BoTCoin GLF Communications Blockchain Network

Internet Mobile Communications Ltd announced as technology partner in the delivery of GLF’s Communications Blockchain Network

Global Leader’s Forum (GLF) soon-to-be-launched blockchain-based platform, is set to revolutionise the ICT Service Provider industry’s commercial settlement infrastructure.

UK-BASED INTERNET MOBILE COMMUNICATIONS Ltd (IMC) is delighted to have been selected as a technology partner in the Global Leaders Forum’s (GLF) development of the Communications Blockchain Network (CBN), planned to be launched in the coming months.

The objective of the platform is to serve the wider Internet Communications and Technology (ICT) industry by avoiding fragmentation and by doing so, help accelerate the adoption of automated settlement applications.

Mark Stewart, IMC CEO said, “We’re overjoyed with being recognised as a blockchain-based international settlements company and IMC look forward to collaborating with the GLF in the development of the CBN. It’s a natural fit for IMC in October 2018, we launched the world’s first regulated, blockchain-based international settlement service – BoTCoin Market. The ‘BoT’ stands for IMC’s Bank of Telecom® sub brand and the service complements the GLF objective to achieve an ecosystem of blockchain-based solutions to better serve the needs of the ICT industry, specifically from operational, security and financial perspectives.”

Several of the industry’s leading carriers have already agreed to support the establishment of the platform.

BoTCoin® Market is developed and owned by Internet Mobile Communications Malta Ltd (IMCM), IMC’s wholly owned subsidiary, ran out of Malta. The Maltese Financial Services Authority (MFSA) and long-standing partner of IMC, Western Union Business Solutions, were keen to work with IMCM on its delivery. BoTCoin Market essentially removes Banks from the equation when international businesses need to settle, which they can now do instantly at a fraction of the cost of using Banks to make payments between accounts.

IMC remain committed to delivering products and services to benefit the ICT industry. Mark believes that the development of the CBN is the natural next step in facilitating changing telecoms for good, something that is very close to the heart of IMC. “Our blockchain token, BoTCoin®, is pegged against the US$, the international currency for telcos. It only costs 10 BoTCoins, equivalent to US$10, to settle between industry peers and takes seconds to settle, immediately removing cash flow issues. We also reward loyalty with a joining, monthly and referral bonusses so account holders can also earn BoTCoins too. There are no cut-offs, weekends or Bank holidays in BoTCoin Market, so members can settle with each other whenever they like.”

The GLF and its technology committee expect the delivery of the CBN to be within a few months and they have been working on the concept for nearly two years. As that process now moves into the final stages pf product delivery, every ICT Service Provider, including carriers and cloud providers for all forms of ICT traffic, is literally on the brink of realising the significant security, financial and operational benefits of DLT-based automation and IMC feel extremely privileged to be part of the technology ecosystem that will deliver the Communications Blockchain Network.