On April 9th, China’s Nasdaq: Shenzhen Stock Exchange published an announcement from the listed company Montnets regarding the QLC Chain adoption, and explained in depth how would the solution help the industry, and reduce asset lost due to communication fraud.
Shenzhen stock exchange is the 4th largest in East Asia and Asia. The exchange opened the ChiNext board (Chinese: 创业板), a NASDAQ-type exchange for high-growth, high-tech start-ups in 2009.
- QLC Chain and the global A2P SMS billing platform has great potential in preventing communication fraud for finance institutes
- The potential of providing the indicated services for tens of thousands of enterprises
- QLC Chain’s technology advantages which are 1) highly scalable platform 2) telecom ledger privacy protection 3) ledger slicing to reduce the storage requirement
- Potential to address hundreds of billions trusted telecom market deducting from the global mobile trend published by GSMA as well as the potential to tackle vertical industries including finance, public utility, and e-commerce.
In the announcement, Montnets emphasized that the upcoming business comprises three aspects
- Telecom anti-fraud traceability
- Trusted billing payment
- Inter-carrier clearance
It is extremely beneficial to the end consumers for adopting the telecom anti-fraud traceability function. It will prevent the phishing SMS in disguise of a bank similar number to steal people’s asset.
With the SMS Billing system, Montnets’ clients can record the hash value of each SMS on the QLC Chain ledger. This initiative will, to a great extent, reduce SMS fraud as users can search and verify the origin of each message they receive and find out whether the senders are credible.
The comprehensive announcement also include detailed deployment plan including
- Asset registration process
- Asset transfer process
- Billing and Clearance process
- Architecture plan from the business and ledger perspective
Find more about the plan here: