{"id":4302,"date":"2021-06-22T12:59:34","date_gmt":"2021-06-22T11:59:34","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=4302"},"modified":"2021-06-22T12:59:37","modified_gmt":"2021-06-22T11:59:37","slug":"german-telecom-company-deutsche-telekom-to-launch-blockchain-powered-mobile-pay-network","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/german-telecom-company-deutsche-telekom-to-launch-blockchain-powered-mobile-pay-network\/","title":{"rendered":"German Telecom company (Deutsche Telekom) to Launch Blockchain powered Mobile Pay Network"},"content":{"rendered":"\n
Germany's telecommunication company, Deutsche Telekom (DT) announced that it has reached an agreement with the financial industry heavyweight Andreessen Horowitz (AH) on a Celo blockchain<\/a> network New agreement.<\/h5>\n\n\n\n
\"German<\/figure><\/div>\n\n\n\n

Global telecom companies are becoming more and more interested in blockchain technology, as Germany and Europe\u2019s largest telecommunications provider Deutsche Telekom (DT) partners with Andreessen Horowitz (AH).<\/p>\n\n\n\n

In a press release shared with Cryptonews.com, the two companies stated that they have reached an agreement to see these companies stake tokens (CELO) and create a new blockchain-powered mobile payment network.
(Celo is supported by DT and AH, as well as Coinbase Ventures\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Polychain Capital and other investors.)<\/p>\n\n\n\n

They explained that they are “building a global payment platform that anyone with a mobile phone can use.”<\/p>\n\n\n\n

The former state monopoly DT is transforming through its digital innovation subsidiary T-Systems MMS. The company did not disclose the scale of its investment, but announced in April this year that it had “invested in a decentralized financial economy (DeFi)” and called its token purchase “significant.”<\/p>\n\n\n\n

The size of Andreessen Horowitz's shares was not disclosed. However, the German company added that both Andreessen Horowitz and T-Systems now want to stake their coins on cooperative validators on the network.<\/p>\n\n\n\n

T-Systems stated that this will help it “contribute to the infrastructure of the Celo blockchain network”, and will use its Open Telekom Cloud platform, which says it “meets the most stringent security and compliance requirements.”<\/p>\n\n\n\n

T-Systems also added that \u201cit is paid by the network\u201d and uses a stable currency pegged to the U.S. dollar on the Celo blockchain.<\/p>\n\n\n\n

Quoting Katie Haun, general partner of Andreessen Horowitz, \u201ca diverse set of globally distributed validators is critical to maintaining a blockchain network that is secure and technically robust.\u201d<\/p>\n\n\n\n

As of 10:23 UTC time, the market capitalization of CELO ranks 151st, traded at US$1.77, and down by nearly 17% in one day and 42% in one month. There is almost no change in a year.<\/p>\n\n\n\n

DT got privatized in 1995, but the government<\/a> retained more than 30% of the company's shares. T-Systems also supports Flow blockchain network and DeFi players Chainlink (LINK).<\/p>\n\n\n\n

In South Korea, the nation\u2019s biggest telecoms giants threw their hats into the blockchain ring years ago, with some already reaping the profits. Earlier this year, KT announced a “seven-fold” increase in blockchain-related profits.<\/p>\n\n\n\n

The company operates its own blockchain network and provides technology for many of the country's most successful local stablecoin projects.<\/p>\n\n\n\n

KT\u2019s closest competitor, SK, is also active in the blockchain field. Last year, it reached an agreement with Samsung to pioneer the world\u2019s first decentralized ID (DID) solution for mobiles.<\/p>\n\n\n\n

KT, SK and South Korea\u2019s third largest telecommunications provider LG U+ are also working to expand the coverage of South Korea\u2019s blockchain-based driver\u2019s license platform.<\/p>\n\n\n\n

Meanwhile, the state-owned telecommunications company Rostelecom in Russia<\/a> has developed a blockchain-powered voting platform that has been used in various elections, including the recent primary elections of the country's largest political party.<\/p>\n","protected":false},"excerpt":{"rendered":"

Germany’s telecommunication company, Deutsche Telekom (DT) announced that it has reached an agreement with the financial industry heavyweight Andreessen Horowitz (AH) on a Celo blockchain network New agreement. Global telecom companies are becoming more and more interested in blockchain technology, as Germany and Europe\u2019s largest telecommunications provider Deutsche Telekom (DT) partners with Andreessen Horowitz (AH). […]<\/p>\n","protected":false},"author":12,"featured_media":4303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9,130,21],"tags":[202,714,711,713,712],"class_list":["post-4302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-blockchain-news","category-news","tag-blockchain","tag-deutsche-telekom","tag-germany","tag-mobile-pay-network","tag-telecom"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/06\/German-Telecom-company-Deutsche-Telekom-to-Launch-Blockchain-powered-Mobile-Pay-Network.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=4302"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/4303"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=4302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=4302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=4302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}