Disrupting the Cell Phone Marketplace with Transparency & Cryptocurrency

A new emerging company is looking to change the way you might purchase your next phone. Tired of getting roped into long contracts to pay off the price of your phone over time? Whether it be new or pre-owned phones, TessaB is aiming to to provide users the real value of their mobile devices all backed by their new mobile blockchain network. Under the TessaB blockchain, users can track their devices and see the history of ownership and price. Between their blockchain and the TessaB mobile app, this startup is a institutional blockchain investment that mobile users can really get behind. Read more about their mission from their executive summary below:


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, user experiences, 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 customer friendly cryptocurrency that delivers on all of the conveniences expected in a modern medium of exchange.

– TessaB Whitepaper

If you are starting to feel like the only way to get the best new phone is by signing up for a lengthy plan through your provider, think again! TessaB might have a solution for you that’s just around the corner.

Blockchain in the Real Estate Rental Market

This week marked a new development for the real estate rental ecosystem as The Kahuna Group announced their new blockchain-driven real estate rental project called the Kahuna Platform. Read more about it here in their press release.

Announcing the Kahuna Platform, Optimizing Tenant and Landlord Relationships With Ethereum

Kahuna Platform aims to create secure, sovereign and portable rental profiles for tenants, and streamline the onboarding and payment process for landlords

NEW YORK, NY — MAY 12, 2019 — Real estate developers, The Kahuna Group, announced its new project, the Kahuna Platform, which aims to change the way everyone within the real estate rental ecosystem leases, rents, and earns using blockchain technology. The Ethereum-based solution Kahuna develops will give tenants a fully portable, secure, and verifiable rental profile called the Kahuna Score, reflective of their rental history and informed by actions and data not available to most credit agencies, such as rental payments. This Score, along with other facets of the platform, seeks to streamline the search, onboarding, and tenancy stages for both landlords and tenants around the globe.

“ Inefficiencies in the real estate rental industry (RERI) are pretty glaring to even casual observers,” says Kahuna Group partner Steven Whitworth. “Blockchain based technology offers a great foundation to address these challenges and we believe the Kahuna platform is an ideal structure to build on that foundation..”

With the development of their digital platform, Kahuna introduces Behavioral Mining©, a major contributing data source to a tenant’s Kahuna Score, affected by recurring activities such as rent-payment timeliness. Tenants earn digital assets called Kahuna Tokens (KNA)  in exchange for reaching binary milestones offered by the platform. User-generated profile data aggregated by users and Kahuna will be stored on the public Ethereum blockchain within Kahuna’s private network. Kahuna’s goal is to make the Kahuna Platform the first and most robust blockchain-based platform to aggregate immutable data from the RERI for the benefit of both landlord and tenant.

This announcement at Consensus NYC 2019 marks a significant milestone for The Kahuna Group, as well as for the blockchain community and real estate industries. The project overview site is live and available for review, along with their whitepaper and other project-related documents, including documents related to their open security token offering.

ABOUT THE KAHUNA PLATFORM

The Kahuna Platform is a project of The Kahuna Group, a leading real estate developer whose team boasts over a century of experience in real estate and logistics. Together with Bunker Capital, The Kahuna Group is developing The Kahuna Platform to enable tenants to build and aggregate their rental history, regardless of their country of residence, and give landlords robust information by which to determine tenant suitability coupled with a streamlined payment system.


ABOUT BUNKER CAPITAL

Bunker Capital is the premier blockchain consulting and advisory firm that powers the growth of game-changing tokenized businesses and decentralized platform innovation. From token economics, project marketing, smart contract development and more, Bunker Capital partners with clients from end-to-end to build intelligent solutions with global impact.


Media Contact: Michael Wong @ Bunker Capital, mwong@bunkercapital.com

Company Contact: Steven Whitworth @ The Kahuna Group, swhitworth@kahuna-group.com

The international benefits of cryptocurrency

In an age where efficiency and trust are paramount in doing business, cryptocurrency has been regarded favourably by world leaders who see the beneficial role it will play in the future of international trade.

There are several advantages of using cryptocurrency given that traditional transactions are facilitated through centralized intermediaries like banks, governments, and commerce platforms. Due to their centralized nature, these middle men are the targets of hacks, which has taken place with growing frequency and concern as of late. Traditional banking involves lengthy processing times, high bank fees, and unfavourable exchange rates; it is also inaccessible to a large portion of the world’s global population.

Institutions are embracing change
The rise in safer coin investments and institutionally backed cryptocurrencies has lead to widespread adoption and investor confidence in the blockchain future.

In November 2018 at the Singapore Fintech Festival, Christine Lagarde, Managing Director of the International Monetary Fund, spoke about the potential benefits of cryptocurrencies. In raising the case for central banks to issue a “state-backed token, or perhaps an account held directly at the central bank”, Lagarde mentioned that “various central banks around the world are seriously considering these ideas, including Canada, China, Sweden, and Uruguay. They are embracing change and new thinking—as indeed is the IMF.”

Cryptocurrency reduces the cost of doing business
Cryptocurrency reduces the traditional hassle of dealing with fraud risk, fees, and time when it comes to doing international business. It offers a quicker and less expensive way of mitigating risk and processing transactions globally.

Avoid risking losses due to foreign currency conversion
Foreign currency conversion involves incurring transaction fees. Furthermore, processing time for cross currency payments typically take a number of days, during which foreign exchanges rates fluctuate and can cause losses to either party.

While businesses typically use FX hedging products to protect against potential losses, buyers and sellers can avoid risking losses due to foreign exchange fluctuations if they agree to transact using the same cryptocurrency. The speed of the cryptocurrency settlement significantly reduces the effect of adverse exchange rate changes on buyers and sellers.

Furthermore, businesses can proactively manage their cryptocurrency accounts by converting when rates are favourable and holding funds for later use.

Image: Investopedia

Digital trust and authentication incentivizes trade
Cryptocurrency offers a digital way of validating transactions, allowing for greater consumer protection and confidence in trade. Lowered uncertainty allows for individuals to purchase and sell goods & services with greater ease of mind. In regards to consumer protection, Lagarde mentioned that a “digital currency could offer […] a backup means of payment”, potentially reducing system reliance on payment providers.

With increasingly heightened adoption, consumers are preferring digital means of payment for security, ease of mind, and convenience. Entrepreneurs and organizations are beginning to view accepting payment in the form of cryptocurrency as a way to appeal to their customers and gain a competitive advantage.