A Latvian startup known as 120 Minutes recently introduced a Telegram-Bitcoin integration called CallCoin, which is short for phone call and Bitcoin, to enable international calls via Telegraph approximately 10x cheaper than the standard pricing.
On ArticStartup, a technology company & blog established to promote emerging communities, 120 Minutes CEO Dmitry Chuyenko introduced the company’s Telegram bot, which utilizes Callback instead of VoIP to provide private call services using Bitcoin.
Chuyenko stated:
“Callcoin is the first Telegram bot that provides call services and the first service that offers a winning solution with payments in cryptocurrency.”
Mechanism & Privacy
Chuyenko believes online privacy is the single most important feature that every user must be provided with. Thus, Callcoin utilizes Bitcoin, which with some technologies like Mimblewimble and CoinJoin could become anonymous in theory, and enables an endless generation of new caller IDs for additional privacy.
Users can rent different phone numbers, change Caller IDs at will and check call histories on a single platform.
“Users can top up their credits with Bitcoin and recharge codes, and send them to anyone. Plus, they can access their history, check the tariffs, rent a different phone number, set a Caller ID and set multiple numbers for call-back,” wrote Chuyenko.
According to Chuyenko, international call rates on its Telegram bot Callcoin cost around 10 to 20 cents less than standard rates. For instance, a call from Mexico to Spain on Callcoin will cost users 3 eurocents per minute, while on standard rates, it could cost up to 20 cents or more.
Interestingly, the company is backed and supported by Nick Ustinov, who currently serves as the Chief Technology Officer at Get Chip, a firm that allows users to save money by connecting its mobile application to a bank account.
Its main product, the automatic savings app, enables millennials to receive automatic calculations of the amount of money they can save without having a significant impact on their daily spending habits.
With GetChip CTO Ustinov’s support, Telegram Bot developer 120 Minutes could potentially enter into a strategic partnership for healthy spending habit promotion with bitcoin, with which millennials will be able to gain full control over their money without depending on mediators like banks.
Chuyenko has consistently expressed his optimism towards Bitcoin, thus, considering that, the Telegram Bot is one of the many applications to be released by 120 Minutes, unique applications of Bitcoin is a possibility.
“Bitcoin market capitalization exceeded $10 bln and the service is accepted as a valid payment system at the biggest marketplaces. Online privacy is of great importance for people and they are ready for new products, which can deliver on this promise,” noted Chuyenko.