Also read: Bitcoin.com Launches New Telegram Channel
Callcoin CEO: ‘Growing Levels Of Trust and Understanding’ In Crypto
The service uses callback rather than Voice over Internet Protocol (VoIP) to offer low-cost dial-out/dial-in for Telegram. It is the first product for 120 Minutes, a group of developers from Canada and Latvia.
“Callcoinbot meets people’s needs on the current stage of new technology development,” 120 Minutes CEO and Callcoin creator Dmitry Chuyenko told Bitcoin.com.
“It combines the natural desire to be able to communicate without external supervision and control, with the growing level of understanding and trust in cryptocurrency.”
120 Minutes created Callcoin out of necessity — lawmakers restricted the maximum rates operators could charge within the EU, while permitting them to make huge increases on calls starting or ending outside the bloc.
With Telegram, users are offered new levels of security for voice calls. In addition, there is improved call clarity over services using VoIP technology such as Skype.
“One has to be a full-fledged telecommunications operator to successfully implement dial-out… to understand the opportunities offered by Telegram and most importantly — have the will and sufficient funds to make a… high-quality integration,” Chuyenko continued. “In my opinion, these conditions had never been complied with before the creation of Callcoin.”
Combatting Govt Attitudes to Crypto and Encrypted Messaging
Callcoin is primarily aimed at a target audience that is already tech-aware. The software is open source, which developers say further fuels user interest and enhances credibility. Users can top up balances with Bitcoin thanks to a partnership with BitGo.
“If a user has a Bitcoin wallet also registered at BitGo, we can top-up their balance immediately after a transfer, without expecting three confirmations from the Bitcoin network,” Chuyenko explained, adding that the business model does not involve immediate cashing out of BTC to fiat currency.
Users can also purchase so-called ‘codes’ to top up balances through another partnership with payment provider Paybis. It uses conventional means such as PayPal and SEPA transfers, with Paybis adding a “small” commission. User balances are transferable; codes can be generated by anyone, allowing users to move funds between themselves.
Even Telegram Itself Faces Restrictions
Meanwhile Telegram, like Bitcoin, is not entirely accepted worldwide. Russia for example has implied that the use of encrypted messaging platforms is subject to legal action, the country recently attempting to sanction civil servants it catches using them.
Chuyenko, however, remains confident that legal barriers will not affect Callcoin operation.
“Of course, we have to take into account the possibility of legal restrictions on access to Telegram or, for example, prohibition of the use of cryptocurrency in any given country in the future,” he said. “We shall address these issues as they come, but let’s just say that we already have the solutions.”
What do you think about Callcoin? Let us know in the comments section below.
Images courtesy of Callcoinbot.com, Telegram, Shutterstock
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