Encrypto Telecom will be the first ever cloud secured, private branch exchange(PBX) -- an internal telephone exchange VoIP system based on blockchain technology. The project plans to deliver its new solutions for telecommunications that address privacy and civil liberties. Funds that were raised in the recently successful ICO, which just hit $3m USD, will allow EncryptoTel to use encrypted communication and a cloud-based PBX to ensure privacy in offering a range of services for its customers.
So Insecure, so vulnerable
On a daily basis, our personal data is being monitored constantly. It is collected by a range of organizations or individuals. ranging from state agencies, compiling data for the purposes of ensuring national security, to business corporations, wishing to learn more about customer's habits.
There is now a wide variety of applications for communication through instant messaging, voice and video calls. Some of them are placing privacy and security at the core, however, there are still a lot of applications that are relatively insecure. Even if the content of the call is not intercepted, it is still possible to collect metadata and other details posing a risk to the security and privacy of those making a call.
Privacy of Communication
EncryptoTel has developed a platform that enables its clients to communicate securely and privately through existing applications such as X-Lite, Zoiper, etc.
EncryptoTel suggests integration of a virtual private branch exchange (PBX), which will be rolled out for business easily and quite fast. Though I can't really see the timeline for this integration, the whitepaper does confirm it will be "fast". It will enable businesses to deploy a secure VoIP telephone network, which then can be connected to the external phone system.
Many offices to date are currently using solutions like PBX or IP-PBX. EncryptoTel aims to develop this model further, significantly improving privacy for its clients while making it more cost-effective.
"EncryptoTel is more than just another PBX system. Besides offering a range of services for businesses, we are also aiming to extend these services to individual customers, who wish to communicate not caring too much about the privacy of their personal data." -- Roman Nekrasov, CEO
How does It Work?
EncryptoTel uses the most innovative digital technology solutions, including encryption through open algorithms and Blockchain protocols. The company has developed services for the most basic user, businesses, and marketing agencies.
PBX will allow users to receive incoming calls to any number, including mobile phones and landlines. It is possible to carry a fully automated distribution service of calls with the help of specially created scenarios.
Crowdsale Results Promising
The crowdsale has come to an end with slightly over $3 million USD. 20 days sooner than expected.
The funds that have been raised will now enable the team to make key decisions. The team is looking to hire more developers and to decide on which country to register in. There is also enough funding to begin developing an investor dashboard.
The funding will allow EncryptoTel to go beyond creating a fully functional PBX/Blockchain that has reliable encryption and an up-to-date user interface, and release a mobile application for iOS and Android for safe communication within PBX/Blockchain.
By the summer of 2017, the company plans to open an office and commence the encryption of packet switching by means of video-voice packet switching servers with the support of SRTP+TLS. The final release is planned for next summer.
The telecom market is one of the fastest growing sectors of the economy. Internet-based technologies offer cost and convenience benefits over older and more out of date approaches, evidenced by Facebook Messenger, Skype, Twitch and other platforms.
Global demand for VoIP services is expected to grow at a combined annual growth rate of more than 9.1% between 2016 and 2021.