Mobile Phone Buyback on the Blockchain
In response to global rises in cellphone ownership length, a leader in the secondary phone market has launched a crypto-friendly solution to mobile phone trade in. The TessaB Ecosystem will change the way users can appraise, sell, and purchase new and pre-owned phones without users ever setting foot in a retail store. By building the platform with a blockchain backbone, TessaB will be blazing new trails in crypto wallets, device protection, and mobile cryptocurrency investment at large.
Here’s an excerpt from their whitepaper:
The smartphone industry has continued to evolve throughout its relatively short lifespan to meet the needs of an ever more demanding customer base. This has driven improvements in hardware, sensor suites, userexperiences, and integrations with the world we live in. To match these desires, the industry has turned to shorter release cycles, price increases, and introduced new payment and protection systems designed to lock a consumer into a predefined upgrade cycle, removing flexibility and optionality. This industry model, instead of driving more consumer adoption, has had the opposite effect. Consumers now own their devices for longer than ever and increasingly turn to preowned devices as a solution to price increases, driving increased costs to industry stakeholders. IGWT, backed by PCS Wireless, a leading company in the secondary mobile device market, is building a better device ownership experience and is providing the resources to develop the infrastructure surrounding a customer friendly ecosystem for the new and pre-owned smartphone marketplace, bypassing the traditional business models currently deployed within the industry. The TessaB Ecosystem will leverage the ubiquity of the smartphone to not only deliver convenience but savings and accountability throughout the smartphone ownership experience. TessaB is developing a new asset-backed model to leverage the current and future value of a consumer’s mobile device. Anchoring the TessaB Ecosystem will be a trusted distributed ledger tracking the status and condition of participating smartphones throughout their lifecycle. Users will no longer remain in the dark about the true value of their smartphone, how this value changes over time, what it costs to insure, and more. Through the utilization of the smartphone as the primary touchpoint, IGWT looks to deliver an accessible onramp to the first mobile-centric ecosystem of commerce around mobile devices and related services powered by the TessaB Digital Asset (“TSB”), the first customerfriendly cryptocurrency that delivers on all of the conveniences expected in a modern medium of exchange.
Read more on mobile blockchain in the TessaB whitepaper