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Dent Coin Ultimate Guide: The Mobile Data Marketplace
Most of us are now using our mobile phones to do everything from paying bills, communicating, navigating to researching restaurants and places to go. In our Dent coin review, we’ll tell you how the Dent crypto project is shaking up the mobile data market, how it works and how likely it is to succeed. As always, we do urge caution when investing in any cryptocurrency and encourage you to do your own research.
- 1 What Is Dent Coin?
- 2 How Does Using Mobile Internet Abroad Work?
- 3 What Does The Mobile Data Market Currently Look Like?
- 4 How Is Dent Coin Kickstarting A Mobile Data Revolution?
- 5 Politics & Charity
- 6 How Is Dent Coin Used?
- 7 The Team
- 8 The Future Of Dent Cryptocurrency
- 9 Want To Try The Dent App For Yourself?
- 10 The Dent Coin ICO
- 11 Should I Invest In Dent Coin?
- 12 How Can I Buy Dent Cryptocurrency?
- 13 Final Thoughts
- 14 Resources
What Is Dent Coin?
Dent coin is aiming to liberate the mobile data market. There is little doubt that many of us in developed countries depend on mobile data to run our daily lives and it is essential when we are abroad. In fact, most of us find mobile data access so vital many consider it a basic human need.
Even in developed nations, mobile data bills are exceptionally expensive. In developing nations, high mobile data costs make this essential service too expensive to afford. This price exclusion is the main reason why less than half of the world’s population use mobile data.
Dent coin aims to completely disrupt the mobile data market by lowering costs and increasing accessibility. How does the Dent cryptocurrency project aim to do this? Well, there are three parts of the mobile operator business that the project is focusing on:
- Create a mobile data sharing economy: The Dent crypto project creates a marketplace for mobile users to buy, sell or donate their spare mobile data. Anyone can use this exchange and it’s open to any country in the world.
- The one stop shop to buy mobile data: Dent allows users to buy mobile data bundles in a completely automated process. The beauty of the platform is that users will always get the best price and the best operators for their location. Mobile operators can also connect with the platform to serve their customers throughout the world.
- International Roaming Charges Are Expensive & Annoying: There is nothing more frustrating than going on holiday and coming back home to a massive mobile data bill. The truth is that costs are exceptionally high for a reason and it’s all to do with how telephone companies get the data to you in a foreign country.
How Does Using Mobile Internet Abroad Work?
To fully understand the Dent platform works, we’ll need to explain how international data roaming actually works and how the project actually lowers the costs.
Let’s say you are a UK citizen and travel to Australia. You land and want to check your emails. A chain of events is triggered in the background to open up your inbox.
- Your phone will connect to a local Australian phone network, this is known as the ‘visited network’.
- The visited operator then send your internet traffic to your home phone network through international data transit services.
- Your home network back in the UK then connects you to the internet and relays the data back to your mobile device in Australia.
- You can then view your emails in Australia.
You should now be able to appreciate how inefficient the international roaming process is. Four different data connections are required for a mobile user to access the internet abroad. Dent simplifies the process and provides a way for the foreign operator to connect you directly with the internet. This means that the international transit services and the process of connecting to your home network, can all be bypassed.
Not only is this more efficient, but it also brings down the costs of international roaming charges.
What Does The Mobile Data Market Currently Look Like?
The mobile data market is huge, with a study by Parks Associates concluding that mobile operator revenues stand at a whopping $386 billion per year. CISCO have also done a study into mobile data growth and found that worldwide data usage was growing at a staggering rate of 63% per year.
Now many of you will be familiar with the process of buying a mobile phone. For those that don’t, the most common method is buying a mobile phone contract and paying a fixed amount per month over a certain time period. The contract will specify a certain data limit each month and unused data from one month does not carry over to the next. You must use it or lose it. This results in most people buying too much data to avoid running out in any given month.
The amount of unused mobile data in the world is likely to be well in excess of 10%. However, even a figure of 10% results in a loss in customer value of $3.86 billion per year. That’s a lot of money and a big inefficiency.
With the Dent cryptocurrency project, a blockchain based marketplace is created for mobile users to sell this unused data. Other users or even telecoms companies can go to Dent to buy this spare data capacity. This marketplace actually leads to the commodification of mobile data and leads to the market deciding a global mobile data spot price.
It should be noted that a few mobile operators have introduced data rollover, where unused data from one month can be used the next. However, this is uncommon and is certainly the exception and not the rule.
How Is Dent Coin Kickstarting A Mobile Data Revolution?
The Dent crypto project is uniting mobile users with billions of dollars worth of purchasing power. This means that the Dent community has significant leverage over telecommunications companies. Let’s face it: The average value of a customer is $460 to a mobile operator and no company wants to lose hundreds of thousands of customers worth this much.
The key to the Dent cryptocurrency project’s success is their collective bargaining power and creating a sizable community. A good way to think of Dent is a union of mobile data customers lobbying for more favorable conditions. Rationally, telecoms companies should be open to listening to this collective bargaining power. After all, tens or hundreds of millions of dollars worth of revenues are at stake for them.
So how does Dent coin intend to grow? User acquisition is key and team has dedicated a significant number of coins to be used in their ‘refer a friend’ program. Another exceptionally important element is partnering up with mobile providers to enable peer-to-peer data transfers and offers mobile packages.
The next step is creating a type of mobile operator alliance that allows for the transfer of mobile data packages across different networks. It should also be noted that there is the opportunity for mobile operators to buy data for their customers on the Dent platform and serve their customers with it.
Politics & Charity
The Dent cryptocurrency project is also about charity and politics. The platform intends to offer mobile users the option to donate their spare mobile data. Why would you do this? Well, the project is starting up the ‘Gigabytes for Africa’ initiative. The idea is simple: Unused mobile data can be donated directly to those who cannot afford mobile access.
The hope is that by increasing access to the internet to rural African communities, that this will trigger development in these areas. Right now, these communities are excluded from both global development and knowledge. Mobile internet access is just one component that should give these communities the opportunity to build a better life.
Obviously, mobile data donations are useless unless a mobile operator provides a service to these areas. That’s why Dent is teaming up with mobile operators to provide coverage to rural African communities. The hope is that ‘Gigabytes for Africa’ can provide the much-needed infrastructure to help promote inclusive development and entrepreneurship in these areas. We think that’s a great cause and is certainly worth donating our unused mobile data to.
On the political front, mobile data usage is a global topic. Businesses are global and people travel the world on holiday. The project recognize this and see lobbying as a key way to promote true liberalization of the world’s mobile data markets. Organisations such as the EU have been successful in liberalizing data usage to EU citizens through the removal of roaming fees within the EU. The Dent crypto project aims to do a similar thing for the citizens of the world and fight for the mobile data rights of all.
How Is Dent Coin Used?
The Dent platform is a mobile data marketplace that uses the Ethereum blockchain. Trades on the platform are executed by Ethereum smart contracts and Dent coin is used as the fuel for the platform.
Dent coins are used in a variety of ways:
- To buy and sell mobile data on the Dent global marketplace.
- Platform adoption is incentivized. Users can refer their friends to the platform and earn Dent coins in return.
- The coin can be bought and sold on cryptocurrency exchanges.
- Used to incentivize telecommunications companies to join the platform.
The team is made up of five full-time members and three advisors. It’s a pretty lean team. However, between them, they have a wealth of experience in entrepreneurship, Ethereum smart contracts, payments systems, and apps. The skill sets and track record needed to make Dent coin a success seem to all be present.
In this Dent coin review, we’ll just focus on the project’s founders. The rest of the team can undoubtedly add a lot of value, but we prefer to look at the founders in detail.
Tero Katajainen – CEO & Founder
Tero is a Finish born entrepreneur and has co-founded several online startups over the last twenty years. He also has amazing knowledge about Forex trading systems and was one of the pioneering developers to first integrate mobile payment systems with apps. Tero also has a deep understanding of blockchain and he is the brains behind all the development of the Dent crypto project.
Mikko Linnamäki – Co-Founder
Mikko has been founding online businesses since 1994. During his entrepreneurial journey, he co-founded Dovecot Oy, which delivered the world’s most widely used IMAP server. 72% market share and over four million installations are certainly not to be sniffed at. It is estimated that around of the world’s population have Dovecot to thank for their email storage. Now that’s a truly global online business.
Andreas Vollmer – Co-Founder
There is one thing in life that Andreas is truly passionate about and that’s creating mobile apps. With 12 years development experience under his belt, he has also co-founded TDSoftware and has developed apps for the likes of Mercedes-Benz, Audi, and many other companies.
Andreas being a fan of all things mobile related, also brings with him a wealth of experience in mobile customer relationship management systems. He likes to use this data to make optimizations to apps and check user behavior to make sure everything is functioning optimally.
The Future Of Dent Cryptocurrency
There are many reasons to be excited by the Dent crypto project. The team have successfully identified that there is no second-hand mobile data market and have chosen to try and fill this gap. There are huge inefficiencies in cross-border mobile data transfers and telephone companies lack operator agreements between each other. The result is expensive international roaming charges. The Dent project has already made a promising start and is offering data deals with around 20 different operators in their app.
In principle Dent coin is a great idea. However, the whole project is dependent on getting more telecommunications companies on board. The concern with this crypto project is whether enough mobile operators play ball and agree to make the mobile market more efficient. Failure to do so will likely result in the project flopping.
The truth is that there are many places in the world which are dominated by a single operator, so they might not have the same incentives to collaborate with Dent and this may act as a barrier to change.
On the positive side of things, the project has already made partnerships is data consolidation companies like U2opia, which already work with many different mobile operators. These partnerships may help Dent get their foot in the door with operators.
On the consumer side of things, the main market this project is targeting is low-income mobile users from the developed world. Globalization has lead to high levels of cross-border economic migration from developing countries to more economically developed ones. However, these job opportunities are characterized by low incomes and these people still need to communicate with family and friends at home. There is little doubt that Dent would be popular amongst this customer base and that it’s a market worth going after.
Want To Try The Dent App For Yourself?
Dent already have their mobile app released for Android and iOS and you can play around and buy mobile data packages today. Even better, you can get 235 Dent coins for free by downloading the app through TotalCrypto.
Mobile operators already collaborating & providing data deals with Dent:
- Maroc Telecom
- Claro & more
Try Out The Dent Mobile App & Get 235 Dent Coins For FREE.
The Dent Coin ICO
The Dent ICO was held on the 26th July 2017 and raised $4.3 million. 100 billion Dent coins were created and 70% of these were sold at ICO. What about the other 30% of the Dent coins? Well, the team have set these aside to pay for incentives to onboard telecommunications companies, incentivize new users to the platform and pay for salaries. One billion tokens have also been earmarked to the UN Sustainable Development Goals program.
Should I Invest In Dent Coin?
- The project aiming to grab a slice of a market worth an incredible $386 billion per year.
- Currently, there are no established second-hand data marketplaces.
- Huge inefficiencies exist in the international roaming markets & Dent provides a solution to address these.
- Cheaper mobile data is going to be popular with consumers.
- Dent has already got a working product and is working with around 20 telecommunications operators.
- The mobile data market is growing fast.
- Dent’s platform solution can expand its market to service internet of thing devices.
- If successful, Dent could become the glue that holds mobile operators together and is the world’s marketplace for mobile data. Not only can it serve everyday people, but also mobile operators could buy data on the platform themselves. This would see the project operate at a truly astonishing scale.
- Charitable initiatives like ‘Gigabytes for Africa’ can make the world a better place.
- The project is at the mercy of mobile operators.
- The platform has not been widely adopted and used yet.
- Other crypto competitors like Telcoin exist.
- Mobile operator support is currently only available in 14 countries.
How Can I Buy Dent Cryptocurrency?
You can buy Dent coins directly through the Dent app with either PayPal or card. Please note that if you do this you will not be able to send them to a cryptocurrency exchange to sell. Dent coins bought through the app are only for buying and selling mobile data.
If you just want to invest in the Dent crypto project then you will have to use a cryptocurrency exchange. We’ll show you how to do this in our easy to follow how-to-buy Dent guide.
We think Dent coin has immense potential. It’s trying to serve a massive market with no dominant player. Although the team is small, they are highly experienced and we do feel that they have a good chance of making it all happen. Unlike many other crypto projects, Dent already has a working product and partnerships with some very big mobile operators. Of course, we would like to see an increase in the levels of country coverage and operator numbers. However, we must remember that these things take time and the project has already achieved a lot in a short time-frame.
The TotalCrypto team are massive supporters of the Gigabytes for Africa initiative. We are strong believers that internet access promotes both economic growth and education. It’s a noble cause that the project is pursuing and we think it’s well worth supporting.
For too long the mobile data market has been constricted. Dent provides the opportunity to truly liberalize this market and organize the collective buying power of mobile data users around the world. The potential is certainly there for Dent to disrupt the mobile market. It’s just a matter of whether you want to back it or not.
Below we’ve listed some key resources relevant to Dent coin.
? Safest Dent Cryptocurrency Wallets
The safest way to store your coins is by using a hardware wallet. The two main brands are Trezor and Ledger and we are happy to recommend both. If you need help choosing between the two just read our Trezor Vs Ledger guide.
? Best Free Wallets
As Dent coin is a ERC-20 token, you can use any wallet that is compatible with Ethereum. Find our top two choices below:
- MyEtherWallet – if you need help getting started we have you covered with our MEW wallet guide.
- The Ethos Universal Wallet – store over 100 cryptocurrencies in one place.
? Best Crypto Tracking App For Dent Token
Want to learn more about Dent coin? Just dive into their white paper to learn everything you need.