Seeking to enable the company to finalize its product in beta, EncryptoTel intends to launch an ICO on April 24. The company develops a secured telecom network featuring encrypted VoIP services for businesses and individuals.
The functioning beta version of the platform should enable users to securely interact using pre-existing applications like Zoiper or X-Lite. Voice and video calls will be encrypted, while cryptocurrency payments enhance confidentiality of financial transactions.
“Whilst this is tremendously valuable to privacy-conscious individual users, EncryptoTel’s big business proposition is a virtual private branch exchange (PBX) that can be rolled out for businesses quickly and easily. This enables offices to deploy a secure internet-based telephone network that also connects to the external phone system. Many offices already use PBXs, or IP-PBXs, but EncryptoTel will progress the concept to ensure they are both private and more cost-effective,” the company’s statement reads.
Blockchain technology makes the platform completely decentralized, with over 100 nations covered thanks to direct phone numbers. EncryptoTel is also compatible with external services via an API.
The crowdfunding campaign will be focused on raising funds to finalize the app’s beta version, add new options, and market the product. The minimum investment goal announced by the company is $100,000.
“The EncryptoTel team has extensive experience of the PBX sector, having worked at the same telecommunications company together for many years, and is confident of success,” the company’s spokespersons stated.
The company noted that, should the crowdsale proves more successful in terms of funds raised, it may roll out extended functions and use more active marketing strategies. Thus, in case of raising $1 million, EncryptoTel will obtain a telecom license to provide users with phone numbers directly. In case the company raises $3 million, the campaign will be over.
Starting on April 24, the campaign will end on May 31, with further details available at the company’s official website and bitcointalk.