Can Blockchain Transform the Way We Communicate?
- Blockchain is on its way to disrupting how people communicate.
- TokLok, a Polish-based privacy company led by cryptocurrency industry experts, believes it has cracked the code with its new messenger app.
- The platform has its own native token called TOL.
It’s no secret that cryptocurrencies have changed the global financial system forever. For the first time in history, a cross-border network enables people to transact directly without the fear of fraud or censorship. Unsurprisingly, cryptocurrency is a hot topic, and everyone seems to have some. But this success wouldn’t have been possible without blockchain. Today, blockchain is on its way to revolutionizing yet another big part of life – how people communicate.
Blockchains are shared ledgers that track the flow of data within networks. When applied to cryptocurrency, blockchains act as receipts that track which wallet addresses send what payments. Because this transaction data is stored publically, blockchains enable people to trust that their payments will be managed fairly, regardless of how well they know others.
A lesser-known feature of blockchains is the ability to send messages. As blockchains can be used for the storage and transfer of any type of data, most wallets have included the ability to send simple strings of text alongside cryptocurrency transactions. However, this method isn’t optimal for mainstream chatting for a couple of reasons. First, ever-increasing transaction times cause unwanted delays in message delivery. Second, public blockchains don’t bode well for private conversations.
Still, blockchains have exposed the potential of decentralized communication networks to enable real-time chatting free of censorship or surveillance – and several projects are trying to make this a reality. TokLok, a Polish-based privacy company led by cryptocurrency industry experts, believes it has cracked the code with its new messenger app.
Immune to prying eyes, TokLok’s messenger guarantees fully confidential correspondence between businesses and individuals. It will achieve its milestone soon by leveraging Bluetooth technology to enable direct phone-to-phone communications without the need for cellular data or the internet, even over long distances. Effectively, the app creates a decentralized communication network that can’t be intercepted or shut down from the outside.
To protect users, the app sends messages anonymously through encrypted tunnels that disallow anyone but intended receivers from reading them and automatically deletes messages. Furthermore, because communications are handled directly between phones, neither TokLok nor any other entity can access live message contents.
TokLok’s native token, used to access the app and reward users, is called TOL. Though TokLok has already formed agreements with major exchanges to begin trading, the company is first going public through a community approach. Before TOL hits exchanges, TokLok is giving early investors the opportunity to participate in three rounds of sales. The first round, which offers $TOL for the cheapest price, is already live.
Through the TOL token, TokLok will provide investors with earning opportunities like passive profit sharing and token holding rewards. Early investors who purchase 1000 or more TOL will receive the additional benefit of lifetime messenger access for themselves and one other person.
With the messenger already developed, funds raised through TOL sales will be put towards continuous updates, adding new features, even further improving security, and striking deals with additional exchanges to bring in more users. By supporting TokLok, investors could very well be playing a major role in the future of communications as we know it.