Zeebu, a blockchain and settlement services provider for the telecom industry, has introduced the first loyalty utility token for the telecoms industry. The program is designed to improve transaction speeds, lower transaction costs and increase profit margins. On April 22, 2023, the Zeebu token was released on the Ethereum mainnet. However, the full product will be introduced on May 14 at International Telecoms Week (ITW) in National Harbour, Maryland, in the greater Washington, D.C. area. ITW is one of the largest conferences in the Telecom industry.
Telecommunications carriers help major telecom operators in connecting people all over the world. However, despite their global reach and high transaction volume settlement, they face challenges such as remittance delays, forex crunches in emerging markets, local currency volatility against the USD, high transaction costs, and low margins.
With its alliances, access, and network, Zeebu plans to attract more than 100 carriers to its blockchain-based settlement platform for the telecom industry.
In order to increase profits in the $120+ billion legacy telecom carrier industry, Zeebu has developed a blockchain-based settlement platform and loyalty utility tokens.
Zeebu loyalty utility tokens incentivize customers by rewarding merchants and customers alike for transactions that save money, clear quickly, and boost profits. The goal of the programme is to increase profit margins and reduce wasteful business processes. Allowing transactions whenever and wherever will likely disrupt the existing instant settlements systems. Further more, the loyalty token’s utility may further be broadened to include use in more Web 2.0 B2B sectors.
Raj Brahmbhatt, Founder and CEO of Zeebu said “I am excited to work on a project that aims to solve significant inefficiencies in the telecom carrier industry by using the Zeebu .”
Zeebu is an adaptable blockchain platform built specifically for telecoms carriers. By luring traditional web 2.0 firms to blockchain platforms, the company hopes to use cryptocurrency to address real-world issues.
To date, Zeebu has only accepted requests for merchant onboarding from members of the telecommunications carrier industry through its waitlist. Interested companies can fill out a contact form on the Zeebu website and provide their details. Zeebu’s goal is to apply its innovative solutions to other B2B sectors that are struggling with the same issues of low profit margins and international money transfers.