica, Deutsche Telecom and Other Tier 1 Carrier Interconnects

iQSTEL Inc. announced the software blueprint for its blockchain-based Voice, SMS, and Data Wholesale Carrier Settlement and Payment Platform is complete.

Blockchain technology is turning the payment processing world upside down. Rapid processing with fraud mitigation all in one forensic friendly system. It will drive the Telecom market out of the dark ages and into the 21st century.

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Mr. Iglesias, the Company’s CEO, stated: “We are very pleased with the speed at which this software blueprint has been completed by itsBchain. Final assembly of the payment solutions platform has begun with the anticipation of an early Q3 delivery for beta testing. We already anticipate beta testing to begin with some of our biggest carrier clients such as Telefonica (Spain and Latin America), Millicom (Tigo brand for Latin America), Telecom Italia and Deutsche Telecom.”

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“The demand for an efficient Tier-1 payment system is felt across the telecom industry as a whole. Currently, receivables time frames are 35-40 days. Our vision in itsBchain is to be the first blockchain solution for this market, dramatically reducing the receivables time frame to as little as a day. In addition, our blockchain-based solution will virtually eliminate fraud, currently an uncontrolled detriment to corporate bottom lines in the Telecom market.  Today, the carrier interconnection market is worth hundreds of billions of dollars per year and our system will bring transparency, efficiency and increased profits to the carriers. This is one of the biggest opportunities currently in the telco industry worldwide,” concluded Mr. Iglesias, the Company’s CEO.

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