The emerging “Peer-to-Business (P2B) model is quickly becoming a prominent trend, especially for online-based businesses. The P2B approach is being explored extensively by startups and existing businesses.

The Internet Era

The concept of a sharing economy has been in existence for years. Rents, leases, borrowing are all forms of a sharing economy. The recent surge in awareness of this way of doing business is largely due to the dimension that has been introduced by applying the internet.

Application of the internet and modern technology has increased the efficiency of the sharing economy. Today, it is easier for individuals and businesses across the globe to find each other and carry out transactions without having to be in the same geographical location.

Away With the Old, in With the New

The SMSCHAIN model offers a blockchain-based application that connects anyone willing to sell their unused SMS with aggregators. It provides A2P (application to person) SMS delivery services to businesses on a global decentralized platform, and serves to reduce operational costs for aggregators. It also converts redundant resources into revenue for individuals among other benefits.

This model is possible through the creation of a reliable interconnection framework between Telecom companies which would like to deliver A2P SMS and users who would like to exchange their unused SMS for a financial reward.

Blockchain and Big Data

Implementing Blockchain technology and Big Data analytics goes even further to improve the efficiency of these services.

Blockchain offers a transparent, secure and immutable platform where the authenticity of transactions can be easily traced and verified.

Unlike traditional systems, big data analytics can, in a short time, analyse bulky transactions. For instance, imagine a scenario where multiple aggregators have to send SMS across the globe, while managing the numerous subscribers who would be eligible for specific compensations. These transactions can only be effectively managed by applying big data analytics. Ultimately, we can say that a combination of these two disruptive technologies is leading to a new narrative that is redefining service delivery processes, including telecommunications.

BLOCKCHAIN INFRASTRUCTURE

Existing public blockchains, such as Ethereum and Bitcoin will not be able to serve the purposes of SMSCHAIN in terms of throughput. These traditional blockchains are too expensive for this service in terms of commission for transactions because it is comparable to the cost of sending SMS. Hence the implementation of the sidechain model with high transactions throughput, whose stability and security will be ensured by the periodic anchoring to a public blockchain, most likely the Bitcoin.

This implementation is expected to drive the internal aspects of settlements and accountability on the SMSCHAIN platform.

SMSCHAIN will serve as a platform to interconnect users who would like to make money online with companies which are sending A2P SMS messages worldwide and pay for the delivery of such messages. The internal token for transactions on this blockchain is the SMSTO token which will be needed for app users to be able to link SIM cards to the app and for Nodes to buy licenses. SMSTO Tokens will also be used by SMS Aggregators as the currency of payment for SMS traffic.