Webtel.mobi – the Global Telephony Company that developed the world’s first fully-operational global digital currency and global CBDC-equivalent – describes why Multinational Telecommunications Companies have Strategic Advantages in this arena
Recently, a great deal of activity has been taking place in the Digital Currency and proposed CBDC space, with multiple entities worldwide discussing possible ways to create a functioning Global Digital Currency and a Retail CBDC.
The array of entities trying to work out how to move ahead in this arena include cryptocurrency companies, social media companies, payments companies, consulting companies, commercial banks, and central banks – some of them working together in groups and alliances.
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To date, they have not been able to create a prototype of an instrument to fulfill either the role of a Global Digital Currency or a retail CBDC – whereas Webtel.mobi (“WM”) has created, tested, had due diligenced and has implemented a fully operational Global Digital Currency and Global Wholesale and Retail CBDC-equivalent.
One of the reasons for this is that none of the entities in these other disparate sectors has the specific type of Multinational infrastructure or experience required to even holistically review – and then plan – the required infrastructure, components and systems. Moreover, the regulatory hurdles faced by entities in these sectors, to achieve their objectives, are almost insurmountable.
However, there is one sector – and one group of companies in one sector – that not only have the in-depth experience, infrastructure, and capacities to achieve these objectives; they already have approximately 50% of the operational infrastructure, processes, and systems in place to do so.
This sector is the Multinational Telecommunications Sector, and the companies with the capacity to succeed in respect of Global Digital Currency and CBDC-equivalent creation are the large Multinational Telephony Companies such as AT&T, Verizon Communications, China Mobile, China Telecom, Nippon Telegraph and Telephone, Deutsche Telekom, T-Mobile US, Telefonica, Orange, Comcast, América Móvil and the Vodafone Group.
They do not currently have the Global coverage of WM, or WM’s other capacities that enable the provision of functioning, practical and operational Global Digital Currencies and CBDC-equivalents. However, they have the experience, infrastructure, and capacity to achieve this in the future – far more rapidly than companies or entities in any other sector.
Some of the reasons for the Multinational Telecommunications Companies having a strategic advantage over all other companies and entities in other sectors are as follow:
With their decades of experience in roaming agreements and Multinational operations – Multinational Telecommunications Companies already have the required experience and expertise in Multinational operations and markets – as functioning businesses able to implement Multinational business models competently and professionally.
Multinational Telecommunications Companies already have in-depth experience of anti-fraud, anti-money laundering and other hard business requirements that function according to the classic requirements of traditional and mature businesses.
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Multinational Telecommunications companies have, in-house, all required communications capacities. This means all the relevant system processes – including all required text message sending for multiple Multi-Factor Authentication and other requirements and verifications – can be done in-house with no external dependencies.
The regulations applicable to the Telecommunications Sector enable Multinational Telecommunications Companies to achieve the required objectives without having to step outside their sector. In fact, they are the only ones that can do this on a global scale. Some of the facilitating factors are as follow:
- Multinational Telecommunications Companies already have the functioning operational facilities for the receipt, and loading into client accounts of, “Stored Credit” / “Stored Value” from prepaid telephony clients – and in various currencies. This is one of the critical components – and it already exists within their systems. All that needs to be done is for a subsidiary to be created that is Members-Only, so the operations of that subsidiary become “Closed-Loop Members-Only” and not public. This enables the limits of amounts of “Stored Credit” / “Stored Value” deposited to be set by the Company – based on its own internal risk-management assessments (combined with documentary requirements for “Stored Credit” / “Stored Value”, anti-money laundering provisions and other similar provisions already operational in their systems)
- Multinational Telecommunications Companies already have the functioning operational facilities for the transfer and receipt of “Stored Credit” / “Stored Value” from one client to another – including from different countries. This is another critical component that already exists in their systems. Again, all that needs to be done is for a Members Only subsidiary to be established to create a Closed-Loop Members-Only system, which again sees the limits of amounts of “Stored Credit” / “Stored Value” transferred and received able to be set by the Company – based on its own internal risk-management assessments (combined with documentary requirements for “Stored Credit” / “Stored Value” transferring, anti-money laundering provisions and other similar provisions already operational in their systems)
- Multinational Telecommunications Companies already carry out internal FX Conversions due to their multinational operations. This can also be provided to Members for use in a Closed-Loop Members-Only subsidiary. This is another already-existing core component.
- All major Multinational Telecommunications Companies are already hybrid combinations of telecommunications and technology and are busy with implementation of Artificial Intelligence components to their systems. Therefore, they have the capacity to develop the required Complex Adaptive Systems that will enable the already-existing core components within their Telephony and Telephony-Support systems to become dual-use facilities, and function in Global Digital Currency / CBDC-equivalent roles.
There are, naturally, many more technological, corporate structuring, legal, regulatory, jurisdictional, security and other requirements that need to be attended to prior to any Multinational Telecommunications Company being able to transition from Multinational to Global regarding service access and delivery, and to achieve the situation of providing globally operational Digital Currency and CBDC-equivalents (or alternatives). To successfully achieve this will take them several years.
However, although there is still a relatively long lead time for them to achieve this, they – just with their existing infrastructure – are so far ahead of other sectors it will take them half the time – or less – to achieve these objectives than it will any other entities in any other sectors. Moreover, the commercial benefits in achieving these objectives are well worth the effort given the volumes and values of the markets that then become accessible.
Webtel.mobi has already achieved these objectives – and the fact it has is proof of the advantages Telecommunications Companies hold in this arena.
Webtel.mobi will remain without any other entity as a competitor in this arena for the foreseeable future, but when other entities do achieve these objectives, it is very likely the first ones to do so will also be companies from within the Multinational Telecommunications sector.
As was written in the Valuation Document in the March/April 2021 Valuation of Webtel.mobi by the Global Consultancy Frost & Sullivan:
“Since the earliest days of the internet age, when the possibility of “borderless” Global business operations became a possibility, Telephony and eCommerce companies have been in a race to try to attain full convergence of their services.
Full Convergence in this sense refers to the situation where a company in one of these sectors reaches a point where their services are able to cross over into the other sector – in a wide-ranging manner – to produce a company with services that cover the full spectrum of Global Communications and Global eCommerce on one platform.
While there have been advances towards this aim in both the Telephony and eCommerce sectors, these have to date primarily succeeded in service expansion within their respective sectors, but without achieving crossover.
It is with this aim in mind that Webtel.mobi has been focussing its activities since its inception, and its Platform 2 product has now achieved the crossover between Telephony and eCommerce on a Global basis.
Consequently, it can be said that it was the Telephony sector that won this race, with Webtel.mobi being the first Telephony company to fully cross over into a fully integrated Global Telephony and eCommerce Platform, which is also convergence of The Internet of Things and Artificial Intelligence.”