NEO is expanding its boundaries. NEO Council investing in Qlink

ยท 26 Oct 2017 in Crypto News, Home

NEO keeps growing. Qlink, the world’s first decentralized mobile network, announced that NEO Council  would be one of the main investors in the Qlink’s future project. Qlink aims to create a P2P WiFi network sharing and lower costs on data consumption. It also searches to create a new revenue source other than data.

At the same time, Kucoin announced in Twitter that they will be the first platform exchange to use NEO as a quote currency. Kucoin stated that they will also list the Red Pulse RPX token. “We are listening to the voice of the community and we decide to open $NEO market on 28th October”, Kucoin twitted.

The deposits for the RPX tokens will be available on 26 October 12:00 (UTC+8) while the trading will open on 28 October at 20:00(UTC+8). The RPX token could be traded for NEO, GAS, BTC or ETH.

Who are Qlink and Kucoin?

Qlink is a decentralized mobile network dedicated to construct an open source telecom infrastructure on blockchain. The intention is to establish a decentralized global WiFi sharing network and to develop a decentralized billing and operation supporting team network.

Kucoin is a  Hong Kong exchange that targets foreign customers to avoid Chinese hard regulations. The distinctive feature of this trading platform is that it will issue its own KCS token bonus plan with the intention to redistribute 50% of the trading fees to the users.

How would it work?

Qlink is preparing to run an ICO on NEO and Ethereum. In this way, Qlink, will generate a NEP5 and ERC20 token. Investors that will be holders of the tokens, will have free WiFi and free data for specific content. In addition to it, they will receive a share in profits from mobile network users and will also receive profits from a mining power pool in Qlink’s base station.

In order to present their new investors , Qlink held an “Ask me Anything” (AMA) on the NEO subreddit on October the 22nd.

“Actually, we will use NEO’s smart contract on NEO chain, at the beginning. At the same time, our engineer is working together (with NEO) to develop a public chain for telecom industry. We will continue our current development on DApp on Ether and move it to our public chain in the next year”, commented xiaoyux in the AMA.

According to Allen Li, Qlink CEO and Founder, they are developing their own public chain that will be able to communicate with the NEO blockchain through NEO’s cross chain protocol. Qlink chain will store information regarding billing data and crypto-tracking records. At the same time, NeoContract will be utilised on the NEO blockchain to register infrastructure assets, like WiFi hotspots, routers, wireless base stations, and their topology, reported neonewstoday.

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