Blockchain + SIP = 1+ Trillion USD Redistributed to people ?
According to latest Statista Report the world’s telecommunication market value by 2019 is 1 trillion and 195 billion U.S dollars by 2019.
What if this number could be re-distrubuted across people all over earth, wouldn’t that solve partially the world’s tough economy problems of today ?
I have been doing continuous research on the Blockchain and its probable use-case in telecommunications and that lead us to bigger ideas each time, i started out with looking at how we can use the existing block chain payment system (Bitcoin, Ripple etc..) and smart contracts between telecom operators to auto-pay and settle financial transactions between telecom carriers (Read first publication here). After 3 months, we realized that this is a very small use-case and there is much more to learn from the block chain and the idea of the D.O.T.S Project (Decentralized Open Telecommunication System) was put together in our second publication (Read D.O.T.S Paper here).
While publishing the D.O.T.S Project paper, we realized that one of the long term outcomes for this project would be redistributing wealth across the world since D.O.T.S project aims to reward the receiver of the communication transaction (Voice, Video, Text) with crypto coins and reward the SIP (Session Initiation Protocol) and/or CPaaS nodes for routing and connecting the traffic from point A to point B.
This could mean that by time the One Trillion and 195 Billion U.S dollars will be redistributed to people and SIP/CPaaS nodes (Miners) instead of keeping corporations sucking the 1.195 Trillion from people every year. it will be interesting to see what can such redistribution with time of these funds will do to the world’s economy.
What do you think will be the outcome if 1.195 Trillion USD is distributed to all people around the world ?
If you have some ideas or thoughts on this please email me about it, would love to hear your thoughts on this subject.